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- Why 90% of Startup CEOs Are Failing | Key Insights by John Kim of Sendbird
Why 90% of Startup CEOs Are Failing | Key Insights by John Kim of Sendbird
Discover why many startup CEOs are failing based on insights shared by John Kim, founder and CEO of Sendbird. Learn the importance of customer interaction and finding a strong product-market fit in the early stages of startups.
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Video Summary & Chapters
1. Customer Interaction Strategies
Importance of talking to customers daily for startups
2. Introduction to Sendbird
Overview of Sendbird as a leading conversations platform
3. Aligning Strengths with Startup Ideas
Choosing startup ideas aligned with personal strengths
4. Customer Engagement Balance
Balancing product development and customer interactions
5. Early Stage Product Development
Importance of finding product-market fit in the early days
6. Building Organizational Culture
Creating a strong culture within startup organizations
7. The Importance of Company Culture 🌟
Understanding the critical role of company culture in organizational success.
8. Impact of Culture on Company Performance 💼
Observing how culture influences company execution and employee retention.
9. Building a Strong Company Culture 🏢
Initiating core values and workshops to establish a robust organizational culture.
10. Seeking Growth Opportunities 🚀
Advice on learning from companies ahead to fuel rapid growth.
11. Pursuing Greatness 🌟
Strategies for identifying patterns of success and achieving greatness.
12. Working Backwards for Success 🔄
Applying the principle of working backwards to achieve desired outcomes.
13. Essential CEO Responsibilities 🎯
Understanding the key roles of a CEO in driving company success.
14. Dream Big and Embrace Risk 🌠
Encouragement to have ambitious goals, long-term vision, and risk-taking mindset.
Video Transcript
I'm still surprised by a lot of founders when I ask them,
like, how many customers did you talk?
They're like, oh, I talked to three customers last week
or five customers last month.
I'm like, are you kidding me?
You need to be talking to three or five customers a day.
You'll be attending so many networking parties,
going to every single conference,
going to every single speaking event,
but you don't go back to fundamentals
of building a strong product.
None of that really matters
until you find a strong product market fit in the early days.
None of it else matters.
Hi, my name is John, founder and CEO of Sandberg.
We are the world's leading conversations platform for mobile application.
We powered a quarter billion users on a monthly basis sending seven plus billion messages,
offering major applications like Dordias, PayPal, Reddit, Y'all, Fanny, Spores,
Kraft and in Korea.
Today we have over of 340 employees globally in seven different countries.
We have collectively raised over $220 million in funding, which valued our company over a billion dollars.
Something that a lot of first-time founders don't really think about is,
They look for market trends or opportunities.
They think that are interesting and timely,
but a lot of founders pick ideas that are not really aligned to their own strengths.
So what ends up happening is after two to three years,
they realize that pretty much whatever you do is harder than you think.
It will take longer, it will be harder.
So a lot of smart people end up giving up too quickly.
Because it wasn't really something that they wanted to commit for the next 10 years.
Whatever the next thing you pick, try to like see if you can really commit to the idea,
imagine yourself doing that for the next 10 years.
Which is very, very hard.
But if you can really see yourself in the next 10 years doing things, hopefully greater
as-scale, that's a really important question.
I would also ask myself, when I'm starting my next company, is to, can I commit to this
for the next 10 years?
I'm still surprised by a lot of founders when I asked them, like, how many customers
did you talk last week?
They're like, oh, I talked to three customers last week or like, five customers last
month, I'm like, are you kidding me?
You need to be talking to three five customers a day.
People who are good with one thing tend to overlook the others.
So for instance, if you're an engineer, if you love building great products, it will be naturally
biased for spending more time on product.
So instead of spending more time with customers, you're like, oh, you think you have an idea
about customer, you try to go and build it before even talking to customers or validating
from customers.
If you're so outward facing, you will be attending so many networking parties, going to every
single conference, going to every single speaking event, but you don't go back to fundamentals
