Most startup founders know speed is important. But speed in the wrong direction may be worse than going too slow when it comes to developing a new software product.
Veteran startup CMO and former marketing head of Google play Patrick 'Mad' Mork tells how focusing on the wrong thing killed his startup: “When I was at GetJar in 2010, we had to rebuild a large part of the platform from scratch. We had grown too fast and had made a number of obvious mistakes when it came to scalability. We lost at least a full 12 months rebuilding our systems, when we should have been focusing on other changes that were happening [in] the market. That mistake, among others, eventually doomed the company (along with the $40M we had raised in VC funding).”
In the first of this three-part series demystifying startup failure, I talked about the concept of speed when it comes to building your team. Today we’re going to dive into the concept of focus and how it relates to speed for a startup.