Startups: New Year Resolutions
Live Cast in association with Intel India
Every time Earth finishes a lap of 940 million kilometers, people greet each other to celebrate it. They build a long list of resolutions to enjoy the next lap peacefully.
Some begin a year by staying fit, some want to be intellectual, while others aim to live happily. But, there are group of people who are passionate towards bringing a transformational change. Such groups are known as entrepreneurs.
These entrepreneurs are always thinking and have a proactive approach. They continuously accept challenges, solve real problems, wish to grow at a lightning speed and build things from scratch. They go on to inspire many like-minded individuals with similar vision and passion. But is passion enough for disruption?
“If passion drives you, let reason hold the reins” , inferred Benjamin Franklin.
So before making this New Year’s Resolution list, focus on being passionate, Following are two cents on the resolutions you can adopt.
Big Picture, Smaller Steps
To complete a picture, each pixel is equally important. Losing focus is easy when faced with obstacles on a daily basis. Pledge to celebrate every milestone, however small, to instil that sense of achievement. A good habit would be to acknowledge your team from time to time. Remind them regularly how their small steps- a line of code, an article edit, one phone call, one meeting, all coming together and creating an impact.
As Steve Jobs rightly put, “Innovation distinguishes between a leader and a follower.”
Probably the best resolution a startup should adopt. Keep experimenting, keep pivoting, keep innovating. What will set your company apart is novel thinking. Your idea is not a solution if it falls short on solving the problem.
Hence, ensure your startup evolves with customer feedback while maintaining its originality. This year, resolve to introduce unconventional methods, be prepared to walk the off-beat path, bring in refreshing ideas.
Own it, Live it.
Every successful venture is based on a foundation of individual ideators. Every word, every mail, every code should entail a sense of ownership. Instil these important core values in the problem solvers you hire. Leadership thrives in an environment of ownership. If it isn’t the case, motivate your think tanks to add it to their resolution list.
Data Driven Growth
It is not when you start, it is for you to start it right. Commit to reason out all your decisions via data. Regularly observe the synergy between your team’s output and the market. Recognize the next immediate logical steps, which will help drive growth. Analytics is a great assistant for instantaneous feedbacks and evaluation. Adhering to this, resolution will maximise the output while automating the processes, thus eliminating the excess of any efforts.
Hiring the right bunch
Understand the demands of your company. Know where, when and whom to invest in. Hiring is that thin line, the deciding factor, between success and mediocrity. Your team can be your most prized possession, so hire the right people for the role. Start fresh this year by understanding the problems faced by them. Recognizing and responding to their problems can go a long way in establishing the core value of loyalty. Before hiring, know what kind of team you would like to develop and recruit accordingly. Sometimes being the best is not enough, attitude matters.
An Entrepreneur is an individual chasing dreams to disrupt how the world works. In an attempt to scale quickly, losing out on the above factors is a common recurring issue. Competition may seem to work better and morale might be at an all-time low.
On days when your organisation feels the progress is at a standstill, send in this small reminder. The Earth is orbiting at 30 km/s around a galaxy moving at 250 km/s which is advancing in the universe at a rate of 600 km/s. Nobody is at a standstill, ever.
We all are moving somewhere. After all, everything is relative, isn’t it?