Ask any startup company or grass roots business venturing out on their own about what they want and need to be successful in business, and you’ll get an pretty consistent mix of answers. I conducted my own unscientific poll amongst friends and colleagues who are knee deep like me in the midst of a startup enterprise. I found 8 key concepts at forefront of theses brave business owners and entrepreneurs. The answers from my peers didn’t surprise me. What did was that these concepts are extremely important for a successful businesses and yet are also often the reason that businesses don’t succeed.
- Human Capital. As in recruiting, hiring, and talent management. Working for a startup company takes passion, creativity, and a whole lot of stubborn. Not every employee or prospective candidate is an idea fit for a grass roots organization.
- Help of the Expert & Professional Variety. And by professional I mean legal, accounting, marketing, and human resource expertise. Sometimes we seek out these professionals proactively and other times after the fact.
- Mentors. An extremely important part of growing and learning as a business leader is by having relationships with others who have been there and done that. Establishing a mentor for yourself is extremely important along with the members within your organization. Help them develop and build mentor relationships outside of your organization ensuring that your ideas don’t go stale.
- Planning. Success doesn’t happen overnight. Countless sleepless hours are spent planning, organization, and contemplating your business strategy. Having a clear message and vision and stair-stepped goals are essential for any company big or small.
- Publicity, Business Buzz. Everyone starts somewhere and building a brand and developing credibility lends itself to new clients, partnerships, and just good business. A startup atmosphere thrives on caffeine, creativity, and often times a very shoestring budget.
- Networking. Building relationships and growing your business happens outside of the office and in the community. Endless chamber events, networking luncheons, phone calls, and endless business cards are essentially to growing your business and getting the word out.
- Money. Unless we are either independently wealthy or are enjoying the beach bum lifestyle in Hawaii, it takes money to grow and establish a business. Countless business plans, business pitches, and meetings with potential investors help us secure the funding we need to push our startup to the next level.
- Training. While establishing a mentor is important so is training within your small organization. Staying fresh and connected within your industry and company are essential to the future success of your business. Often times things like training and development are pushed to the wayside in favor of other business activities.
Do you agree? What do you see as the order of importance for key concepts such as these or do you disagree with me complete? Leave a comment. We’ll be diving into these and other key concepts over the next several weeks. How does human resources and its profession play into the successful launch and growth of a startup?
For more information about TeamBuild based on these 8 concepts, visit Leading with Team Building which includes a powerpoint and handouts to get your team and organization jump started.
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Photo Credit Middle Zone Musings.