In my pursuit of sharing simple frameworks for founders and owners, I have come up with an equation around execution, since in a startup it is all about executing the idea.
Here is how I would like to elaborate on rigour and speed.
Rigour, there is a need to have a rigour around:
- Pursuing the purpose and values
- Process orientation, consistency in approach
- Discipline and focus on goals, outcomes, timelines and priorities
- Frequent monitoring and mentoring
- Capital and resource allocation, unit economics, profitability, ROI, Time to value
Speed is defined as:
- Hunger and urgency to execute strategy in a mission mode
- Having inspired, passionate and empowered teams and their incentives aligned with company goals
- Adapting to customer insights, congruence of technologies, regulations and emerging trends and business models
- Being agile and flexible, quick and tough decisions basis data and gut, learning and acting fast
I believe rigour and speed will lead to scaling up faster than we can imagine which eventually creates a virtuous cycle of sustainable growth.
January 2021
