“In business, emotions should play a secondary role and logic a primary one”
Deepankar Rustagi is the founder of Vconnect, an online business directory and local search engine in Nigeria.
This episode is a lesson on how to get traction for your startup by focusing on ‘One Metric that Matters’!
It is very tempting to do a lot of things at the same time as an entrepreneur.
Deepankar had the same challenge. But he had a good advisor who told him to focus on one thing only.
They focussed on a single metric – the number of businesses added to Vconnect platform within a specific geography. And that was a major contributor to their early success.
I have seen this work a lot.
When I get the team at Starta to focus our energy and resources on dialing up a particular growth metric, we see traction. But it’s easy for us to fall into the trap of pursuing many rats…..
Deepankar fell into that trap too. They tried to pivot into becoming an ecommerce platform.
That didn’t go well.
But it was a good experiment that provided significant learning for them.
One of my biggest takeaway from this episode is this: ecommerce business is harder and more complex than people think it is from the outside.
Ecommerce is one of the most difficult business to scale. And success is dependent on a lot of factors that is beyond the control of one company. Ecommerce companies are built on a lot of existing and continuously innovated infrastructure such as payment, logistics, stock management, consumer behaviour, merchant education and trust.
If you run a business that sells, or has a potential to sell via ecommerce platform, this episode is for you.
Stay humble, stay focused, stay grounded.