The Hard Thing About Building Communities and Startups: Trust and Growth

Kazuki

Hatched by Kazuki

Jul 22, 2023

4 min read

0

The Hard Thing About Building Communities and Startups: Trust and Growth

Building successful communities and startups may seem like two different endeavors, but they share common challenges and requirements. Both require trust from their members or customers, and both need to prioritize growth in order to thrive. In this article, we will explore the importance of trust in communities and the role of growth in startups, and how these concepts intersect.

Trust is the foundation of any community. People need to trust that their contributions will be put to good use, that the intentions behind the community are genuine, and that progress towards shared goals can be achieved. Without trust, communities cannot sustain themselves. In fact, communities only truly become real when they achieve their first win. Enthusiasm alone is not enough to keep a community alive. It is crucial to align the goals of the community with the individual goals of its members. By empowering others to have influence over what matters and what is executed, the community demonstrates that it values the input and contributions of its members. Real trust is formed when the interests of others are prioritized over one's own.

However, even with trust established, communities can falter if they fail to deliver value. This is where the concept of growth comes into play. Startups, in particular, are designed to grow rapidly. They are not just newly founded companies; they are companies with the essential goal of growth. To achieve this growth, startups must create something that appeals to a large market and effectively reach and serve that market. Unlike a traditional business, a startup's success hinges on its ability to scale and attract a substantial number of customers or users. This requires identifying new ideas that have the potential for rapid growth.

Successful founders possess a unique ability to see different problems and identify opportunities for growth. They understand that technology plays a vital role in driving change and providing avenues for new ideas. By staying ahead of the curve and leveraging technological advancements, startups can uncover previously untapped markets and capitalize on them. The growth rate of a startup is a key indicator of its success. Achieving a consistent growth rate is essential, and a good benchmark during the early stages is 5-7% per week. A growth rate of 10% per week is exceptional, while a rate of 1% per week indicates room for improvement.

For startups, growth is not just a goal; it is a constraint that drives decision-making and action. Founders must constantly seek opportunities for growth and act upon them. Sitting around and strategizing without taking action is a form of procrastination. The imagination of growth is what propels startups forward, and the commitment to solving difficult problems is what distinguishes them from ordinary businesses. Growth is the lifeblood of startups, and it should be at the forefront of every decision and strategy.

In conclusion, building successful communities and startups requires trust and growth. Trust is the foundation of a thriving community, ensuring that contributions are valued, goals are aligned, and progress can be made. Growth, on the other hand, is the driving force behind startups, pushing them to create something that appeals to a large market and achieve rapid expansion. To succeed in both endeavors, it is crucial to prioritize trust, empower others, and constantly seek opportunities for growth. Trust and growth go hand in hand, and when combined effectively, they can lead to the creation of dynamic and impactful communities and startups.

Actionable Advice:

  • 1. Foster trust within your community or team by ensuring that contributions are valued, goals are aligned, and progress is made towards shared objectives.
  • 2. Prioritize growth in your startup by staying ahead of the curve and leveraging technological advancements to identify new opportunities and tap into untapped markets.
  • 3. Take action and avoid procrastination. Actively seek opportunities for growth and make decisions that drive your startup forward.

Remember, trust and growth are essential elements for success in both communities and startups. By understanding and incorporating these principles, you can create a strong foundation for your endeavors and propel them towards long-term success.

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