Experience of Multiple Entrepreneurs Reveals: Simplified Efforts, Enhanced Results
Milad Monshipour, a seasoned entrepreneur, has built and exited a company in a challenging emerging market, and his latest venture, AIR, is no exception. Monshipour's key lessons from building two startups in high-growth and high-stakes environments have emphasised the importance of efficiency, focused execution, leveraging experience, and network effects.
In his first startup, TAPSI, Monshipour faced the challenges of creating value for customers and stakeholders, a process that required extensive trial and error. However, his second venture, AIR, benefited from a refined approach to managing product development, team capacity, and feedback loops to drive faster, more impactful outcomes.
One of Monshipour's crucial insights is the importance of efficiency and focus. By understanding how to align his and his team's capacity, he was able to concentrate efforts on project areas that maximised value, leading to more effective milestone achievement.
Another key learning for Monshipour was the feedback and iteration process. He learned to better elicit honest data from users and feed it into subsequent product iterations, accelerating improvement cycles.
Monshipour also emphasised the importance of marketing impact. His experience taught him which marketing channels and timings yield the highest return, reducing wasted resources and risky mistakes.
The network and credibility earned from his first venture provided trust and momentum for his second, smoothing collaboration with individuals and the community. New talent was recruited more easily due to Monshipour's reputation and network.
From his current venture AIR, Monshipour also underscores the importance of rethinking traditional industry approaches, especially in legacy-heavy sectors such as real estate, by leveraging technology and AI to create scalable, customer-centric platforms. He stresses the importance of building a top-tier team early to accelerate execution and innovation, and he sees AI not as replacing agents but augmenting their roles for better service and efficiency.
In conclusion, Monshipour’s accumulated experience has shaped a transition from an exploratory, trial-and-error startup process to a disciplined, scalable, and network-enabled mode of entrepreneurship in complex, high-growth markets. However, it's important to note that while experience helps in second-time entrepreneurship, it's not about repeating what was done before; it's about reinventing the approach. The author's second venture was not easier than the first, but it was more about achieving the set goal with greater efficiency.
- Milad Monshipour, an experienced entrepreneur, highlights the significance of efficiency and focused execution in entrepreneurship, which helped him in his latest venture, AIR.
- His experiences from building two startups in high-growth environments have shown him the importance of aligning team capacity to maximize value for effective milestone achievement.
- Monshipour also stresses the importance of leveraging user feedback and iteration in product development to accelerate improvement cycles.
- He finds that marketing impact is key in selecting the right marketing channels and timings to optimize returns and avoid waste.
- The network and credibility built from his first venture smoothed collaborations and made it easier to recruit top talent for his second startup, AIR.
- Monshipour emphasizes the need for rethinking traditional industry approaches, especially in sectors like real estate, by utilizing technology and AI to create customer-centric, scalable platforms and augmenting human roles with AI for better service and efficiency in his career as an entrepreneur, focusing on small-business and personal-finance.
