{"id":4974,"date":"2020-07-09T10:38:13","date_gmt":"2020-07-09T07:38:13","guid":{"rendered":"https:\/\/tmc.ke\/staging\/?p=4974"},"modified":"2020-07-09T14:57:20","modified_gmt":"2020-07-09T11:57:20","slug":"how-startup-culture-can-save-your-business","status":"publish","type":"post","link":"https:\/\/tmc.ke\/staging\/how-startup-culture-can-save-your-business\/","title":{"rendered":"HOW STARTUP CULTURE CAN SAVE YOUR BUSINESS"},"content":{"rendered":"\n

Despite consistently hearing the term \u201cstartup\u201d, its definition eludes many however, its ideas and implications aren\u2019t as elusive. \u201cA startup is a company working to solve a problem where the solution is not obvious and success is not guaranteed,\u201d<\/em> says Neil Blumenthal, co-founder and co-CEO of Warby Parker[1]<\/a>. Whereas Wikipedia says: \u201cA\u00a0startup\u00a0or\u00a0start-up\u00a0is a company or project initiated by an\u00a0entrepreneur\u00a0to seek, effectively develop, and validate\u00a0a scalable business model. Startups refer to the new businesses that intend to grow large beyond the solo founder[2]<\/a>.\u201d<\/em> Whatever description you prefer, one thing is clear start-ups are built to solve problems creatively and effectively. Here\u2019s how startup culture can save your business:<\/p>\n\n\n\n

Forget the Silos and ditch the hierarchy <\/h3>\n\n\n\n

The term \u2018Silo\u2019 in corporate\nculture refers to the isolation between departments and\/or sections within an\norganisation. For instance, can your finance team answer any questions about\nyour marketing department? How about your HR department? Does your IT team regularly\ncommunicate outside their department or simply solve connectivity issues? <\/p>\n\n\n\n

 Silos are the product of a time when\ncommunication was slow and tedious and the corporate culture boded on obedience\nand loyalty. Why still have them when the world has moved on? One man jobs are\na myth and businesses are quickly catching up. Encourage all your employees to\nmingle and discuss ideas and potential solutions. Take it a step further and\nbuild inter-departmental R&D (Research and Development) teams and watch as\nyour company\u2019s blind spots are filled. As a result, your solutions and products\nwill be holistic and better adept for the market. <\/p>\n\n\n\n

Don\u2019t be afraid of investors<\/h3>\n\n\n\n

A common characteristic start-ups\nshare is the willingness to look beyond their resources to scale their ventures.\nTheir ability to continually procure funding is the reason they are so scalable.\nIn spite of this, they\u2019re excellent at stretching their budgets as funding isn\u2019t\nguaranteed. <\/p>\n\n\n\n

The key take away here is not\nto raise an absurd amount of money but to instead let go of the fear holding\nback your company\u2019s growth. Lose the belief that only you have the skill and\nwill to meaningfully contribute to your company. A common misconception is that\nletting in other parties will result in your removal, dismissal or loss of title\n\u2013 and yes it is a risk. However, you should trust your ability to judge character\nand choose investors who want the best for your business. Fear did not build Microsoft!\nIf you truly believe in your product or service, then you ought to help as many\npeople as you can and that means growing. <\/p>\n\n\n\n

Finally, the race for\nfunding and angel investors requires your business to be adaptable. i.e. built\nfor the 21st<\/sup> century. Having a board of advisors to report to keeps\nbusinesses relevant and growing \u2013 Startup culture is innovation. Consider the\nindustry you\u2019re in and the trends driving it. Are you racing to catch up or\nleading the pack?  What demographic makes\nup the majority of your  clients \u2013 how can\nyou expand beyond that audience?<\/p>\n\n\n\n

People then Profit <\/h3>\n\n\n\n

Startup culture is touted to be person-centric. It celebrates individuality and encourages creativity. In a start-up everybody is vital. Radical isn\u2019t it? Not really actually \u2013 startup culture has made immense strides in growing employee engagement and spiking job satisfaction. Startup\u2019s simply invest in people. Much like everything else, time has changed the landscape we\u2019re operating in (Hello COVID)<\/a><\/em>. Priorities have shifted for every working generation. Whereas financial stability and owning a home are important to older workers, social responsibility and environmental conservation are key concerns for the newly inducted workforce. Unsurprisingly consumer concerns have shifted as well. As a matter of fact, Accenture found that 52% of consumers choose brands that align with their values and stand for something bigger than products and services.<\/p>\n\n\n\n

Melding these priorities\nand unlocking contribution from all your staff is what will keep your business growing\n. Similarly, your staff\u2019s trust in your abilities and leadership is what we\u2019ll\nget you through this difficult period. Return to your roots and open your\noffice door once more. Really focus on your staff\u2019s biggest concerns and\nstressors, you won\u2019t solve all their problems but you\u2019ll solve some of them \u2013 creatively.\n<\/p>\n\n\n\n

Starting a business is not easy in any shape\nor form. Startup\u2019s are just the small fraction of businesses whose journey we\ncan follow. They go through the same hurdles, struggles and stresses as any other\nbusiness \u2013 they\u2019ve just revolutionised solutions. Startup culture is not fixed,\nit\u2019s dynamic and adaptable. Just as any business should be. Apply these simple\ntips and let us know how your operations, goals and results have shifted.
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WHY HUMAN RESOURCE IS THE ULTIMATE RESOURCE<\/a><\/blockquote>