ARE YOU A HUSTLER OR A HACKER, NEITHER OR BOTH?

In the current book I am reading “Why Startups Fail”, the Author “Tom Eisenmann”, a Harvard Professor of Entrepreneurship talks about 4 terminologies that I like and will break down for you, viz:

1. A “Hacker” is usually the BRAIN of the startup. This is the TECHNICAL EXPERT of a business. They are usually the chartered accountants, the medical doctors, the clinical psychologists (like Molabo is to SOBCA), etc. These are the MAIN BRAIN OF THE CORE OF THE BUSINESS.
2. A “Hustler” is the MONEY BRINGER. They may not know the technicalities of the craft but they are the money spinners. They are STREET SMART. They are the reason why the business is getting paid.
3. The “Horse” is the CRAFT ITSELF that you are selling. The horse is what you have PROMISED the customer. The horse is the VALUE PROPOSITION. This is WHY people part with their money to patronize you.
4. The “Jockey” is/are “Hacker + Hustler”. The Founders of the startup are the Jockey. They are the DRIVERS. They determine WHERE the startup goes and HOW it gets there.

Now that you know, he goes further to educate that THE BEST PERFORMING JOCKEY must have:

1. Sufficient Industry Experience in the sector they operate in.
2. Functional Work and Career Experience, which means they’ve worked in some corporate or non-corporate environment. Not rookies. This significantly impacts on startup quality.
3. Temperament which, to me, is extremely crucial. Jockey must cover each other’s gaps. When one is social, the other may be better off introverted. When one is analytical, the other is better off a dreamer; all in moderate measure.

The book is very good. See this newsletter as a sub-review of WHY STARTUPS FAIL by TOM EISENMANN.

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m a k t u b!!!

SO