Building Start-ups

Building the bridge that gets completed

To succeed, an entrepreneur needs more than an innovative idea or product. Whether one succeeds as an entrepreneur would also depend upon how one organizes his/ her own team?

What has consistently been found successful is the right attitude, people, and actions make a bigger contribution than a creative idea to the success of these endeavours. The role of passion, the importance of management talent, and the right partner for the capital support can be a key differentiator to success.  Second, bringing innovative ideas to market requires a series of actions, from the development, market tests, securing patents to moving a high-quality product to market with quickly. This may include relevant partnering at every stage.

How much is the idea my own? There is a thin line between holding on the conviction while listening to the feedback and getting the feel of the market. The objective in either case is to make a success of the idea or the reformed idea. If the idea is radical, does it attract people or the investors. People need to make it happen. If ideas are too much radical , attracting investors becomes difficult and the expectations are very high returns.

There is a difference in the behaviour between large companies and small companies, which tend to develop innovative technologies differently. The smaller companies tend to bring the innovation faster into the market compared to the bigger companies, since they depend upon the existing product lines and play a cautious note while embarking on the new innovation.

Management Teams
Good management teams are extremely important for the success. There are fundamental to practical execution. It may help to have a expert  management teams supported by the innovators , rather than expert innovation team supported by mediocre management. Team behaviour, consensus, mutual respect are important aspects in the success.

Team Size

Does size of founding team matter. Yes it does. As is working with any good team play, participation is a must as also is having the complementary skills. The decision making is important as many of the processes are informal and yet need to be researched adequately in short time. At times its intuition based on the experience and backed by effective analysis among the founding team compared to vast researched data and longer cycles of decision making. Understanding what works is critical. Make it work

Passionate Behaviour
Shared ownership helps as also the intent with what one joins to build a company. It is definitely a matter of identifying who and then what. Get the right people on board. Hence one of the important determinants of success in start-up companies is the passionate behaviour of the founders. People who have high passion will do whatever it takes to overcome those barriers.

Shared vision is more difficult to achieve than said, although there is a need to agree on the values of the company. The team must reflect the same in wholeness. It helps build the credibility , the brand and provides the adequate reason for common objectives.

Common goal should rule over the individual differences. The behaviour may get  magnified in the inter-culture environment. Mutual respect as individual is important above the difference that may exist due to background and culture. Common goals are more important than the differences to be counted and identified. Enjoy the difference and grow with them and continue to fuel the passion that brought them together

Governance and Transparency
An item which is many times not considered  but is important is the governance. From the need to execute regulations and provide for the relevant documentation . It may not provide the strategic edge but become critical in the long term sustenance and the credibility building. Similarly transparency helps in providing comfort internally among founders and employees and externally  with the stake holder including the relevant reporting. This not necessarily mandated by the regulations but based on the need a specific stake holder may have and appreciate.

Investment Timing
Timely planning and execution of investment is important from building the assets, having the resources when required and ensuring the flow of activities that are important for the success of the budding new enterprise. Managing the need to balance expense and the capital inflows and cash balance may further guide the timings.

Capital Flow
Business plan and the right use of funds dictate the flow of capital not only in the initial stages but through the development of the company . The key risk areas continue to be hitting the revenue stream and realizing the payment from what is payable. Each provide their scope in going into details and working them out for the long term success.

Going ahead with the right combination of the team and the partner is extremely important for the success and as is also driving the strategic intent of the enterprise in the all the activities that surround it. Working in these lines helps achieving the objectives that the enterprise came together for anyway.

Leadership Programmes