Under Armour CEO Advised Silicon Valley’s Young Startups “Go Make the Sale”
A gentle breeze of the recession has been blowing up slowly around the world’s economic markets, and this recession’s wind is shaking up the Silicon Valley’s young startups and dropped those entrepreneurs in deep thought. Now, it is a nightmare to bring out the profit over those startups even entrepreneurs are very much concerned about their startups.
Recently, Under Armour’s CEO Kevin Plank has come forward with a concern when he saw a startup’s CEO made fun of the lack of profitability and viewers were laughed at it in a tech conference recently. Even Plank disputed at the festival of (SXWS) that benefit is a standout amongst the most undersold things in tech, also shockingly added saying “And I’m going, what are you doing? Winning is cultural. Losing money is cultural. If you get used to losing money, it’s really hard to stop,” he said and also added, “Go let the other guy lose money and fall off.”
Rather, Plank says that business people need to inspire themselves out of the sheltered testing mode while smoldering through cash and demonstrate that they have organizations.
“Get out of the hypothesis mode, and go find out if your product will sell. Is someone willing to take good, cold, hard cash out of their pocket and exchange it for what you have?” Plank said. “Go make the sale.”
Furthermore, if we look back on Twitter the worth of Billion dollars’ startup couldn’t see the face of profit during two years when it came first in the market, even same with Facebook, it took a long time to feel the profit in Zuckerberg’s pocket. In a side, it is a good sign in Silicon Valley that being unprofitable is count as in a right track.
So, it may bring a better profitable future if the entrepreneurs keep patient and make a bold move with their young startups.