by Montserrat Bonilla |
For this edition of SCALE Chronicles, Startup Bootcamp spoke with Chris Yeh, a partner at Global Scaling Academy, an initiative that supports founders and partners in applying the principles of a methodology named Blitzscaling.
He is also a member of Wasabi Ventures, a global risk and venture fund, startup incubator, and consulting firm. He is currently an active angel investor and advisor to a wide range of startups, but his latest publication Blitzscaling: The lightning-fast path to building massively valuable companies challenges all assumptions around rapid growth.
This book was written in collaboration with Reid Hoffman, partner at Greylock Partners and co-founder of LinkedIn.
According to the authors, “blitzcaling is a framework, which incorporates the business model and management innovations that have driven the success of Silicon Valley’s most iconic technology companies”.
Our first cohort had the honor of speaking with Chris and getting his key insights on how to scale their businesses.
In a separate interview, Chris shared some tips from his book as they relate to Latin American fintech entrepreneurs as well as his opinion on our scaling program.
Here is some of the most relevant advice he had for us:
- Launch your product as soon as possible and pivot.
When you already are in the market, there is the possibility that your competitors may be improving their solution. In any case, it’s very important to develop the competence to act quickly. Evaluate your roadmap continually and, when necessary, pivot as fast as you can.
- Lack of infrastructure is an opportunity to blitzscale in a lasting way:
While it might be easier to blitzscale in a developed market, you can actually build a more lasting franchise where the infrastructure isn’t as well established. In these instances, you will need to build the infrastructure you need, which then gives you a long-term advantage in your business. Seize the day and turn problems into opportunities.
- Work on your company instead of in your company:
If you see it this way, you could accelerate the scaling process, because stepping out of the day to day allows you to spot the opportunities that arise and see what you need to improve. Taking time to work on your company versus always in your company means understanding that your growth depends on you, your attitude and leadership.
In addition to his recommendations, Chris Yeh insists that Latin America has great potential to become a fertile ground for growth-stage and scaling startups. “The talent and enthusiasm exist,” he assures, but winning entrepreneurs must be built, in turn become role models, investors and mentors for future generations of founders ready to scale.