Grow fast or die slow. That's one of the most repeated phrases in the startup world. A McKinsey report by that name found that startups that grow less than 20 percent annually have a 92 percent chance of closing within a few years, leading to the phrase being accepted as true. Now, the phrase has been closely associated with entrepreneurial efforts of all sorts.
Whether you agree with the assertion or not, the truth is that scaling is important for a business to succeed. The faster you scale, the faster your startup will get off the ground. This is where A.I. can help. A.I. tools can automate time- and resource-intensive processes like talent acquisition from start to finish. Using them will allow you to accelerate your company's growth and can aid your human resources, making the process more efficient and cost-effective.
1. A.I. gets you to market faster.
Part of growing fast is getting to market faster. With the startup ecosystem being so competitive, it is not uncommon for two entrepreneurs to have a similar product. In such cases, being the first to launch your product can be the difference between success and failure. No matter if it is a game of chess or a startup, the first-move advantage is real.
The importance of getting out there fast is one reason why entrepreneurs pay so much attention to scalable processes. To achieve scale, most businesses often dismiss financial and quality costs to decrease production time. This is why startups like Uber, WeWork, and MoviePass didn't care much about failing to make a profit for years. While this strategy can pay off in the long run, I've seen how it can also result in disaster.
Continue reading: https://www.inc.com/joel-comm/ai-business-startup-grow-successful.html
Whether you agree with the assertion or not, the truth is that scaling is important for a business to succeed. The faster you scale, the faster your startup will get off the ground. This is where A.I. can help. A.I. tools can automate time- and resource-intensive processes like talent acquisition from start to finish. Using them will allow you to accelerate your company's growth and can aid your human resources, making the process more efficient and cost-effective.
1. A.I. gets you to market faster.
Part of growing fast is getting to market faster. With the startup ecosystem being so competitive, it is not uncommon for two entrepreneurs to have a similar product. In such cases, being the first to launch your product can be the difference between success and failure. No matter if it is a game of chess or a startup, the first-move advantage is real.
The importance of getting out there fast is one reason why entrepreneurs pay so much attention to scalable processes. To achieve scale, most businesses often dismiss financial and quality costs to decrease production time. This is why startups like Uber, WeWork, and MoviePass didn't care much about failing to make a profit for years. While this strategy can pay off in the long run, I've seen how it can also result in disaster.
Continue reading: https://www.inc.com/joel-comm/ai-business-startup-grow-successful.html
