Scaling that online business is not by force or by working 60 hours in a week. The most important element is your business model. If that business model does not align, your efforts will offer marginal value. Greatness comes in companies when unit economics improves. And how do you do that? You look at your marginal cost.
Until you can deal with that marginal cost, improving your distribution and transaction costs, scaling may be hard. Wear your thinking cap and revamp that business model, the most important element for the success of firms.
Sure, the Board hires the CEO. And the CEO commits a company to a business model, which is the construct upon which value is captured in firms. If you run an expired business model, no matter how hard you work, you have no market mission. #examine #rethink and #win.
Never try to scale a business until you can retain customers. That customer retention is a validation of your business hypothesis via a product-market fit.
A growth playbook which begins when a company cannot retain customers wastes resources. You are likely going to onboard customers, but the day that marketing or promotion blitz stops, the customers will move.
Build. Pursue product-market fit. Then Scale. #glory
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