A conversation with Arpit Mishra on HackerEarth talking about entropy in startups and how they can be both a boon and a curse…
We talked on:
So, should startups focus on cost, speed, or quality?
There are exceptions where systems operate critical or life-death operations.
During these early stages, startups are still figuring out their product-market fit. In a noisy and highly competitive SaaS-based world, product-market fit makes or breaks a startup. In addition, the team dynamics and leadership of the team are also at a rapidly developing stage. The lean startup fail-fast-cheaply is a sound philosophy for that reason. Consider it the first entropy challenge.
As the product-market becomes solidified, a startup either plans quality rebuilds on parts or the entire platform completely. At this point moving forward, quality efforts that translate to better customer experiences impact growth. Good growth provides greater funding and customer retention.
Personally, I favor product-led startups and startup founders. Usually, the solutions and vision are robust and their approach incorporates resiliency… and their exits and multiples are far greater (3 to 5 times more than other typical startups). For these types of startup/founders, they are very likely to respect entropy, however, even their understanding of the earlier stages is about speed and fit to gain critical initial momentum.”
Read these and more about growth in the tech side of the house! https://www.hackerearth.com/blog/talent-assessment/software-entropy-startups/