My Ideal Startup
Well last Sunday I again happened to be at the Open Coffee Club of Bangalore. A whole lot of interesting ideas on marketing and all were tossed up. The big question that's always in my mind was answered during this session. Yes what is my ideal startup.
I think what would make up my ideal startup would be some ideas taken from Hari and Venkat (Venkat has a startup named OutSmart, so guys be ready to expect something). Here are the something's a startup should do.
- Be positive about your idea and more importantly show it.
- Have a long term plan, something like 2 years. Be ready and plan up to flourish in those two years, not just survive. This should be planned before you get your hands wet.
- Waiting for VC may not be the best bet. Keep ground realities in check.
- More often than not the power of idea is so strong that one can loose track of customer expectations. Be firmly stitched to that ground.
- Make employees feel that they are adding value to their resume. A startup may fail but their knowledge will make them sail ahead.
- Be ready to refuse people rather than just recruit for the sake of it. Get only the best. A 1::500 recruit to resume ratio is not unimaginative.
- Keep all employees aware of the best things happening. It drives the spirit to work in them.
- Drive the team spirit by making sure that people sit in a group so that team spirit thrives.
- Money or any kind of benefit cannot stop an employee from quitting your company. Bonds etc only bring a bad name to the company. A startup for sure cannot afford it. Instead if the employee may come back if he finds the relationship and environment worth the value. Even if he does not he will brag about his past company. This sure will bring goodwill to you and perhaps some good employees too.
I don't know about others but I sure will follow this for my startup if I ever start.