Startups are increasingly becoming the engine of innovation across all industries. We are living in an age where an entire generation of young entrepreneurs with different backgrounds and skill sets are coming together and collaborating with a desire to disrupt existing markets, challenge the status quo, replace the old with the new and, above all else, make the world a better place.
Startups, however, are constantly facing the challenge of how to make an impact given their initial small size and limited resources. Nine out of ten startups fail, and more than fifty percent do not reach past the five-year mark. The few that do manage to survive can quickly find themselves swamped in the oversaturated market, unable to make any decent progress. So how can they establish themselves among their immediate competitors, let alone defeat larger, more established companies? Is the story of David and Goliath still relevant in the modern business world? Hence the need to write an engaging book that offers unique, viable solutions to all the problems small startups face especially in their early stages.
This book provide practical teachings on how startups can strengthen their foundations, reach the pinnacle of the business world and, ultimately, become a virtuous leader of startups in the model of Machiavelli's "The Prince."
What does a 500-year-old figure from history have to do with the world of startups? I first encountered Machiavelli in high school in Italy. At the time, he did not represent much more to me than just another part of my studies, but he came rushing back when I moved to the US to finish high school in a small town of Ohio. I used to talk to people who knew little about Italy, but who could still quote Machiavelli's most famous lines: "The end justifies the means" and "It is better to be feared than loved."
Machiavelli seemed to be even more popular in America than in Italy. This triggered my curiosity and pushed me to do more research on him. I realized that throughout history, politicians, generals, philosophers and other leaders have all harnessed his philosophies in their own fields. He has also been criticized as being overly cynical, cruel or cutthroat. However, I think this is too dismissive and partial. Machiavelli was, more than anything, a pragmatic realist. He devoted himself to finding patterns in human nature and history, and was perfectly aware of what was ethical and unethical, encouraging aspiring leaders to reach their goals through "virtue"; to rely on hard work rather than luck; and to try to be loved rather than feared (while noting it is easier to be feared). He also understood that necessity and emergency compels leaders to make tough decisions.
During my studies at Harvard Business School, I began to apply Machiavelli's principles to the business world, finding his teachings tremendously modern and useful for my own startup. I realized that as, a serial entrepreneur, I was already applying many of his tactics without even being aware of it. So I started decoding and adapting his writings to the world of startups, testing his teachings in the field.
From this experience, and from Machiavelli's two most influential books "The Art of War" and "The Prince," came the idea for "The Art of Startups."
Edoardo Maggini is a serial entrepreneur and inventor who has co-founded three startup companies in the past 10 years ranging from the food industry to renewable energy. Edoardo, studied at Harvard Business School and worked in New York for a Fortune 500 as operations manager, where he invented an automated cleaning device for elevator steel cables. Edoardo is currently working at his new startup company, Fenix Technologies, in the recycling industry.
