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In the Doer stage of Entrepreneurship you have three choices to raise your Startup. First you go the Big Bang way. Secondly you choose to bring the incremental growth pattern and lastly you go as your Startup evolves. The last one seems to be a bit indecisive and it will bring in circumstantially provoked scenarios which can be harmful and detrimental for your Startup. As a Doer Entrepreneur your belief should be aligned to the below thought!
“Life is 80% what we make of it and 20% what happens to us.” Tweet This
What is Bing Bang Theory?
The Big Bang Theory relates to the theory how Earth was born. There were massive clashes of heavenly bodies, huge head-on collisions of planets and meteoroids releasing enormous amount of energy. Everything was big, large and tremendous. This resulted to severe loss of resources, casualties and energy but takes lesser time and seems as Big Bold and Beautiful.The better way to understand this phenomenon in Startups is, that you will lose users and may experience massive cash burns with less results but you will move boldly and later you might be able to sustain the brunt.
Donald Trump is a personification of what Big Bang Theory states. During his speeches he promoted some of the radical ways of framing policies of national interests such as US – Mexico border and strong Immigration laws. He favours strong actions and eradicating measures in policy formulation.
What is Incremental Growth Theory?
Incremental Growth theory is around building something from scratch with gradual progress and stability. You could be bigger but the progress of becoming bigger shall be always proportional! The better way to express is that you will have enough amount of experience to handle the new users on boarding you and would support it with robust operations.
Define whether you want to build your Startup the Trump’s way?
Startups are the manifestation of Founder’s belief and execution! No wonder billion dollar companies function with handful of employees and most of them are fuelled by spirits and less of skills. The person who is the curator and the custodian is at the driving seat! He is the impetus behind all of them moving in the right direction yet the beauty is, both the founders and the employees are not good alone!
Your orientation towards or against the above theories will shape the culture of your organisation. If you are attracted by Big Bang theory and are pursuing it only because it attracts you? Think again!
Your system of belief shall be in place much before your execution Tweet This
System of beliefs is the set of principal thoughts you have conceived out of your analysis and experience. These thoughts are always treated as reference points and your subconscious mind tends to direct you to think and act in the same manner.
Being wrong is perception based judgement and may vary but being ethical and unethical is based on facts and common laws of mankind which is considered as sacrosanct and is enforced, if not followed. Till the time you are not going against the laws of mankind and are disrupting the segment with ethical activities, it’s good to continue what you are doing.
If you an entrant, you will have to build these reference points fast which means You have to fail fast to succeed! Some of the founders are able to change their ways and methods fast enough to succeed in the first venture and some may take two or three.
You have to seek maximum synergism between your system of beliefs and the above two theories. Once you are sorted from within, you may start execution.
Why it is good to raise your Startup the incremental way?
Maximum people who won lotteries reach to a worse stage then what they were before, after winning it! The reason is that they have not experienced money in abundance and their system of belief is either not in place or is based out of erroneous assumptions or learning. You are able to manage the surge situation better if you have had similar experiences. The power of experience is valued most in the professional world and no degree or university certificate can replace this!
Let’s understand the same in the case of Startup. Suppose your Startup launched a nationwide campaign and you have thousands of users pouring in, to your website. You have built the interface for people to do maximum signups and suddenly you notice that the bounce rates are high and Signups have significantly gone down. It’s because your product didn’t seem quite convincing to the user, either because you were unable to build the UI/UX the user way or your product lacked by its design and relevance. You can’t build the product again during the time of campaign. The results are that you have failed to achieve your customer acquisition target. Now the reflection time, what could have been better?
- You should have prototype your product and test it before you market it.
- You should have taken smaller user base and much smaller territory to target your campaign.
- The User flow and Navigation to be factored to the last bit and should be completely based out of related user behaviours of your focus group.
- The UI/UX should also have been checked with some Teacher Customers? Don’t know what are Teacher Customers? Read Now How Airbnb grew their bookings to 1 million nights from Teacher Customers.The above list of action items are nothing but the incremental way of doing a project. Going the bigger way needs much experience and as Startups you have to build that to succeed and not the other way around.