| Grocery startup Lula Convenience's co-founder and CEO Adit Gupta stressed the importance of pivoting quickly and focussing on the original mission, not letting the firm be distracted by too many products or features. Gupta adds that these traits are critical in building resilient
startups, especially in current times where funding is hard to come by. - Gupta,
who previously co-founded VyB Technologies, says, "The worst thing I
did with my last company was never pivot at all, just keep building for
years and years."
- Unlike VyB, his new venture Lula pivoted many times in order to come closer to finding a product-market fit.
- Lula
transitioned from a startup that assisted mom-and-pop convenience
stores in expanding their consumer reach via delivery networks to a
business-in-a-box platform.
- Comcast
Ventures' managing partner Allison Goldberg agreed with Gupta's
hypotheses, adding that firms should also avoid trends and technologies
if it is not suited to their original purpose.
- Goldberg added, "Don't say you're AI if you're not," highlighting the number of startups incorporating AI into their platforms.
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