“I don’t know a startup that hasn’t been through tough times” – Vinod Khosla, American-businessman
Startup – a buzzing platform which is disrupting the world with its phenomenal knacks is also extending its hand and contributing towards the upliftment of the Indian economy. It is the beginning of an exciting journey with a dash of nervousness. However, is this journey easy? No, not at all! Establishing a startup requires right execution of plans. It is a pathway where one has to cover the fundamental grounds and be at the forefront of creativity and innovation.
Cementing the cornerstones of an organization in a tech-driven world is not an easy job. Guts to face challenges and capabilities to convert those challenges into opportunities can surely be a step towards launching the dream startup. Besides, embracing the technology and adapting to changes would form a framework enough to withstand the complexities of the marketplace.
Today, the emerging players are moving beyond valuations and creating real businesses with their startup initiatives. Being distinctive is not the only aspect which can help founders to create a niche in their respective sectors, the startup square demands more. Here are some tactics to revolutionize the startup world and create a one-of-its-kind ripple in the business waters.
Support the Team
The phrase ‘Boss is Always Right’ could be changed into ‘Being a Mentor to the Team,’ as encouraging employees would help generate profitable outcomes for sure. Successful enterprises are formed by effective execution, and this large-scale execution never happens single-handedly. Team is the biggest asset to brainstorm with, when bootstrapping – starting from scratch. One should ‘elect’ decisions rather than select, take unanimous decisions considering the whole team.
The Founder is the one who takes an entire team along with his/her vision. Same works the other way round! Be a leader who cherishes brainstorm ideas and craziest plans in the workplace. Be patient with the work-force, as launching a startup involves trials and errors. In short, the idea is to maintain a fruitful and constructive relationship with the employees to be on the same page.
Cheers to Small Wins
Startup demands agility for the longer run, but don’t miss out the smaller accomplishments – celebrating small wins play a significant role in the growth of an organization. Breaking large operations into small milestones and striving to accomplish them would be useful in managing all resources, including finances and define the goal that one is chasing while starting up. Trivial achievements would set the bar high and also implement a step-wise approach across the employees, ensuring the work in tandem. An Italian proverb ‘drop by drop you can break the rock’ truly defines that success never happens overnight! One has to face a successive wave of challenges to taste the success cuisine.
Focus on the Next
Creating a timeline for the listed goals would help a lot. It would help focusing on the future footsteps at its best. Running a startup in a space outlined by the standards of demand and supply comes with a dare, where each step counts. Steps taken in the past and present, and steps that would be considered in the future. Focusing on the next would help instill actions that route through the tunnel of goals that one digs. Making ‘Learning from the past’ a habit would create a difference and surely empower upcoming creativities. Form a bucket list of the initial ideas, design choices, and product features to be worked on after a ‘win’ and outshine own benchmark to create a ‘win-win’ situation for the forthcoming. This would help the founder of a company to decode what the customers want, what the employees gain, and what the investors earn.
Giving Back to the Society
Earning profits is necessary for the overall development of a startup, as it takes years of sheer determination and unified efforts to place the keystones for its establishment. However, aiming to give back to the society would help startup achieve a distinct and diversified repute in the competitive market. ‘Committed to make it better for all’ can create a one-of-its-kind history. Also, opining employees about the social responsibilities would keep the company as well as the customers on the same table.
Backing out is Never an Option
“Failure will never overtake me if my determination to succeed is strong enough” – Og Mandino, American-author.
One has rightly said that ‘failures are the stepping stones to success. Failures create a platform where one can masters the art of never losing hope. For a player, getting back to the field after losing is not an easy task, but, that’s what makes him/her flexible to surpass the future challenges. Moreover, backing out is never an option when one has the determination to take risks and see beyond the conventional cosmos of ideas.
With each passing the day, the technology advancements are taking pace and unlocking doors to numerous opportunities for the emerging players. As 2018 was a challenging as well as an opportunistic year for the startups, the year 2019 would be the year which would create possibilities to prosper like never before.
– Rahul Niraj
Startup Lessons Every Founder Should Know
