90% of startups fail, and 10% of them fail within the first year. (Embroker)
This means that as you set about creating your company, the ability to survive—and stick around for the long-term—should be top of mind from day 1.
That’s why I wanted to share this durability formula from James Currier, an angel investor, five-time founder, and Founding Partner at NFX, a VC firm that invests in pre-seed and seed-stage startups.
The key advantage of this formula is that it gives you a mental model to evaluate your company’s durability as early as possible.
The formula consists of 5 key factors:
1️⃣ Network effects
2️⃣ Economies of scale
3️⃣ Brand
4️⃣ Embedding
5️⃣ IP
To check it out and learn how to apply the model to your company, join our Sales & Investor Accelerator Club. It includes the checklist (where I did an overview of what was included). Join us here!
How have you optimized for durability? Please share in the comments.