“The rear-view mirror is always clearer than the windshield” – Warren Buffet
2015 was truly our year of learning. We learned while doing things we had been doing for a while, and we learned while venturing into uncharted, unfamiliar territory. At the turn of the year, as we always do, we paused to take stock of what we’d learned from the year gone by. Here are our key takeaways from 2015 –
Don’t Scale Too Fast.
We scaled massively in 2015, starting with acquiring Urbanspoon, which gave us a canvas 3x larger than we had before. We were rapidly launching operations in new geographies and setting up new businesses. Suddenly having that many new competitors in new markets meant everything had to become an equal priority. When you do that, you spread yourself thinner than you want to, and end up losing focus on what matters and what works.
Don’t Pick A Fight With Everyone.
One of the outcomes of scaling rapidly was new competition, and we soon found ourselves at the centre of a battle against everyone around us.
Entering new markets and business verticals either means taking deeply entrenched competitors head-on, or building something from the ground up by trying to change established user behaviour. These can both be very costly things to attempt, so again – pick your battles.