CRED's Kunal Shah Urges Startups To Prioritise Competence For Sustainable Growth
According to Kunal Shah, Founder, CRED, the fundamental element for any startup's growth and prosperity is a team comprising individuals characterised by 'high ownership, high competence wide range problem solvers.' These team members possess not only a strong sense of accountability but also the ability to tackle a diverse array of challenges with expertise and efficiency.
Shah emphasies the critical role of competence within a startup, asserting that the quality of issues addressed directly reflects the competence level of the team.
He warns that if a team consistently addresses the same caliber of problems, it signifies a lack of competence and can lead to the stagnation of the company's progress. In essence, Shah underscores the importance of continuously pushing boundaries and seeking solutions to increasingly complex issues to drive innovation and growth.
Reflecting on the nature of entrepreneurship itself, Shah acknowledges its inherent difficulty, noting that one can never truly master it. Entrepreneurship demands the constant navigation of a multitude of challenges, each varying in magnitude and complexity.
Shah highlights the entrepreneur's responsibility to provide a sense of certainty to stakeholders, including team members, investors, and customers, amidst this perpetual journey of problem-solving.
Furthermore, Shah dispels the notion that formal education or training can adequately prepare individuals for the entrepreneurial path. Instead, he suggests that true readiness for entrepreneurship comes from hands-on experience and the ability to adapt and innovate in the face of uncertainty.
In essence, Shah's insights serve as a guiding light for aspiring entrepreneurs, emphasizing the importance of a competent and adaptable team, as well as the relentless pursuit of innovative solutions to diverse challenges. As entrepreneurs navigate the complexities of their journey, Shah's wisdom reminds them to embrace uncertainty and approach each obstacle as an opportunity for growth and innovation.
