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A goal without a plan is just a wish, says Suneera Madhani, that's why you need a roadmap. The Worth AI co-founder is no stranger to drawing up a winning plan. Her first business, Stax, a payment processing company, made Inc.'s list of fastest-growing businesses for five straight years and reached unicorn status in 2022. After exiting and a few years of stealth development, Madhani is back with an AI-powered credit underwriting and risk management platform for businesses called Worth AI. Recently, Madhani sat down with Aisha Bowe, founder and CEO of STEMboard and LINGO to discuss how she charts a company's course toward financial success.
When planning your roadmap, think in threes, says Madhani. She finds it helps to think about where the company should be in three years, and what it will take to get there. "Everybody else is helping me focus on the today," she says. But a CEO needs to think three years ahead. Break your roadmap down further into at least three distinct plans you'll need, product, hiring and financial, she says. Madhani suggests starting with your product roadmap and focusing on getting the idea from your head to paper, she says. Then, you can begin to develop that product.
At the same time, you need to execute your hiring roadmap. For Worth, says Madhani, the company needed to hire a lot of developers, engineers and product teams to get the product off the ground and go to market. This will vary based on the business, she says. But no matter what, you need to track your hiring plan alongside your other roadmaps. "You cannot build a roadmap by yourself," says Madhani. "You do not want to build a roadmap by yourself."
While you don't want to rely on yourself exclusively, you must be ready to make tough decisions. No matter how much research you put in, the details you focus on, and the time and energy you spend, things change. You and your roadmap will have to change with them, says Madhani. "There is no perfect playbook," she says. But founders are in the best position to make changes when things don't go according to plan. "You built the product. You have the vision for it. You are the most aligned with your customer," says Madhani. "Listen to your gut."
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Worth AI Co-Founder Suneera Madhani on How to Build a Successful Company Roadmap
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17.04.2024
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A goal without a plan is just a wish, says Suneera Madhani, that's why you need a roadmap. The Worth AI co-founder is no stranger to drawing up a winning plan. Her........
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