Rahul Singh

One of the most important things I have learned while building businesses is that speed matters. It’s by far the most crucial trait that helps founders succeed (eventually). That sense of urgency, the bias for action, and the drive to move fast and get things done are essential.

There is no excuse for lacking speed

Not funding, not a lack of resources, not insufficient data or clarity, nothing. If you are slow, it’s on you.

This principle holds true regardless of the size of the business, the industry you are in (with some exceptions like healthcare and pharmaceuticals), and your team size.

In the first three years of building Winkl, we tried almost 8-9 different ideas, pivoting every 3 to 6 months with slight variations, tweaks, and sometimes a complete 180-degree turn. From a proximity marketing solution for hi-street brands, to a Quora like consumer app for lifestyle topics, to a blogging platform for fashion bloggers and what not, before we finally arrived at the creator economy space. And this was only possible because we were not afraid to move fast, execute on ideas with definite timelines and clear goals before we decided to pivot.

Execute fast till you find something that works

There was never a question of shutting down the startup. Our mindset was to execute enough ideas till we find something that works.

Similarly for most startups, what matters most is speed in two primary aspects: decision-making and execution.

Business is a very complex game with multiple variables, incomplete data, lack of clarity, daily highs and lows, evolving consumer needs and so much more. The only job of a founder is to get closer to the truth every single day. The truth reveals whether the business will succeed or not. Speed helps you discover this truth sooner rather than later.

Discovering this truth sooner can help you survive and pivot if needed.

Eliminating risk from your business

In the initial phases, every new business faces multiple layers of risk: idea risk, execution risk, market risk, team risk, and so on. Executing fast helps you eliminate the idea and execution risks, which in turn helps you address other risks sooner.

The speed at which you eliminate these risks can lead you to build a meaningful and sustainable business.

Seeming directionless is ok

Sometimes, speed is confused with a lack of direction. To the outside world – your investors, colleagues, friends & family – it might seem like you are running around like a headless chicken. But that is ok! You owe it to yourself and business to ensure you execute fast and get to the bottom of things.

In Winkl’s first 3 years, I was a joke in my friends and family circle that I would be running a new business every time they met me.

Seeming directionless is ok. From the outside, others have limited context anyway.

However, the reality is that more often than not, you do not know if the direction you are heading in is the right one. In such cases, it is better to err on the side of speedy execution, of course with some thought!

Executing fast requires a certain level of intuition, gut feeling, belief, and confidence in what you are doing. If you need to analyze every decision in depth, weigh the pros and cons, consult people, look at data, and then make a decision, it’s usually too late.

Once you have quickly decided on a path, it is a sin and a disservice not to execute fast.

As with most things in life, discovering the truth earlier in your business will lead to better outcomes.