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There is an ancient Chinese proverb that resonates profoundly with our current entrepreneurial landscape, which goes: “May you be lucky enough to be born in times of great change.” We are truly living through fascinating times, and with the artificial intelligence (AI) revolution commanding the world of technology, we have seen a surge in business opportunities.
It’s no surprise that because of pioneering technology, business life cycles are now more compressed than ever before; what would usually take years can now be built within a matter of months. We have unlocked a new realm of startup possibilities. Some of us remember a time when businesses had to painstakingly grow from the ground up.
Nowadays, however, businesses are no longer constrained to traditional methods, or created from scratch- they are assembled like the components of a perfectly tuned car on an assembly line. It’s often now seen that a fully-fledged business can be pieced together in as little as 30 days- regardless of whether it is for a high technology enterprise or a brick-and-mortar setup, the process remains the same.
These same businesses can then be hyper-scaled using the reach of social media, marketing, and the internet.
Gone are the days when the concept of international expansion was seen as risky. It is now the open door to market access and a wealth of opportunities. Thanks to advanced technologies and tools, companies can be easily built, scaled, and achieve ultimate growth; many entrepreneurs can now entertain the idea of global ambitions with ease. So, what makes “an instant startup” possible?
Dissecting the strategies and tools in almost every aspect of a business, from building a technology stack, to creating cutting-edge websites with bespoke branding, lead generation, designing marketing campaigns, payroll management, and onward to the creation of video commercials, managing inventory, and other vital business functions, all of those can be accomplished using technology tools, and, more specifically, AI.
In today’s world, you don’t need to be a software expert or a coder to harness these resources- we live in a low-code/no-code environment. With all these services readily available, companies can be assembled faster than ever before.
The modern business assembly line is thus much like that of a car manufacturer. There are several different designated assemblies, like the shaft gear system, steering column, and braking system; all of which are autonomously produced by a specialized provider- no longer do they need to be built from scratch. There is a similar blueprint seen in businesses today, whereby they use fabricated components can be used to set up a seamlessly functioning organization.
Here, we need a discussion of the AMG model. The AMG model stands for “Assemble, Market, and Grow.” The first phase of the model stands for “assembling, aligning, automating, and activating” the business; this crucial phase A can nowadays be accomplished within a span 30 to 60 days.
During this phase, the primary goal is to bring together the various components and functions of the business. Once phase A is complete, the business must shift its focus to phase M, which stands for “marketing and expanding market share.” This is a crucial point in the process, and where the art of marketing must be at its finest.
However, during this phase, businesses often encounter the “messy middle,” where their initial efforts may seem unsuccessful; nevertheless, this is an integral part of the plan, and it serves as a learning experience, because even though it might not seem like it, but “not going to plan” is “the plan.”
Everything might seem like a train wreck, but a business must grasp this moment -and recover- in order to move forward. Managing the tricky messy middle successfully will lead you to the third and final phase, i.e. phase G, which stands for “growth,” and this is where we see businesses truly take off.
After assembling and activating the business (phase A), and effectively marketing it and navigating the messy middle (phase M), it’s time to focus on substantial growth. This involves a concept called “blitzscaling,” which is a pivotal part of growth.
Unlike traditional approaches that begin local before going global, modern businesses have the advantage of operating in a global marketplace from the outset. This phase also emphasizes “gainful growth,” which means pursuing not just growth, but also profitability.
Utilizing efficient tools to reduce costs thus becomes paramount here. The goal is to aim for markets with a substantial addressable market size, which is usually referred to as the total addressable market (TAM), with a value exceeding US$100 billion. This ambitious scale is essential for aspiring unicorns aiming to achieve an enterprise value of $1 billion, while growing within their industry.
To build a unicorn in a relatively short period of time (i.e. in under 1,000 days), ensuring the TAM is very large -i.e. in excess of $100 billion- needs to be a key strategic consideration.
In the age of instant startups, the possibilities are endless. By leveraging technology and assembling the right components, businesses now can be hyper-scaled. Thanks to the ever-evolving world of technology, more and more people can create an instant startup, resulting in many turning their entrepreneurial dreams into reality in record time.
This article is from Entrepreneur.com
