Mindfulness Note | Speed of Execution
Mark and I have been sitting in the front row of the app economy explosition between 2009 and 2014. We were promoting up to 5 apps daily for nearly 4 years; I’ll let you do the math.
We’ve been fortunate to be in the unique position of being involved with all kinds of business models and accumulated some incredibly deep insights along the way.
We were effectively operating as a VC fund since we were making bets with certain apps by waving charging fees and opting for a rev share model instead.
We’ve observed teams executing identical business models flourish while others crumbled. However, in the end, success was more often than not determined by which team executed the fastest.
The bottom line is that we are operating in a fast-moving fintech environment, and our speed of execution will be the dominant factor that will determine our future successes.
You can read more about the importance of embracing speed as a habit, in the following First Round post, where Dave Girouard, CEO of personal finance startup Upstart, and former President of Google Enterprise Apps, details how speed is the ultimate weapon in business.
Here’s the quote of the week:
“ Service to others is the rent you pay for your room here on earth. Muhammad Ali”
And please take a moment to watch the following 30 seconds clip, which is another sumptuous poem by Muhammad Ali related to the same theme.
Let’s keep pushing.