If there is one thing that makes life easier for a startup, it’s a business model that scales. This is one of the key lessons for serial entrepreneur Wil Schroter, founder of GotCast.com, an American Idol meets YouTube site, and GoBig Networks.
“There’s a big difference between growing a business and scaling a business,” he said, in this short video clip where he offers up lessons to entrepreneurs, based on his experience. “Growing a business is what you do when you add people, as you add
revenue. Every dollar you bring in, you hire another person to service
that revenue. It’s a crappy model. I tried it, and it didn’t work out
so well.
“Scaling is different from scaling a business. Scaling is when
you create a product and it sells itself without additional support.” To this end, Wil only gets involved in startups that show that scale is at the “core.”
The two other pieces of advice from Wil are 1) have the biggest vision possible 2) avoid raising money and start with your own and get customers.
