In this article, we are going to discuss how resourceful startups are changing the world on their terms and their creative ways.
The first question that needs to be answered here is: What is a Startup?
There are multiple definitions of a startup. Let’s start with Neil Blumenthal’s take on a startup, co-founder and co-CEO of Warby Parker “A startup is a company working to solve a problem where the solution is not obvious and success is not guaranteed.” According to Adora Cheung, CEO of Homejoy “startups are a state of mind,” her definition being more on the lines of an abstract sense. All of this set aside, Merriam Webster defines a startup as “the act or an instance of setting in operation or motion” or “a fledglingbusiness enterprise” i.e. an underdeveloped, inexperienced organization.
Nowadays, startups have been taking over the organizational trend. With more and more startups everywhere, it shows how the people especially the youth are highly ambitious and, inclined towards having their own business being an entrepreneur.
Startups around the world have gone from being small organizations to multinational companies. For every startup to be successful there is one thing that needs to be kept in mind, the individual or group of individuals should not be afraid to take risks and daring steps.
There are two ways to determine a startup’s success: (a) Big money i.e. monetary success gained from the business (b) the way business is able to change the consumer attitude and habit.
Right at the beginning of a startup, a proper business model with a defined target group to be followed should be kept in mind apart from the founder’s vision.
The different ways a startup is slowly changing the world by being resourceful are:
Being collaborative and accepting of everyone’s opinion. A group of people working on a single project will lead to more productive results than an individual doing the same. The very obvious reason being everyone thinks differently and taking into account each one’s opinion helps broaden the perspectives; thus more ideas and solutions. This also leads to more learning space amongst the employees.
There is nothing known as “excessive knowledge.” the more the employees learn the better it is for the startup. There should be a practice of constant learning amongst the employees.
Not being afraid to take a leap of faith. As mentioned earlier in the article, not being afraid to take a leap of faith i.e don’t ever be afraid to go that extra mile. Chances are most often it would lead to failure but you’d never know unless you take that step.
Success and failure are intertwined. Repeated failure must not stop one from taking that risk because you never know when luck favors you; in the end, it’s all a learning process.
Instagram is a good example of how initially when it started out there was no marketing budget. Their only focus was being effective and useful to its users, which led to the user’s community marketing them. Instagram in 2018 had risen to 100 million active users in the United States alone, with their target community being that of young teens and millennials.
A framework of problem it wants to adhere to- A startup when being formed always has the framework of the problem it wants to adhere to and how it wants to serve its target user community.
Airbnb was made with the intent to provide spaces to rent out to travelers (their most preferred target group) or anyone who wishes to rent a place. Its existence poses a threat to the hotel industry.
Proactive Public Relations- A successful startup should always try to practice proactive PR (public relations). If there is a discrepancy or scandal, it should be dealt with effective PR and not spin (lies or covering up the truth).
Storytellers- In today’s fast-paced world, no one has the time to slow down, take a minute and read or know about someone else’s story. Startups have always practiced the art of storytelling by being precise and thorough to convey their story in a lucid manner.
Thank god it’s Monday!- The last but definitely not the least important point to be noted for success is employee happiness and relations. Only when the employees receive benefits in return for their work and there is a proper organizational culture in place; will they be motivated enough to work better.
A fun workplace (so that the employee feels happy about Monday!) is also a very important factor in maintaining healthy employee relations.
After all, they say, “All work and no play makes Jack a dull boy!”
The founders of Google, Larry Page, and Sergey Brin wanted to make Google a fun workplace for its employees. They mostly have a flat organizational structure with fewer distinctions of managements; allowing more creative freedom and involvement of every employee in decision making.
Startups have thus given the people more employment opportunities, chances of learning and an environment to take risks, work according to one’s own gut feeling and have more creative freedom. Startups have also taught the people to not be afraid of taking higher risks for the better and long term well being of the organization; at the same time teaching the importance of feeling defeated and experiencing failures.
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