30 Jun Elements: Core & Key
Witnessing the growth of start-ups is fascinating. One of the elements which intrigues is how there is no single path to success. The core elements are always present: a product or service which adds value to customers or consumers, a business model to capitalize on the innovation, and an unrelenting focus on securing early customers. But how those elements are applied is heavily influenced by the personality of the founder. As the companies progress, they begin to normalize to a more similar model. This is the effect of adding a Board, building a larger management team. But in the early days, we have seen success based on a cautious approach, and an aggressive approach. Fast decisions and slow decisions. A key in building these companies is to ensure the key elements are applied, but still enable the founder to apply them in a manner which compliments their personality.