4 types of scale – Venture Hacks

In detail:

1. People. Hire people to help you. This will be your first instinct but it should really be your last resort.
2. Product. Build product to do the work for you. Every single product in the world is a type of scale. Facebook has taken this to the extreme through automation.
3. Capital. This is what VCs do. They raise billions of dollars, invest it, let their CEOs manage it, and hopefully profit.
4. Community. This isn’t a recent innovation but it might seem that way. Communities have been banding together for a long time to form countries, topple dictators, knit, save the environment and so on. But now they’re forming quicker than ever and building products like Wikipedia.

I enjoyed this post on Venture Hacks today. It actually reminded me a lot of a post I did a few years ago on the inputs of entrepreneurship.