Speed Is Not Enough - Direction Also Matters

Give a startup 100 million dollars on day one, and what happens? In fact, we did that multiple times at a private equity fund, where I last worked.


One would guess that the company would grow at a crazy speed. Why won't it? You can hire the best talent (if you assume that expensive talent is also the best). You can spend on marketing, consultants, and whatever you want.


Yet, almost every time we did that, it ended up as a disaster. Most companies crashed and burned. In one of them, the two promoters are in jail for a sensational murder case. In fact, this company received more than Rs 800 Cr and they burnt it to the ground (and stole some) in flat 1.5 years.


Growing a startup is the second hardest thing. The hardest is to build something that customers love so much that will happily pay a reasonable price for your products - the technical term is product-market fit.


Without product-market fit, a high growth startup is a massive rocket without direction.


If there is one thing that history has taught us, it is this: Be it in life or in business, speed is not enough; direction also matters.

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