The secret’s out– and it’s all yours to use in your personal endeavours! In an Inc. interview by Peter Cohan, he pulled two Harvard professors aside to talk about the success values and management styles of the world’s newest, richest man, Jeff Bezos.
While there can be no other Jeff Bezos, his business acumen and management are always something startup founders can imitate and apply in their respective startups.
Focus on the Little Details but Keep Your Eyes on the Prize
Startups often start with small teams that gradually grow. As early as now, hone your skill in identifying the common concerns of your team, while maintaining your eyes on the company mission and vision.
Find, or be someone who can focus on the employees and customers’ needs and issues as well as focus on the bigger goal. For starters, understand your employees’ initial concerns about their productivity. If you observe them to be working less due to their unhealthy work environment, don’t hesitate to upgrade their workplace with sit-and-stand desks and other amenities that can improve the workflow.
It is always beneficial to see the minor issues that could sink the ship, as well as stay in focus of the major goal that’s right ahead.
Constantly Improve Your Company Culture
Most startup founders design the company culture; in other instances, the employees agree on what the company culture should be like. Whichever applies to your startup does not matter; the most important thing about company cultures is that they should always to be open to change or upgrades.
As a startup grows from a 10-man team to a 1,000-employer complex, it is always important to change the company culture depending on the stage your company is in. Even if your startup has fully reached an established stage, it is still necessary to welcome new changes into the company culture to fight complacency and mediocrity, which is bound to settle in over time.
Your Marketing Strategies Should Correspond to Your Growth Stage
One of the most important lessons all startup founders should remember is that how you strategize to propel your startup to the top depends on the growth stage it is in. Naturally, going all out in terms of marketing and advertising for a small startup could put your budget, efforts, and other strategies on the line. The key phrase is “doing what’s appropriate.” Always consider the stage and the rate of your growth when designing a campaign to easily gauge the funds that should be put into your various campaigns.
Stick to One Common Purpose
As a company expands and grows, you and your team might lose sight of the focus. When companies grow too large to handle by one manager, naturally, they expand into different departments, team, and groups, which might have goals of their own.
Regardless of how large a company might grow, always bring the team back to your common goal. Daily, weekly, monthly, and even annual reminders help, and this can be carried out with yearly keynotes, seminars, and even yearly letters, like what Amazon chief, Jeff Bezos, has done since launching Amazon.
Sometimes, You Have to Let Go
It is never easy removing other leaders, partners, and co-founders from the team, but if there is a need to scale down or vacate certain positions in order to expand better, startup founders should possess a special kind of bravery that should allow them to welcome the fact that some individuals might have to go.
And when the opportunity does arrive, let go without fear or guilt. When in doubt if you are doing the right choice, always go back to your company mission and vision.