In our generation, the number of start-up companies that have sprung up is probably more than the number of companies that existed 50 years ago! In every other field, people know what must be done and what must not be done. Yet, invariably, more and more start-ups perish down the line, unable to hold their breaths. Various reasons can be attributed to the failure of a start-up.
At the initial stage, every start-up analyses and evaluates its ecosystem and takes sound decisions such that the company doesn’t break while progressing to realize its dream. However, as time goes by and the team gels together, the company gains confidence; blindsided by the confidence, some decisions might go against the company. And then there comes a time when the company finds itself facing an opportunity where a critical decision needs to be made. This decision could potentially make or break the company.
Leaving off the opportunity would do no harm. The company could simply continue to scrape the rock with a spoon. But taking up that opportunity has a risk involved in it. You might be banging your head on the rock or you might be drilling right through it. Plans and commitments for the current customers would have been already made and the work in progress would be right on schedule. The new opportunity will provide more resources to complete all the plans and commitments easily and efficiently. Also it will help the company to expand its territory vastly. But all this would come at an expense of a huge time delay (for the existing customers). The company/team needs to invest double the amount of energy and efforts to get the right returns out of the opportunity but they need to make sure that they don’t lose the current set of customers by delaying their requirements.
How can that possibly work out to everyone’s benefit? The trick is to tell the child, with a smiling face, that mommy is arriving soon, even though it is already known that she will be hours late. Do everything needed to keep the child calm (which is not at all an easy task). But that calmness will help the company immensely to keep its focus on the opportunity.
It is inevitable for every start-up company to have the good, the bad and the bold. But only the outcome of the bold would reveal the true character of the company before the world.