Thursday, 13 February 2014
Why you shouldn't think that your business is going to go big
Every time I see a startup they want to go big. They want to go Google big, Amazon big, Facebook Big. Their pitch has all of the pie in the sky features which would be impossible to implement on a small budget.
Going forward after investment, every founder has very profound visions of what they want to do. I get all of that. I have visions and big plans and ideas that could probably go Google big, Amazon big or Facebook big.
Then I get hit with reality. I have no funding and limited resources so how can I make money today. I get the sense that most startups or business do not want to do this. They want to deploy the next Google, Amazon or Facebook.
What is even worse is that a lot of companies start with lots of man power. Hiring people is extremely expensive so why do it? Aside from the money the biggest and worst part about this approach is that the founder usually has ideas that cannot be implemented at all and there is a disconnect between vision, reality and production.
What can you do about it? Simple. Start lean continue to function lean and don't macro right away. Start small and thing about how you can make money today. Once you start to learn how to make money today you can learn to scale that process. Once you can scale the process you can start to think bigger and the problems mentioned above won't happen. On a side note, if you are the founder of a company. Make sure you do some grunt work at times. It shows that you care about the company.
Tomorrow: why starting an online school might be harder than you think.
Posted by John Bura at 07:31