Canada vs. USA Start-Up Pathways

 Jeff Bezos is the quintessential rocket ship. In 1994, he was a senior vice president at a New York financial firm researching the Internet. He realized he wanted to be a part of the movement. However, rather than diving into his passion, Bezos took a methodical approach. First, he conducted a systematic analysis of business activities that could benefit from the Web. He concluded that he should act as a middleman between manufacturers and customers, selling almost everything all over the world. Since starting with everything was impractical, he created a list of twenty possible categories. He selected books. Then he approached the boss. 

With that in mind, transformers should watch out for the following red flags

Make sure your business model is equally compelling as your mission. Transformers want to show that people in traditional fields can still innovate. However, innovation isn't enough. You'll also need a solid strategy to keep your progress going over time.

Get real. Transformers occasionally propose changes, but they are primarily cosmetic. Prepare to defend your innovations as worth the costs and risks, and work with your team to counter critics. Don't avoid data. Entrepreneurs who prioritize social goals frequently downplay finances and ignore pesky data. While your sense of purpose is important, strive to balance it with objective analysis. It's difficult to change the world when your numbers don't add up. Rocketships: Jeff Bezos. Bill Gates. Fred Smith. Michael Dell. Michael Bloomberg. Rocketship entrepreneurs are analytical thinkers who use metrics to accelerate growth and change. They are tinkerers and fixers who strive for efficiency in all aspects of their endeavors, making them cheaper, faster, and better. Rocketship pilots frequently have a background in mathematics, science, systems, or management, and they use their analytical skills to establish clear goals and formulas for success. They are the rocket scientists of the entrepreneurial world. In an increasingly data-driven world, they are uniquely positioned to thrive. However, their obsession with numbers comes with obvious risks.

The Endeavor entrepreneurs Nicolás Loaiza and Gigliola Aycardi enjoy crunching numbers.

As MBA students in Bogotá, Colombia, the sports-loving friends lamented the country's lack of high-quality gyms. They conducted a market analysis of Colombia's personal fitness industry and concluded that a private gym providing individual exercise regimens would have enormous potential. They founded Bodytech, which positions itself as a medical sports center rather than a gym. Bodytech's highly qualified medical experts provided personalized health services, educating members on how to avoid chronic illnesses and identify personal exercise goals. They set a goal of 1,000 new members in six months; in the first thirty days, they signed up eighteen hundred. According to surveys, half of Bodytech's members did not exercise regularly prior to joining. Nicolás and Gigliola, encouraged by their success, rapidly expanded Bodytech. Over the next decade, they established twenty-six branches in six Colombian cities and enrolled fifty thousand people. They merged with another chain, and their membership increased by 34%. They conducted a thorough analysis of neighboring countries and concluded that the gym penetration rate in Latin America was a fraction of that of North America. Then Nicolás and Gigliola set out to raise enough capital to meet their ambitious expansion goals. By 2012, Bodytech had established itself as South America's largest gym chain.

When I met the founders, I was impressed by their strengths. They are analytical, data-driven, and laser-focused on growth. 

They are doers—extremely efficient and effective. They set milestones, meet them, and then calculate new ones. They exemplify drive and success. However, they also revealed some flaws. They came across as cocky. They're quick to speak, have an answer for everything, and bombard skeptics with statistics. We weren't certain they'd listen. Also, they move so quickly that they may overlook their employees' needs. Were they all in their heads? we wondered. Where is the heart? According to my classification, Gigliola and Nicolás are rocketships. They reflect the current vogue in business for metrics, but they raise concerns about the tendency to prioritize numbers over everything else. Rocketships should remember these flags: "You know, I'm going to do this crazy thing," he told me. "I'm going to start this company selling books online." The manager responded: "This actually sounds like a really good idea to me, but it sounds like it would be a better idea for somebody who didn't already have a good job."