Startup is a phase. Eventually a company will and should grow out of that phase. Normally in 2-3 years. To remain in Startup mode is actually to invite atrophy. A company that has emerged to a point where they have a loyal customer base and a viable business model does need to adopt some traditional customer facing processes for sales, marketing, delivery and after-sales services. Otherwise, they risk losing that customer base.
Why is the Canadian Tech Entrepreneurial Dream too often just a wish for a multi-million dollar exit?
When listening to Canadian would-be entrepreneurs, it seems that quite often you hear their dream is to start a company, grow it to the point where some other larger American company comes along and buys it, enabling the original founders to walk away with millions of dollars.
True Innovators welcome competition
The concept was put forward simply. When what you are developing is so innovative that you are developing something not previously envisioned, having other players do something similar helps build credibility for your product. If you are the only one exposing a novel idea or product, then people may not listen. If there is more than one voice promoting new concepts, then the market may be more willing to embrace and adopt the new ideas.
As a Founder, when do you seek help?
I’m reminded of the Product Management principles of Buy, Build or Partner, and feel in some ways this is doing that type of evaluation on the product of you as Founder. I believe stepping outside of yourself and doing this type of assessment is key to a Founder’s success and a great learning experience.
