Capital, Product and Marketing are the three key pillars through which a startup can become a sustainable company in the long run. Many startups end up focusing only on one or, at most, two of these pillars, which negatively affects them sooner or later.
For instance, many companies tend to focus only on raising funds and marketing, while ignoring product development. This approach will lead to your website going down when traffic is high. Even Flipkart had gone through this phase during Big Billion sales, but they have certainly been able to create a balance by scaling up their product since. This article presents an easy to understand framework for newbie founders and co-founders to build their startups.
In a blog written by Dan Schmidt, he presented a way to visualise the pushes and pulls of building a great product. While his objective was product management, I think that the same framework can also be applied to the startup world, especially in the Indian context, where there is too much focus on getting funded. Let’s see what it means for a startup to become a great self-sustaining company in the long run.