If you look at the progress of Amazon as a company between 1997 and 2017 when the latest shareholder letter was published it is quite remarkable.
I have said this before but if you want to see a great example of very long term thinking – read these letters. Amazon as a business has very good cash flows it just decides to invest these in the future. You really can’t fault that as a manager or shareholder.
I am constantly reminded how hard startups are. Your job as a founder is to knuckle down and try and figure out all the hard things that others can’t.
I experience this every time we launch a brand at MoveFresh. We are always over optimistic about how easy it will be to enter a new market or segment and the reality is that once you launch you get hit by all the things you didn’t know. There are a couple of things you can do – KBO (Keep Buggering On) or pivot and try something else or a new marketing channels.
Founders (Including me) are very tempted to give up or try something new – what I am learning to do is to keep going and refining the proposition. Online marketing gives you a great way to test multiple offers, audiences, target markets and landing pages – use this to test your proposition. If you get an offer or product to work in one marketing channel you have a great testbed to try other channels.
Lots of founders who I meet prefer to try something new, but the same problems will be encountered in other segments, so learning to KBO is one of the best traits in a founding team that you can find!