Puri: Startup pivots require explicit public execution of old assumptions
Shaan Puri · CEOs Pay Him $10,000 Per Appointment · May 8, 2024 · at 34:48
Sean Puri relays startup advice given to him by 'The Lean Startup' author Eric Ries on managing team alignment during a pivot.
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“You need to take your old idea. You need to bring it to town square. You need to shoot it in the head. And I was like, what? And he's like, your team is going to be so confused unless you explicitly tell them that, Hey, all the shit I've been saying for two years, It's changing. Like the old assumptions turned out to be wrong. We learned this by doing this. And now we know that's not the path. We now know that this is a more viable path, that this is a better path to be trying. That old idea is done. That old assumption we had is done. And he's like, you need to take it in the middle of everybody and you need to do a public execution of the assumptions and the ideas that you no longer are married to because nine out of 10 CEOs are too afraid to sort of admit that they were wrong or to like, be really explicit that like, no, we, that was a dead end.”
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