Business Planning
What's one very important attribute of a successful start-up? Is it the
brilliant idea? Continuous innovation? or the plain old execution? All
of the above are important for the young company to survive and
flourish. However, I am planning to few of my own, I have realized that
focus on execution is key. There are tons of examples of companies that
had just another product like many others but out shined the rest with
pure focus on execution. It's at any day better to bring a quality
product with me too features on time vs. one with whiz bang features a
year late.
Now, how do you build an execution machine? Focus, Focus, Focus. Focus on one thing for the entire team to strive for. Focus on building the team with members who have built the same into production many times before. Focus on building a quality product to solve a need in the market. Let us focus on each one of these criteria to understand a bit better.
Focus is everything in a start-up. It pays for the development team to focus on delivering one product. It pays for the marketing/sales team to focus on one market. It may even pay to keep the focus on requirements from a carefully chosen one customer. The focus delivers a solid understanding of the needs of the market and keeps the development team motivated to deliver one product. Distractions are too costly for any start-up that typically runs on a limited source of cash.
Now that you are focused on the right market with the right team, it is time to focus on the 'needs' of the market. It's very critical that the entire team understands and differentiates the 'needs' of the customer versus the 'wants' of the customers. This is not easy. It took me a couple of hard learned trials to grasp this concept. The customers will always want more for less. The market will always want everything for free. If the customer needs it, he will pay for it.
Now, how do you build an execution machine? Focus, Focus, Focus. Focus on one thing for the entire team to strive for. Focus on building the team with members who have built the same into production many times before. Focus on building a quality product to solve a need in the market. Let us focus on each one of these criteria to understand a bit better.
Focus is everything in a start-up. It pays for the development team to focus on delivering one product. It pays for the marketing/sales team to focus on one market. It may even pay to keep the focus on requirements from a carefully chosen one customer. The focus delivers a solid understanding of the needs of the market and keeps the development team motivated to deliver one product. Distractions are too costly for any start-up that typically runs on a limited source of cash.
Now that you are focused on the right market with the right team, it is time to focus on the 'needs' of the market. It's very critical that the entire team understands and differentiates the 'needs' of the customer versus the 'wants' of the customers. This is not easy. It took me a couple of hard learned trials to grasp this concept. The customers will always want more for less. The market will always want everything for free. If the customer needs it, he will pay for it.
|
|
