Entrepreneurs exist to do one thing and one thing only and that is to grow. It is unfortunate how often this vital aspect of searching for a repeatable and scalable business model is linked to just tech startups as opposed to entrepreneurs in general. Growth is what defines entrepreneurship as a management science as opposed to just starting and running your own company and/or the enjoying lifestyle. Growth is just as much the business of social and single entrepreneurs as it is of high growth tech startups. Technology is really not what defines growth, but marketing. And marketing is merely the act of automating key steps of the sales process making it scalable.
If you’re managing a business without having found your growth engine you have a major problem. The term startup should entirely be understood to refer to the period in which a team is in search of the growth engine for a new product or service. It is the search not the age or size of the company that’s decisive in other words. A startup mentor’s job should be to guide entrepreneurs to and along the path of this search thereby proactively saving the entrepreneur from a lot of personal headache and misery.
To build an engine of growth for any business you need a laser sharp focus on the customer value you intend to deliver. To succeed, you obviously need customer validation and in the absence of that most will have to test different approaches. In the course of her search, the entrepreneur should be ready to make painful changes to her product and service to achieve what’s called product-market(ing) fit. So focus is not something you can simply ideate your way to but it’s a learning process. The perhaps greatest sin entrepreneurs across the board make, is thinking that building and delivering a great product and service is enough. It might be enough to get your first few customers but the problems hit you later and this time harder.
Joining STARTSMART you will gain support in defining and building your growth engine and the programme along with its experts and mentors are there to support you. Growth is also backed up by themes designed to rid all the typical and unnecessary mistakes entrepreneurs make of which the most important relates to building a team.
CEO & Founder of HUB13
Head Mentor at STARTSMART