Each of us who starts up, some of us are first time entrepreneurs; in fact most are firs-timers in Indian ecosystem. We are fine at the start with 2 co-founder sketching an idea to start and some early proof in establishing that there is a market. We go on to expand the team and growth picks up with let’s say 5 people team. Everybody is happy and we think we know the trade. This is where we start our own ‘growth’ limitations. And this happens to most when we are mostly at Pre-Series A or at Angel funding stage. This is the stage where 80% of startup dies a brutal death.
I walked to a fellow CEO’s office to understand how he runs his business. Some super learning and practicals on how he has grown his company 9x in less than 6 months.
I thought to jot down this blog post as part of #PayItForward sharing philosophies. Here are five things that you must do to expand capabilities and grow positively.
Get a mentor
There is no excuse that you don’t need a mentor. Don’t expect your mentor to say yes for everything. Don’t expect mentor to be your sales man. Use your mentor for insights on certain part of the business, specifically growth (I’m assuming your mentor is an entrepreneur — been there, done that and failed/succeeded in his/her endeavour).
Get an active investor board
Just not money but smart mind gives your investment an instant return. Establish an active board with your investor board members participating regularly. Without this, you are going nowhere! With this, it doesn’t guarantee success but you definitely gain more insights on growth.
Drink Coffee
Oh yes! Go out to drink coffee and meet people in Startup ecosystem. Do some #PayItForward type participation in helping other Staruppers. There is lot to learn from others.
Join a peer network
You need a ‘peer’ network which could be an independent ‘sounding board’, informally. Though you have mentors, advisors, investors who are super in sharing their time for biz. However, to keep in touch with ground realities, such peer network is the way forward. This peer network is huge as you gain lot of practices they use in their organization.
Meet successful CEOs
Meet other founders & CEOs. Ask them to walk you through how they execute their growth.
