Welcome back to “Practical Solutions to Difficult Problems,” where we don’t just admire ambition—we dissect it for actionable insights. This week, we journey through the remarkable story of Better Place, the electric vehicle company that dared to change the world and teach us all a masterclass in both startup success and failure. From their sky-high vision to the complexity of execution, you'll hear the unvarnished truth behind what worked and what didn't, serving up practical lessons that any entrepreneur, business leader, or innovator can use right now. Pull up a seat and let’s turn yesterday’s billion-dollar busts into your roadmap to business growth.
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Discover the bold origins of Better Place, where ambition to disrupt the auto industry meets the realities of launching a hardware-centric business in unfamiliar territory.
Key Takeaways:
Leverage outsider perspective with caution: While fresh eyes can spot opportunities, lack of industry experience can create blind spots—build expertise into your leadership team early.
Validate assumptions rigorously: Don’t rush scaling or set aggressive targets without substantiated market research and reliable financial projections.
Test and build locally before going global: Pilot your concept in manageable markets to prove viability and adapt before rolling out universal changes.
Moving from vision to reality, this episode unpacks the operational, technical, and financial hurdles Better Place encountered when translating big ideas into scalable action.
Key Takeaways:
Budget (and then double-check) your projections: Underestimating infrastructure costs can cripple even the best-funded startups—expect the unexpected.
Build strategic partnerships, but manage relationships: Alienating key stakeholders or partners (like auto manufacturers) can stall growth and innovation.
Hire for operational excellence: It's not enough to have a great idea—a skilled, experienced execution team is vital to manage complex projects.
Not all is lost—Better Place made significant strategic and technological breakthroughs that foreshadowed trends in electric vehicles and scalable models.
Key Takeaways:
Solve the bigger ecosystem, not just one link: Think in terms of the full customer journey, tackling range, infrastructure, and resale challenges for mass adoption.
Innovative business models can set you apart: Subscription-based services for batteries addressed real customer concerns in a changing market.
Timing and focus matter: Sometimes, being too early or spreading resources too thin can undermine otherwise winning concepts.
Jeremy concludes with a candid analysis of the structural and strategic missteps that hastened Better Place’s downfall—and what entrepreneurs should learn from their moonshot.
Key Takeaways:
Nimbleness is your friend: Rapid, unchecked growth can stifle your startup’s agility; stay lean and adaptive.
Execution trumps ideas: A good idea well executed beats a brilliant one pursued with poor coordination or discipline.
Be open to pivots and alternative models: Don’t let initial vision blind you to changing market realities or better solutions.
Host Bio
Jeremy Gray is a seasoned international business leader, fractional CFO, and the insightful voice behind “Practical Solutions to Difficult Problems.” With decades of hands-on experience helping startups and growing companies navigate tricky terrain, Jeremy delivers real-world guidance, unvarnished analysis, and the occasional dose of European wit.
“Why Startups Fail: A New Roadmap to Entrepreneurial Success” by Tom Eisenmann Amazon Link
Harvard Business Review article, “Don’t Draw the Wrong Lessons from Better Place’s Bust” by Ron Adner HBR Article
“Totaled: The Billion-Dollar Crash of the Startup that Took on Big Auto, Big Oil and the World” by Brian Blum Amazon Link
Ready to avoid the fate of even the best-funded and best-intentioned startups? Take a lesson from Better Place: Revisit your assumptions, test them in the real world, and ground your vision with nimble, disciplined execution. Consider where your business can become more agile—can you pivot faster, focus tighter, or listen more closely to your market? Reflect on your scaling plans: are you building a foundation robust enough for growth, or are you sprinting into unknown territory?
To borrow my recurring motto: A good idea well executed beats a brilliant idea poorly executed, every day of the week. If you’re facing tough business challenges, don’t hesitate to reach out—I’m always happy to swap stories, offer advice, or help you find the practical solution to your most difficult problem. Until next week, keep learning, keep iterating, and let’s make your next big idea a success story we all can celebrate!
Ready to dive deeper, connect with like-minded entrepreneurs, or get practical advice tailored to your situation? Visit businessinasia.org or connect with Jeremy Gray directly via LinkedIn. Here’s to smart strategies, resilient teams, and products your customers will love!
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