How do you beat the market – when you make it big? Competition is the main driver of Blitzscaling.
Building the mobile product is just the beginning of the journey, as there is way more to building the business than launching a mobile application. You have to hire slow & fire fast, be determined on your vision & stay flexible. Scale fast, preserve capital, stay ambitious & be humble. This means juggling lots of variables in an ever-changing environment while preserving a grounded outlook and objective eye.
I’ve made lots of mistakes and experienced many failures in my own career. But the same lesson comes out every time – the only constant in life is change, importance to analyze mistakes, learn, adjust and try again. This is essential to growing personally and professionally. I could have found more reliable partners, diligent employees, better product/market fit, controlled and predicted cash-flow and got funding on time, and thought through every decision taken.
The world isn’t perfect, so we have to be optimistic to motivate all the stakeholders and project future prosperity while staying realistic analyzing our own weaknesses and competitive strengths.
There is always a risk and opportunity ratio you are to keep in mind for every decision you take either emotionally or numerically, but part of the evaluation equation must be the ratio. It sounds easier than it is to execute and act upon as there are multiple various factors to take into account at every: stage of the company, founder’s character, industry, growth plan, balance sheet, collateral damage, etc.
Communication and culture of the team are key – especially viable now in the time of uncertainty, shock and shifting variables. Customer, revenue, and organizational scale, with high customer & revenue scale per employee, only possible to enable with high organizational scale.
Do not get into the trap constantly cleaning the house, make sure 98% of the organization is serving the clients not sold in the internal problems.
Luck is always integral and brings lots of other factors to follow. Live your life true to your beliefs, preserve the family/work balance, and have a purpose. Be open to your weaknesses and work on them to mitigate the risk. Also, understand the society you live in and understand its behavior.
Capturing value, identifying competition, trying to capture “monopoly”, start small and monopolize.
Try to build proprietary technology, every moment in technology happens only ones- next Zuckerberg won’t build Fb or next Google, they are constantly learning and change.
All happy companies are different they all are doing something unique but all unhappy ones are very close to doing something similar that’s not working. Prop technology gives you leverage on the next big competitor, while “network effects” are valuable but super hard to start off engaging the first users to scale.
Creating X dollars of Value and capturing the Y % of market = have rationalization starting and riving the company, not to compete away all the innovation, history of innovation. The battles were so precocious as the stakes were so small. When the market is too small and hyper-competitive you must spend more energy, enhancing rough corners.
85% comes in years very far in the future, therefore growth rates are overvalued (measured and tracked now) and if the business doesn’t lead for 10+ years it’s not creating value for shareholders = tremendous innovation but nobody makes any money.