Start-ups are like professional sports teams

Bambi Francisco Roizen · February 6, 2011 · Short URL:

Henry Blodget's No. 7 lesson: Startup players have to earn their position

In December, Vator Splash held its first-ever Splash NY event. Henry Blodget, CEO and co-founder of Business Insider, was one of the keynotes. His speech is outlined in this post, titled Blodget's 10 commandments.

This is the video version. But two lessons are worth nothing. You'll note that his No. 7 lesson, or commandment, refers to managing and building a startup team. "What you're trying to build is a professional sports team," said Henry. "You want to create an incredibly intense and competitive business," he added. "Every day the players have to earn their position."

This is not easy to do if a startup CEO is trying to build a familial place to work and if he or she is trying to be liked and nice. "You just don't have much time to give people months and months of chances," he warned.

The other notable piece of advice is, "Don't be a perfectionist." Many people who do want to build the perfect product "miss the boat," he said. "Your job is to be mostly right."

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Bambi Francisco Roizen

Founder and CEO of Vator, a media and research firm for entrepreneurs and investors; Managing Director of Vator Health Fund; Co-Founder of Invent Health; Author and award-winning journalist.

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