Today, let’s discuss platform startups, especially solo entrepreneurship. To illustrate, we’ll look at the experience of my acquaintance who launched a beta service two months ago.
The CEO of this beta service, referred to as A, is currently laying the foundation for success with a significant influx of users. With 150-200 users joining daily, the service emphasizes the importance of leaving a ‘narrative.’ Let’s delve into the moments of decision and contemplation faced by early-stage entrepreneurs and understand their value.
Speed and Efficiency of Solo Entrepreneurship
The biggest advantage of solo entrepreneurship is that decision-making is at least ten times faster than in team startups. While it may lack precision, speed is crucial in the early stages. With the help of the no-code tool Bubble, CEO A maintains rapid performance, attracting new users daily.
Solo entrepreneurship allows for quick experimentation and immediate response, helping to quickly determine the direction of the service. Speed is vital for early-stage entrepreneurs. An environment where all decisions are made independently accelerates the development of the service.
Reaching Critical Mass
One of the important concepts in platform startups is Critical Mass. This refers to the moment when the platform starts delivering value to actual users. Currently, about 50 marketers are registered on CEO A’s platform, gradually gaining reactions from businesses. This signals that the platform is beginning to reach critical mass.
User activity and data are crucial in platform startups. Even if initial responses are minimal, the process of going from zero to one is a significant leap. In this process, solo entrepreneurship can be advantageous due to its lightweight nature, making it easier to endure the battle of waiting and time.
Comparison of Past and Present
Reflecting on past experiences with platform startups involving a team of eight, CEO A remarked:
The time taken by many to experiment with services or execute marketing strategies equated to ‘money’.
Indeed. However, in solo entrepreneurship, there is no sense of urgency, allowing for ideal decisions and an open mindset for various experiments.
The only drawback of solo entrepreneurship is the lack of someone to discuss ideas with. Although it involves much solitary contemplation, it allows for deeper insights and judgments. CEO A’s platform continues to grow through this process.
Conclusion
The advantages of solo entrepreneurship, as seen through CEO A’s experience, are clear. Faster decision-making, an edge in reaching critical mass, and an open mindset for various experiments. All these aspects make solo entrepreneurship more attractive than team startups.
Why not consider solo entrepreneurship yourself? With fast decision-making and flexible strategies, you can pave the way to success. Take on the challenge now. Success is in your hands!