Article written by Mauricio Toro CEO/ Co-Founder at TECHFIT Digital Surgery
After over a decade involved with startups, here are the things I wish I had known at the start!
After spending over a decade in the startup world, founding several companies and helping others grow, I have made my fair share of mistakes; Here, I want to share some of my lessons about how to create a robust scalable business that can have a compelling story for capital raising or the focus to grow profitably.
1.) Find a beachhead
Even though we all try to attack large markets, a startup will be limited in its resources. The best way to start is with a very narrow offering (Single product, simple value proposition) to a particular segment that you can use to learn about the economics of your business and strengthen your sources of differentiation. Think big, start small, and move fast. Don’t try spray-and-pray methods for your market, be strategic about who you approach and be on the lookout for growth vectors. Start by being hyperfocused, this allows you to systematically understand what works and what doesn’t. This is where you iterate at a small scale before you start trying to grow without direction.
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