Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram LinkedIn
    SnapMunk
    • Startups
    • Crowdfunding
    • Industry Insights
    • Startup Directory
    • Newsletters
    SnapMunk
    Home»Industry Insights»Creating A Startup at 90 MPH
    CreatingAStartupatMPH
    Industry Insights

    Creating A Startup at 90 MPH

    SnapMunkBy SnapMunkMay 15, 2015Updated:December 18, 2016No Comments3 Mins Read
    Share
    Facebook Twitter LinkedIn Email

    In the early days of Facebook, Mark Zuckerberg had one sole focus – growth. When business partners and employees would suggest ways that the platform could be monetized, he would have a simple reply “How does this affect growth?”.

    The fact is that in the startup world it is often scale or die. Companies that are unable to expand quickly will lose their market to competitors which are able to expand more rapidly. Learning how to produce and manage hyper-growth is an essential skill set for any startup founder. Here’s what creating a Startup at 90 MPH looks like:

    Focus On Financing

    Having available cash isn’t enough for a fast growing startup. You need to predict your future needs for financing so that you are well prepared to meet your needs. Even a temporary lack of financing can temporarily halt development and expansion. This can be enough to give your competitors an edge they will exploit.

    Build Solid Management

    As a startup founder you may have the ability to manage small teams of people. But what happens when you suddenly add an additional 200 employees in the space of several months? Keeping all of those new hires on task and on mission require management talent. Make sure that you are ensuring adequate management to run your fast growing company

    Speed Up Product Development

    Product development used to exist in cycles of several years. For a super fast growing start-up that is simply to long. Accelerating your development process is essential to ensure that you are keeping up with the market. Note the rise of Zynga, which launched in 2007 and within 3 years was worth half a billion dollars and then peaked. The ability to quickly develop in -built virality was its success formula. If it had spent longer in development it would have missed it’s relatively small window to cash in.

    Get A Loyal User Base Fast

    You need to develop a core croup of loyal customers who will support your product. These loyal users will support your product as you are iterating and developing from it’s core functionality. Make sure that when you are experiencing hyper growth you don’t neglect this core group of users.

    Find A Mentor

    Getting an outside, experienced opinion is important for any business. But when you are growing at 90 mph, you definitely need the advice from someone who has already been down the same path as you. They will be able to provide you with advice on matters such as whether your organizational structure is enabling or limiting your growth. These are things which can be very difficult to see from your own perspective.

    The need for hyper-growth is the new reality for companies that want to scale and dominate globally. Whether it’s online financial transactions with Paypal or house sharing with Air BnB, being the second best start-up in your market, frequently means being left far behind. It’s the 80 / 20 rule on steroids, with the company’s that are able to manage hyper growth being the clear winners.

    SnapMunk
    • Website

    Related Posts

    Why the Last, Shittiest Ever Black Mirror Episode Is Definitely Its Best Ever Episode

    June 13, 2019

    Apple September 2018 Event: iPhone XS, XS Max, and More

    September 13, 2018

    Apple September 2018 Event: What’s in Store

    September 11, 2018

    Self-Driving Technology Set to Tackle Deliveries and Last-Mile Logistics

    February 27, 2018
    TOP POSTS

    Beyond Bonjour: Mastering Languages for a World Without Borders

    March 26, 2024

    Speak Like a Boss: Mastering Languages for Startup Success

    March 26, 2024

    Save Money While Going Green With Arcadia Power

    July 25, 2019

    3 Compelling Reasons Why Your Tech Startup Needs A .TECH Domain

    June 21, 2019

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    SnapMunk is dedicated to providing readers with all things interesting, exciting and entertaining in the world of tech news, startup companies and startup culture.

    We're social. Connect with us:

    Facebook X (Twitter) Instagram LinkedIn
    TOP INSIGHTS

    Beyond Bonjour: Mastering Languages for a World Without Borders

    March 26, 2024

    Speak Like a Boss: Mastering Languages for Startup Success

    March 26, 2024

    Save Money While Going Green With Arcadia Power

    July 25, 2019
    GET INFORMED

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    Facebook X (Twitter) LinkedIn Instagram
    • Home
    • Startups
    • Crowdfunding
    • Industry Insights
    • Startup Directory
    © 2025 SnapMunk. Designed by SnapMunk.

    Type above and press Enter to search. Press Esc to cancel.