Is moving fast the same as building momentum? I say no .. moving fast in business is the ability to make quick decisions with limited information a.k.a 'rolling with the punches' and knowing that you can manage the general outcome but also can handle the potential chaos. In tech, speed is seen primarily as an asset in product development. Hence the “move fast and break things” mentality, the commitment to minimum viable products and agile development. Many people would agree that speed and agility are how you win when it comes to product.
Building momentum is more calculated. More strategic and in some cases, slower!
Why momentum is important in your startup?
1. When you have momentum in the business, everything seems to roll forward, stuff gets done, things happen, employees are proactive, customers are happy and extraordinary results are produced.
2. Momentum creates motivation. Motivation creates opportunity and opportunity creates results. That is how it works and that is why every entrepreneur needs to learn to create momentum in their business.
When we are interviewing potential #startups for Bala Group Inc, I am looking for a balance between SPEED and MOMENTUM. We need speed to #MVP but the discipline to create the right momentum for our #startup and to reach revenue goals and growth to hit our target 1M ARR per startups.
Here is another viewpoint to read.