Leading New To Big with David Kidder

David Kidder is an entrepreneur and an angel investor in more than 30 companies. He's the co-founder and CEO of Bionic, unlocking growth and competitiveness in the world's largest enterprises. He's also a bestselling author, which includes: The Startup Playbook and his latest book, New To Big. Find out how you can get #TheBionicLife and learn lots from David in this inspirational show including: The philosophy of growth and transformation The entrepreneurs mindset Control is a myth The concept of a Growth Mindset for a big company Plus loads more hacks Join our Tribe at https://leadership-hacker.com Music: " Upbeat Party " by Scott Holmes courtesy of the Free Music Archive FMA Transcript: Thanks to Jermaine Pinto at JRP Transcribing for being our Partner. Contact Jermaine via LinkedIn or via his site JRP Transcribing Services Find out more about David below: Bionic Website - https://onbionic.com David’s Website - https://www.davidskidder.com The Startup Playbook -  Book New to Big - Book David on LinkedIn - https://www.linkedin.com/in/davidskidder/ David on Twitter – https://twitter.com/davidskidder David on Instagram https://www.instagram.com/davidskidder/   Full Transcript Below ----more---- Steve Rush: Our special guest on today's show is David Kidder. David's an entrepreneur and an angel investor in more than 30 companies. He's the co-founder and CEO of Bionic, unlocking growth and competitiveness in the world's largest enterprises. He's also a bestselling author, which includes The Startup Playbook and his latest book, New To Big. But before we get a chance to speak with David, it's The Leadership Hacker News.   The Leadership Hacker News Steve Rush: What comes to mind when you hear the word “Startup”, if it's a trendy loft conversion in London’s Shoreditch, or a grungy basement in the heart of Silicon Valley, you're probably not alone. A large proportion of people think that startups is just a term for a team of one or two people that have a common thread. In fact, many startups include large scale growth companies, and of course a startup, does not stay a startup. It can often graduate to larger organizations readily, requiring more office space, generating higher revenues and having many employees. The global pandemic has spurned a rise in new companies, startups. In the UK in 2020, 278,300 new companies were started. And then the US 804,000 businesses were also started. That's about 10% up year on year. So, if your entrepreneurial spirit has been ignited, I just wanted to share some simple facts with you about startups. Some of the things we can get excited about, and some of the things we maybe need to be wary about. Patience is a virtue. The average time between seed funding to Series A is typically 22 months. And between A and B is 24 months and B to C is 27 months. So, there's a long lead in to successful organizations of which 47% of Series A start up spend more than $400,000 dollars per month. Not all startups are big, but the average round for Series C investments is $50 million dollars between the UK and the US. The average time to incorporate a business globally is typically six days, not much time really. And when we look to the ratio of who's leading startups, the ratio of men, entrepreneurs to women entrepreneurs in 2020 was 10 versus 7. Statistic show whoever's leading them, but 90% of all startups fail with 10% failing within the first year across all industries. And the number one reason for failure was that startups fail to misread the market demand. And the second largest reason why startups fail is due to running out of cash. The good news is that 33% of startup capital for employer led firms is less than £10,000 (pounds) or $14,000 (dollars). With one in three businesses, starting with a less than £5,000 (pounds) or $7,000 (dollars). So, what did the experts say? Well, according to respondents of small business trends survey, the best way to learn about entrepreneurial ship is to do it.