2516 Views
November 19, 2019
Entrepreneurship is a title that represents one of humanity’s oldest traits – risk-taking. What differentiates a successful entrepreneur from others is their ability to hone this trait.
Being a successful entrepreneur is about making the most educated and informed decision possible, at any given stage of your journey.
Tekrevol as an idea originated in Karachi, Pakistan. Early operations that began from a small room at a friend’s house soon scaled to a shared workspace, and then finally realized its potential in California, USA.
From a team of 2 resources to over 70 people, operating from five offices across the globe, we’ve grown exponentially in only a period of two years.
We owe this growth to the ideology behind Tekrevol’s creation of Structured Chaos and Revolution.
- Ask Questions and Learn!
The Ideology
Our ideology is two fronted, first is our implementation of the lean startup methodology to achieve growth. Second, the maximum 5 day time period to make decisions.
Let’s understand what these two fronts actually mean.
-
Lean Startup Methodology
The lean startup methodology comes from Eric Ries’ book “The Lean Startup”. Lean Startup refers to the radical development and validation of a business idea.
The key to establishing a strong startup is to discover the viability of a business model through hypothesis-driven experimentation, iterative product release and validated learning.
The aim is simple, with a shortened product development cycle and real-world product testing, you identify the ability of your product to solve an identified problem in the market. Based on your feedback, you adjust your business model to meet market demand and create the best possible solution, from prototyping to a finalized end product.
-
A 5 day decision-making period
At TekRevol, we believe in latching on to opportunities quickly. We follow a maximum 5 day time period for decision making.
These 5 days are crunch periods, in which we analyze opportunities, come up with different strategies to make the most out of them and implement them without wasting time. A lot of entrepreneurs suffer from indecisiveness and lose opportunities to grow.
Our journey to TechCrunch Disrupt and the exhibition of Start Inc. is a real-life example of this ideology and swift decision making. In two weeks, we organized, planned and executed the prototype for Start Inc. which we then unveiled at Disrupt 2019.
Our product was met with a great response from visitors, venture capitalists, and fellow entrepreneurs alike, giving us the exposure we set our sights for.
- Ask Questions and Learn!
Why Entrepreneurs Should Always Prototype
In a world fueled by predictive analytics and educated estimations, the best way to have a competitive edge is to have concrete data and accurate measurements.
Prototyping allows entrepreneurs to make more accurate and educated decisions based on real-world data. Moreover, from an investment acquisition point of view, it helps attract possible VCs due to the proof of an ROI.
- Prototypes help gather data from possible users in the real-world
- It helps refine your product before product finalization – This saves cost and time
- As a Proof of Concept, a prototype is the most convincing article you can have to acquire funding or investment.
As a package, these benefits can help your business succeed in a much quicker and cost-effective manner. We used these exact strategies to find ourselves at the World’s Largest Technology Conference, TechCrunch Disrupt 2019, and I believe for startups and businesses, this is the way forward.
