Speed, Relevancy, and Money — 3 Things Every New Startup Should Keep

It takes courage to try anything new, including and especially a ‘startup.’ And more risks and fears are added, when you’re from a small town of Pakistan. I am doing this, and I am learning important things along the way. This post talk about today’s learning.

Truth is: When you work at a (new) startup, you work on many things, and it feels like you’re doing everything possible (to make it). Because you and your team is all passionate about the company.

But the bigger truth is, that you’re probably doing many things some/many of them are actually not helping your startup at all. It can be anything, from creating unrelated content, to connecting with worthless people. Reading Mashable to going to a bad VC, and anything in between.

So how should everyone in startup do the work, which is good and worth executing.

I have realised, here are three factors which should be added to each action in a new startup. You can use them as a filter, or as a measuring tool.

  1. Speed
  2. Relevancy
  3. Money
(in no particular order)

1. SPEED

In early days of any startup, SPEED is your friend.

It is extremely important to make sure that what you and your team is doing is right. And you learn this by doing, learning and changing fast. This is mainly because world is changing fast, and startup should always be faster than the already existing solutions.

SPEED in actions help you

  • reach to the result faster.
  • quit the wrong actions early.
  • stay ahead of your competitors
  • waste less time.
  • waste less resources.
  • learn and achieve many things, which you’ll know.

2. RELEVANCY

Once I asked to Robert Scoble, “How likely my a Pakistani startup can be funded from Valley?”

He replied, “World is very noisy, it is difficult to attract.”

We entrepreneurs are distract to many irrelevant news, apps, gadgets, meetups and Facebook friends.

Stay relevant, do relevant, meet with relevant

But there is so much relevant to a new startup, every problem looks to us like an opportunity. We want to convert every person into our customer. We want to go to every event when it is relevant.

Calm down, take a deep breath and glass of water.

Do what is most relevant out of possible doing.

If you’re not sure what is more relevant, then ask to someone who knows (may be CEO, co-founder, mentor, or to an entrepreneur who tried the same thing).

And even if he can not help. Then read the SPEED part again, you’ll know it yourself.

3. MONEY

Money is needed to build and run your startup.

Money is what you want to make. And if money is not your priority, but getting bigger success. Even then you need 1$ Billion to buy Instagram.

As I wrote earlier.

..every action generates a re-action, so get something valuable (money) from your first action (work), which you can you use in re-action (life) practically sometime.

Everything we do (at startup) costs money, so make sure you’re saving and making money.

Conclusion:

Considering a new hire? OR marketing campaign? OR opening a new office? Or quieting your startup?

Your action should be controlled by:

  1. Shall it take me to my goal faster then rest? (SPEED)
  2. Is it the most relevant task I should be doing right now? (RELEVANCY)
  3. Shall it bring me money in any term? ($)

You’re ready to go.

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One thought on “Speed, Relevancy, and Money — 3 Things Every New Startup Should Keep

  1. You Can Write A Great Blog Post If You | Waqas Ali

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