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Accelerating" in the context of a startup refers to the process of rapidly scaling up the business once the initial idea has been validated and is showing signs of success. The aim is to grow quickly while continuously improving and adapting to feedback. This is important for several reasons:
Firstly, it allows the startup to capture a larger market share before competitors can catch up. This is particularly crucial in industries where being the first mover can confer significant advantages.
Secondly, accelerating can help attract further investment. Investors are often more willing to put money into a business that is growing rapidly and has a clear plan for expansion.
Lastly, accelerating can create momentum within the business, boosting morale and attracting talent. A fast-growing company can be an exciting place to work, which can help in recruiting and retaining top talent.
Remember, however, that accelerating should be done strategically and sustainably to avoid overstretching resources or losing sight of the company's core values and objectives.
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In keeping with the premise of a lean and fast startup, once a vision is being steered in the right direction, it's time to hit the gas. Readers will learn that this phase is designed to keep things moving while improving along the way. They will learn how to us the "small batch approach" to get through the feedback loop quickly. They will learn production methods like the "just-in-time" method that keeps innovation and design efforts efficient and effective.
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New business ventures are both exciting and risky. New ventures are risky as the main idea may or may not work, yet the chances of success are much gr...
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