All of us have heard about this common saying — “Jack of all trades and master of none”. Time has evolved and the saying could be “Jack of all trades and master of many”, then this would suit the definition of a Full-Stack Entrepreneur.
Full Stack is originally defined as “the entirety of a computer system or application, comprising both the front end and the back end”. This implies that full-stack developers should know frontend and backend programming, hardware, operating system, networks, databases, and the security of the system. Though conceptualized from the technology world, full-stack was generalized to be used in the world of business and entrepreneurship as well, and below is one definition chosen by the Fujn team:
A full-stack entrepreneur is someone who holds a complete set of skills required to conceptualize an idea, execute it and start a business.
This purports that a full-stack entrepreneur should ideally possess a full-blown kit of skills including:
Basic Microsoft Office and Photoshop skills
Digital Marketing knowledge
Social Media knowledge
Search Engine Optimization (SEO) and Social Media Optimization (SMO)
Intermediate HTML & CSS
Knowledge of Content Management System (CMS) and its platforms such as WordPress, Joomla, Drupal, Wix, etc.
Networking and communication skills
Team building and management skills
If you are skilled at juggling multiple functions in the process of building and scaling your startup, then it would be justified to proclaim you are a full-stack entrepreneur. This implies an entrepreneur who wears most of the hats, from conceiving an idea to product design and development to fundraising to engineering to operations to marketing and customer acquisition. While the full stack entrepreneurs possess the expertise and capability in a few domains, they are supposed to have some intermediate or basic knowledge in numerous other areas.
The domain category (Expert, Intermediate, and Novice), as well as breadth and depth of knowledge, vary from one entrepreneur to another. The full stack is rather a new breed of entrepreneurs, often related to serial startups and revenue stream creators. These are serial entrepreneurs who possess the skills to build successful companies, over and over again. Only a small percentage of entrepreneurs are full-stack and you need to be a constant learner and committed to strengthening your entrepreneurial attitude and skillset. That said, a full-stack entrepreneur owns the mindset, methodology, strategy, and techniques to develop and grow every aspect of a business venture including vision, product-market fit, digital ecosystem, and customer acquisition.
This full-stack concept has also become prevalent among successful companies as well as emerging startups. According to Chris Dixon, an American Investor, and Entrepreneur, “the old approach startups took was to sell or license their new technology to incumbents. The new, “full-stack” approach is to build a complete, end-to-end product or service that bypasses incumbents and other competitors”. These companies are autonomous and have self-control on the entire value chain, as they believe in selling the products/services directly to end customers. Some of the full-stack companies are Apple, Tesla, Ellevest, Bumble. This helps in many ways, while you are able to provide a valuable product/service, at the same time it helps to build a solid relationship with the end customer and deliver a much better experience. Full-stack startups care about every aspect of their product or service. So, they need to be good at many aspects including technology, hardware, design, consumer marketing, supply chain management, sales, partnerships, regulation, etc. They need to build an effective team and spearhead the marketing and growth initiatives, in line with the company’s overall vision and direction. In a nutshell, a successful full-stack entrepreneur is the one who revolutionizes the strategy, brings innovation in business, removes operational complexities by reducing intermediaries, and offers a unique second to none user experience to customers.