As the market has been hot for 10 years straight now, people imagine a startup to be a glamorized life in Silicon Valley. Even the guys in the TV show Silicon Valley had moved on from scrappy startup from their house to a fancier set for the later seasons. However, there are still scrappy startups. The founders of scrappy startups are the most resourceful and creative people we've met in Treehouse Society. Here are five lessons after chatting with our scrappy startup members.
Be efficient with your time
There is a sense of urgency in a startup as seed fundings can run dry quickly and burn rate could get high in a startup. Always be efficient with your time as time is the biggest asset in your business and life. Don't be ashamed of outsourcing
There is a sense of pride in building and making your product. However, there are times when you need to outsource to get work done, and there is nothing wrong with that. You should use comparative advantage to your advantage here.
Don't focus on your competitors
Any scrappy startup should not dwell on dealing with competitions or struggling to do what the competitors are doing. Instead, it is very crucial to focus on what you are offering, where you want to be both in the short run and where you want to be in the long run. In that case, competitors should not be something that will give you a headache but as a source of inspiration and a source of ideas.
Always, never leave a problem unsolved
The basis of success in a new scrappy startup is to solve problems that may be encountered along the way. It is through solving these problems that you will be in a position to head in the right direction. When problems are left unsolved, they will pile on. The problems that are encountered today should be solved today and problems faced tomorrow must be solved tomorrow.
Get the Biggest Bang out of Your Buck
One must be lean in a scrappy startup. Live and work within your means so you don't end up burning money and resources on unnecessary items. This is why most startups choose to work in a coworking space to be within their means.
Treehouse Society is a place where scrappy startups could get a space with the biggest bang out of their buck. This is why so many scrappy startups choose to be based out of here. Take a tour today to find your nook here!