Startups will grow into empires when owners or founders give
priority in building a system that enables the growth of their
products/services rather than having products/services without a
system.
A system simply means "a framework that provides a
leverage for smooth operations." In business "products make you
money; system makes you a fortune".
Let me share my experience. Few week ago, I founder a publicity
and talent/brand management agency, McPetros hub. We had
nothing but an idea. Our business plan was incomplete, no
website, no business system. We went on and began operation.
We signed an artist to the agency talent management roster. Also,
we carried put some services for our clients.
There was a problem. Since there was no business system we
were not able to deliver effective services for our clients. A
business system makes everything to fall in place.
From research nine out of ten startups fail in their second year
because there was no structure to sustain the products. Every lil
home can make a better hamburger than McDonald's. Lil homey
has a better products; McDonald's have better structure. Who
among these persons will survive at the long run? Do the maths.
Peace.
0 Comments