It’s essential to keep things as simple as possible initially, with a total focus on understanding the consumer problem statement. Because when it comes to subscriptions, users drop off a lot — they are commitment-phobic.
In the next stage, startups must know how to decentralise well. A founder cannot go on micromanaging a hundred things. Many startups fail because while they thought they solved a problem, they had no idea about its sustainability in terms of how it would scale economically.
And as far as possible, until you hit product market fit, keep things as lean as possible. If you start hiring too many people for specific roles, it gets difficult to roll things back when they go wrong.
Eventually, it all boils down to two questions: Who are you building for? Do they consumers like your product? In this conversation, Nandan Reddy and Phani Kishan from Swiggy and Accel's Anand Daniel share lessons learned while building and scaling their startup in a crowded market.
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Over the past decade and a half, new-age marketplaces in India have transformed how people buy and sell products and services. From Flipkart to Swiggy, Urban Company, and Zetwerk, each has reimagined "the bazaars," shaping the future of commerce and livelihood in India.
Starting November 3rd, we will share stories from the trenches about building and scaling these marketplaces, along with foundational lessons from their journeys.
Learn more: https://bit.ly/3DqT87o
