3 key principles startups must honour

Making a startup successful is no easy matter. The failure rate is quite high: only four out of 10 startups still exist nine years after commencing their activities. So what exactly can startup leaders do to succeed?

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1) The organisation needs alignment: everyone needs to be on board

Everyone who is involved in the business must be aligned. That means you must sustain ongoing communication so that everyone understands what is in it for them and also how they can contribute. This reminder is brought to us by the business2community.com website.

  • There must be alignment of business objectives and activities.
  • Managers must be willing to strive for customer satisfaction.
  • Everything – objectives, purpose and scope – must be documented.

2) Accountability is vital

An employee may perceive success as completion of tasks assigned to them. In contrast to this, a manager will want to see how specific milestones are achieved.

You need to track the progress of work. The accountability of employees must be firmly established. It should be completely clear who is responsible for what – whether it be the execution of approved plans or ensuring continuous improvement.

The definition of success can evolve and change over time. That means that even if an original objective was not met, this does not automatically constitute failure.

3) Plan – otherwise you won’t see progress

When you spend some time thinking and reflecting, not everyone considers this to be a meaningful part of management. However, activity in itself does not always bring the desired progress.

In the case of a startup, inadequate planning translates into a lack of understanding of the complexity of the given business. This then leads easily to the acceptance of unrealistic goals, schedules and time frames, all of which means you are running the risk of failure.

-jk-

Article source business2community.com - open community for business professionals
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