BUSINESS: Building Things in Startups, how I would do it! (Part One / Five)

Having spent over a decade (of my 20 year career) in the startup world, I've witnessed the Everest highs and Mariana trench lows of operating within early stage startups. Whilst it may seem that these are two somewhat exaggerated extremes, if you have ever worked within early-stage this will resonate. 

From navigating client expectations, clients early in their journey, ever evolving requirements, product gaps and product pivots. The pressure to move fast, win business, deliver at speed and to differentiate creates a pressure chamber that is unlike anything you are likely to experience in larger and more mature organizations.

Over the coming weeks, I will be sharing insights and perspectives of forming teams, building products and delivering to clients within early stage business. Ill be drawing from a depth of experiences and insights gained through various leadership roles within start-ups. It's important to clarify that while I haven't served on the C-Suite or founded my own, my journey has provided me with a wealth of knowledge and practical wisdom worth sharing. So here we go:

Let’s start with strategy; from my perspective, four key strategic pillars are ‘make or break’ during the early stage. Whilst these are not unique to any business lifecycle, they become ever more vital when things are getting started, as follows: 

📈 Winning Meaningful Business and Keeping it: Winning meaningful business that drives revenue growth - and keeping it. It's not just about an exciting projection or forecast; actual revenue is the lifeblood of your business and how you prove yourself to your investors!

💡 Path to Profitability at Scale: Building for scale from day one is non-negotiable. No room for empires - simplicity and scalability are the name of the game. A fine balance of planning for your scale inflection point and sucking up those painful manual processes short to mid term is key.

🌟 Table Stakes & Differentiation: Go to market with an MVP that at least gets you a seat at the table, don't overcomplicate it, let your MVP win your first clients and differentiate as you prove your market fit.

📜 Regulatory and Compliance: Navigating regulatory landscapes is paramount. Losing a deal or finding that a product isn't quite the right fit are small fry. Missing a regulatory requirement can risk the instant loss of your entire business!

So what’s next: I am going to be exploring the four pillars, there challenges and opportunities As you join me, I am interested in the shared experience of this point in the journey, do you agree? How have your own reflections been different? Let’s discuss.

Stay tuned for Part Two: Winning business and keeping it!

📸 Austin's 'Jenga Tower', how I wouldn't build a building.....