It's not scale fast and fail fast. The advice to entrepreneurs is to experiment, fail, learn and repeat. Try things at a small scale and at a low cost, and quickly assess if they work or not and then take a call on what is worth scaling up. The experiments should either stop or continue based on consumer feedback.

An investor-driven sense of FOMO (fear of missing out) enabled certain experiments to raise large amounts of capital and therefore scale up. Whenever there is a chance for large amounts of value to be created, there will be more money than good opportunities. We should recognise this, and investors need to be careful about giving into FOMO and entrepreneurs need to be smart about how they learn from their experiments to allow them to find the best way to create value.

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First Published in Economic Times
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