One Should Know What Does a Startup Needs
We have a list of things that should be noted for a startup, some characteristics that can be very useful for a startup company.
1. No Jerks Rule
Like every successful company you should adopt the “No Jerk Rule” policy. There is a list of companies who have applied this policy and are very successful. According to business Kings Berkshire Hathaway, this policy should be adopted to build a team of Stars.
2. First Get Knowledge Of Competitors
Most of the Startups have less knowledge about the market and what is going on in it. Before going on any track one needs to gain some knowledge about the market and the competitors to know the strategies, the keywords etc.
3. Build A Good Team By Giving Importance To Diversity
In a company diversity factor plays a vital role. With a task force including different race, culture and gender will give you different ideas for your work. Specially hire female task force from the beginning so that such an environment is already created in the company from the start.
4. Go For Quantity In The Start
For a startup quantity should be the primary goal. You won’t have much time and resources for excellent productivity. So it is good for a startup to make name with quantity not quality. Later after a specific period of time when the company is going in a good direction, then start to focus on the quality.
5. Launch Will Slip
This should be kept in mind as a startup that launching dates will slip. It can be a delay in anything so just keep this in mind from the very start.
6. Fire Employees Sooner
You are a startup so you will make mistakes in hiring people. Do not feel guilty about it just fire the wrong person. The sooner you fire him/her the better it will be for the company. Sometimes you will find an employee very good and productive, but there is always a chance that in start you hire a wrong person who is not fit for the job. So the easy way is to just fire the employee soon.
7. Make A Culture But Don’t Dominate It
Taking your employees to a cafe or bringing them some cookies etc is a good motivational thing but it should not become something that over takes the working time of your employee. In the starting month or 2 it is okay to do such things but don’t make it a permanent thing.
8. Do Your SWOT Analysis
It is important to do a SWOT analysis of yourself. This will identify the gaps in your strategies which will help you to fill in those gaps. SWOT analysis is an old method but it is the best method to know your Strength, Weakness, Opportunities, and Threats. The results should be shown to the entire team so that they also know.
9. Wok On Smaller Scale When Working Outside
In the early stages you need to work with smaller names. Do not hire big names in your startup. Hire small expert firms and work with principals.
10. You Must Test Everything
Run a test on everything as it is your startup but do not tell anyone that you are testing or experimenting it. It doesn’t sound good. You will have to change things in start according to the feedback.