Growth at all cost, I’m not for it
Startups and business are often tooted for high-growth in customer acquisition.
Many are quick to blow the horn that they’ve acquired “x” amount of users. The biggest problem, turning these users/customer base into paying customers.
I love companies such as Buffer & Basecamp. They’re innovative yet there’s something mature about their process. I think the word I’m looking for starts with a “p”. Oh, I got it.
I use to think I wanted to work in a “startup”. Where I got to wear many hats and dive deep in creating value for a client base. I still do, however, what I’ve become obsessed with is creating viable businesses.
Not at all cost but at the right cost.
The sweet spot I call it.
Will there be times where a business doesn’t start off profitable. Yes! However, it shouldn’t be all the time.
When we teach a generation of entrepreneurs that having fun means blowing through VC money and failing is just part of the process (I’m not speaking about regular business highs and lows). I’m talking about blowing through 20 million without proper monitoring of what it truly means to run a business.
Entrepreneurship has become Instagram sexy. However, I’m down to look at the data and finances now more than ever.
I don’t want to sell others a dream, I want to make sure this dream is profitable. Because when you hire someone you’re making the choice to say as an employer we’re responsible for how someone will feed themselves and maybe even a couple children.
That’s not something to play around with. And nothing to laugh at.
Yes, a business can be fun and downright exciting.
However, let’s not forget to own a business is a responsibility.