There’s immense competition on every market. New earning models are constantly built on top of new technologies. Companies need hypergrowth to survive.
Hypergrowth is a state of existence. Hypergrowth is a muscle car pumped up with nitrogen: first you move fast, and then even faster. It’s crisis meetings; it’s shortage of people, IT crashes and bad publicity. Hypergrowth is ad-hoc decisions with very little planning to fix the big issues. Doesn’t sound very attractive at first but once you get used to the fast pace, you get addicted.
You don’t become a mean, lean, startup machine by accident, however: you need to prepare for hypergrowth. Here’re my thoughts on how.
Sell no matter what it takes! Now! There’s very little you can do once the markets start to saturate. Your market share is and will be what you achieved in the first place.
For us at Tapp this means that agent acquisition is the number one priority. Agents drive our products to market; they’re the ones converting buyers into our customers. We have about 30 000 agents in Southeast Asia at the moment. Our goal is to increase it to 500 000 in two years.
Decision making itself isn’t that difficult but deciding the right things at the right time is. This means that all your short & mid term decisions must be understood from an impact point of view; nothing else matters. Making decisions on time, in turn, is the result of recognizing signals from the noise. Practicing this skill pays off: good decision-making capability enables you to use a lighter governance model, which in turn increases your speed of responding to changing market conditions.
At Tapp, we first map out our actions and assumptions. For example, when we launch an agent acquisition campaign, it’s an action, and we trust that it’ll have an impact: more registered agents. We assume that each agent has a certain buyer population and that this will finally convert into, for instance, increased electricity sales. Sounds simple, and it is, but you just need to do it.
The ultimate goal of every organization is learning. You need to get better, all the time, in everything.
At Tapp we learn by doing. With this I don’t mean just jumping into everything head on and hoping we’ll learn. No. I’m talking about testing things, gathering data and analyzing it: Plan, Do, Check & Act. We need to validate our models as fast as possible.
Plans and roadmaps are of course needed but it’s important not to wait for the perfect solution. You need to make the best out of what you have at the moment.
Tapp’s business is to further activate people’s economic activity. Our business is to nurture buyers and agents to do more. It’s all about doing: do more and do it differently.
It has to be understood that doing is the result of decisions, and only doing increases your sales and teaches you.
Tapp is a start-up. We’re fast and agile by default and we want to keep it that way. The way to keep it like this is to trust that we all share and agree our priorities: we know how decisions are made, we are eager to learn, and we do things because we’re here for a reason.
Tapp’s reason is to be #HereForGood. We want to connect the physical and digital worlds of commerce and thus increase the economic activity and wellbeing of everyone. What’s your reason of being here?
The writer Tapio Järvenpää has a quarter of century of experience in walking the talk about business development and transformation. He is an author, a keynote speaker, and the COO of Tapp Commerce. Follow Tapio on Twitter.