Startup Success: Beginning From The End
Our generation has access to lots of things that our ancestors did not even dream of – Access to sophisticated medical facilities, Internet, personal transportation, infrastructure, communication technology, etc. to name a few. Even with all these one of the most commonly used words in our daily lives is ‘want’.
The line between needs & wants that I studied in my schooling is literally invisible in our daily lives. We are clearly a part of consumer driven generation; success of a business is directly proportionate to number of wants (consumers) it can fulfill.
Yes, The Million-Dollar Question.
The million-dollar question is; what does it take to fulfill these wants? With the rate at which the market is growing & evolving, it would be right to say that it’s indeed a billion-dollar question! Start Ups have access to capital, human resources & technology like never before but in-spite of all these, the failure rates are a whopping 96% upwards!
Every Start Up wants to succeed & make money (including the 96% that just vanished in the recent past). Wanting to succeed has no significance in the Start Up world. ‘Want’ only states your intention but not your ability to execute. Execution is the only thing that differentiates a successful Start Up from the rest.
For every Google, Uber or Apple that we know of, there are probably thousands of better ideas that did not succeed due to lack of execution.
How Good Is Your Execution?
So, the starting point is to ask: how to get the execution right? Execution has very little to do with what you are capable of today, like your talent, qualification or even experience. I’m not undermining these aspects (these can always be acquired along the way). A significant thrust for great execution comes from passion & from loving what you do.
I have always applied a simple ‘beginning from the end’ test periodically to determine if I’m passionate enough or not.
Let’s say you somehow knew that you are going to die in a week’s time. You only have 7 days to live & you’ve got to plan to spend the rest of this time in doing what’s closest to your heart. Please ask yourself this question honestly – will my Start Up find a slot in these 7 days? If your answer is no for a few weeks on the trot then please do yourself & your team a favor – let go! But never give-up until you find something that you would love doing in your last 7 days of your life. After all life is short & only work on something that’s close to your heart.
I believe at Cloudcherry most of my colleagues would pass this test! Because, we don’t fix disengaged people. Instead, we fix the environment where people become disengaged. Because after all, getting the execution right is a team game, isn’t it?