Understanding Startups Growth for Better Management
Premjith leads the Digital Marketing team at Aufait Technologies & Mindster
Once you begin your startup business
, then comes the toughest part! To sustain and grow to a leading organization by managing the same with some brilliant ideas. Many of the leading management gurus have written a lot about how to achieve the same.
Well, but still I believe this blog is worth it since the number of startups are only increasing year by year. So providing them a guiding light on how to complete that journey is the main intention behind this blog.
Focus on Your Organizations Core Values
Never ever compromise on your company’s core values. It's what projects your image in front of the world. Stick to the values and at the same time build upon them. The three questions that matters are:
- What does it do?
- Who does it do for?
- How is it done?
Make aware the staff inside your organization on how you want to work and build your empire!
The entire staff in the organization should feel that it's their own firm and not they are mere employees working for wages. Instill such core values among them. As a leader you should be able to motivate them, and provide timely appreciation and other benefits.
One can also ask for their feedback like what are the things that should be improved in your company. Thus build a strong and healthy relationship among your team.
Such actions will pave a strong foundation for your company’s growth.
How to maintain Operational Efficiency?
Maintaining operational efficiency becomes important once your company begins to grow beyond your imagination. As the individuals inside your organization increases it becomes very important to maintain the operational efficiency. It is the major factor that boosts your company’s achievement or success.
Adjust Your Growth Rate in accordance with the Revenue plan by hiring more staff if required!
As your organization requires more staff, the expenses of your company may increase. But stop worrying and plan things accordingly. Building proper financial and operational forecasts will help you to resolve the same.
Some metrics or tools will be definitely helping you in achieving the same. Such softwares
or tools will help you in measuring the efficiency of your startup business.
How to evolve Your Organizational Structure?
Once your startup business begins to grow or attain newer heights, it becomes really a tough situation to keep clarity in the organizational structure. In the beginning, the recruitment of new staff can be a little unorganized. But later on it should follow a well-defined strategy. An greater example for this would be, hiring new staff by providing them clear and precise job descriptions or the responsibilities they will need to look after once joined.
Stay focused on Organizational Clarity. Eliminate Redundancies.
They may arise chances of redundancies. Make sure that not everyone is cooking the broth! Remember, too many cooks spoil the soup. So give a clear description for the ones who are responsible for specific tasks.
Always stay closely with your execution team and guide them to adapt according to your organizational structure and difficulties arise in some specific jobs. Also, you can try empowering your Managers, so that their activeness will help you achieve greater results.
Keep your teams organized and binded. Give proper guidelines whenever necessary!
It is always advisable to maintain small teams which are stable. The ecommerce app
giant Amazon maintains this policy right from their beginning days. The major advantage of this strategy is that
communication becomes active and effective within such small teams!
Fig: Communication pathways increase as a square of team size.
Also, everyone in the group will be having an idea about each other’s strengths and capabilities and can work more efficiently as a stable team!
Moreover, it is also advisable to give your Managers the freedom to execute perfect strategies which might be best mostly. But remember, with your proper assessment! They may have certain wonderful ideas in making the journey forward much smoother. Always stay open hearted to new and creative ideas!
Summing up, what we can conclude is that getting involved in the daily operations of your company might be harmful once it reaches a certain height!
Focus on hiring a team of wonderful and skilled individuals, and believe in them. Provide proper guidance whenever required. Always to assess them on a timely manner and make sure that they are working fine.
Your role is similar to that of a Football coach. Stay out of the field. But be the leader in executing your plans. Because the growing phase is where one should focus on nurturing purpose and alignment without compromising on your company’s core values and ethics!
All the best folks!
If you have any more suggestions or interesting things to share regarding the topic, share below!
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