Adam’s Startup Failure: Measuring The Wrong “Speed”
When driving a car, we look at the speed gauge to know how fast we are moving. The higher the KM/H, the faster we are moving, and the faster we are to reach our destination. More often than not, entrepreneurs relate to this very basic understanding to gauge the speed of their actions at the progress of their own startup. It is this very basic understanding that have both driven most startups to failure and a few towards success. The difference lies not in the act of measuring speed, but the more fundamental definition of “speed” itself.
Like driving a car, startup entrepreneurs need to look at the right gauge to measure the “speed” or rather progress of it’s startup. Too often than not, entrepreneurs tend to look at things that are more tangible (i.e. like the speed of the car’s movement). This need to see something tangible fast is often fuelled by the need to achieve financial stability.