Fail Fast. Start-Up Mistake #1: The Lone Ranger
Fail fast has become an innovation mantra in the digital age, the idea being to adapt products quickly to the market or cut your losses. However, as an owner or founder, your capital and your professional reputation are tied up in your new venture, so failure is not an option. In this blog series, we look at start-up mistakes that can cause you to fail fast…and not in a good way.
Picture your new business achieving the pinnacle of success….is it a billion-dollar business? Do you have operations on three continents? Have you signed most of the Fortune 50 or 500 as clients?
Or did you picture yourself heroically riding in to save the day, collecting your reward before dashing off solo to another corner of the world?
One of the rookie mistakes that even incredibly smart people make when building a business is trying to be the Lone Ranger and go it alone. You can quickly fall victim to your own biases and blind spots. However more often, these businesses fail fast because they can’t scale or grow.
A thriving business, especially in cybersecurity, relies on massive amounts of brainpower to succeed.
Going it alone is an easy mistake to avoid. Build a team and advisors. Find experts and influencers in your market who can help your fledgling venture succeed. Sounds too expensive? It is a worthy investment, however maybe you start simply with an admin to keep you organized and focused, or look for a partner whose skills complement your own.
Or find another team whose strengths you can leverage for growth. This doesn’t have to be traditional employees — maybe you choose a consultant for a project, hire an agency, or reach out to a freelancer. Perhaps they are professional services-oriented, or marketing experts, or sales ninjas. Team up for success.
Put your strengths to the company’s best advantage and offload functions that others can do better.
Successfully building a team requires a thoughtful assessment of essential functions and who is the best person for the job. However it may be painfully obvious where you need help if you’re ignoring critical tasks because you simply don’t like to do them, e.g. preparing invoices or posting to social media.
If the basics are covered, then consider what will have the biggest impact on your revenue growth. As the old adage goes: Sales hide a multitude of sins.
Consider marketing pros who understand your core value proposition and can help you identify and penetrate your specific niche. Whether you launch an email campaign, craft new content, or purchase some advertising, you’re generating demand and laying the groundwork for the next phase of growth.
Growth hackers for hire.
Maybe you’ve already pinpointed the support you need to grow and just need a team that can put your plan in motion. Or maybe you need a good sounding board to explore new ideas. At Katzcy, we’re proven growth hackers and offer a broad portfolio of services including market strategy and planning, brand development, market assessment, and campaign management. Whether starting up or scaling up, let’s talk about ways to accelerate your success.