Here at Ascend we traditionally blog about Health IT, Agile, and SCRUM. However, we felt that since we are still in the startup phase and growing, we could share some of our insights. Everyday many new startups emerge in technology, e-commerce, engineering, etc. As a company who has gone through some growing pains, we hope that our advice and guidance can be useful to companies of all sizes and industries.
What do Startups do Differently?
The importance of the word “startup” is that eventually it either transitions into a failed business or a stable enterprise. When they transition into a successful organization, today’s startups are revolutionizing the leadership and communication inside organizations of any size, industry or profitability. As a leader, you must trust your employees and trust yourself that you have communicated your mission and company values clearly, so that there is no disconnect.
Why Does Culture Matter?
The millennial generation (age 18-34) is now the largest workforce in the United States at 53.5 million. Further, hiring managers claim that 58% of millennials will leave their job within 3 years. What does this tell us? That our current method of creating a satisfactory company culture has failed. Startups offer the perfect opportunity to test oneself and work on new ideas and projects, inspiring individuals to create and innovate amongst their peers.
Founders-What exactly do they do?
Good founders have an idea; great founders have an idea and passion. Founder(s) articulate the company’s vision and values and to establish a solid foundation on which the company can grow. Without a solid foundation on which to build and innovate, an idea is only worth the paper it is written on.
The Board of Advisors
The Board of Advisors should be those who have little to no financial interest in the company, rather they serve to help guide the vision of the founder(s). The board should act as an independent advising group and advise on things such as management, accounting, finances, and development of the vision.
Conclusion
We’ve outlined multiple factors that have been influential in the success of our own startup as well as observations from the ever-changing startup environment. Foundational leadership, the concept of culture and the role of your board all play a critical role in your new business venture. We will discuss each topic in detail over the coming months, starting with “What Startups do Differently.”
Co-Authored by Mike Brown & Ben Dickshinski