What’s Your Profession? Did You Bring More Soldiers?
In 1970s, according to the TV series Mindhunter at least, the FBI was filled with accountants & lawyers instead of more relevant experts in areas that mattered. That is, in place of behavioral analysts.
That seems to have been the case with the Indian Venture Capital industry too for some time now. They’ve strangely been recruiting a concerningly high number of Finance and CA folk. Instead of hiring more right-brained folk who can understand customer needs, likes, dislikes, and the customer experience. Those who can appreciate an entrepreneur’s vision and passion, and perhaps the grueling journey she or he has been through to get there.
Numbers don’t build businesses. They’re the result of it.
If the venture capital sector doesn’t have enough people who can understand a customer’s journey, an entrepreneur drive and vision, among other non-numerical things, just processing numbers will only make so much of a superficial impact. And bring so much of a multiple-x return on investment.
Look at the Indian funded startup space for instance. It even makes one wonder if many of our entrepreneurs possess the vision and passion. Perhaps how Flipkart is try to go after numbers, while Amazon is increasingly trying to improve the customer experience. Or how and why Uber might have logically entered the food delivery space? And more importantly, why did Ola (I hope I’m wrong!) seem to acquire Foodpanda in a knee-jerk reaction to Uber? Or how, while in India we still get mobile phones and media content literally on the same day as any developed country. When it comes to business inclination to improve the customer experience though, we get by with the bare minimum. Why?
Why can’t investors identify truly driven entrepreneurs and be able to align with the entrepreneur’s vision to create an impact? Does pushing an entrepreneur into super minority stake keep them sufficiently invested in the big plan? And is it possible for the overpaid founder of a funded startup with multiple investments of his or her own in other startups, early in his or her own startup journey, to create what people call a unicorn?
Focus! Focus! You need the right people, adequately motivated, to do one job! And to do it right!
Reminds me of a scene from the movie 300. When Daxos and his army meets Leonidas and his brave 300. Have a look!
Maybe there’s a difference between saying ‘customer service’ and doing what is necessary to delight?