Each year, the trends and cultures of the working society undergoes constant change. Unknowingly, its changes have always been fashioned to keep up with people’s needs and preferences. An emerging trend among these changes in business ventures is the choice of putting up a startup.
Basically, a startup is a business venture that literally starts from nothing. Mainly, it risks a high failing rate and a low ROI. There are a number of startups wherein owners were unable to sustain their business; making it a requirement to have a thorough business plan and a flexible yet solid strategy to survive.
Startups are a very attractive choice for millenials. Tagged as a “rebellious generation”, individuals who belong to this generation are actively rejecting traditional norms in both in their career choices and in the businesses that they wish to establish. They are no longer limiting themselves into the usual opportunities such as work involving the corporate world. Most of them take a fresher alternative path that is more liberated and creative in nature.
What is so unique about startups that people are choosing it over opportunities based in corporate settings?
Startups are booming because its owners are passionate about the products, services and core message that their startup business promotes. Another factor vital to the success of a startup business is its unique company culture. It is what makes a particular company standout among other startups.
Startup owners are the ones who develop and create the internal culture for their business. It is pivotal for the loyalty, motivation, efficiency, and positive attitude that employees or staff will develop and foster as they become part of the company. A startup’s culture can also be based on the niche where it belongs. Choosing a specific niche for a startup requires self-evaluation. Self-evaluation helps aspiring entrepreneurs determine which types of businesses would fit their personality and interests the best.
To help explore in more detail the distinctive flair that the culture of almost every startup possesses, below are 6 of the most common elements that one can find in a small business setup:
1. Ingrained Company Value
Company values are the standards of behavior implemented in the entire startup. Company values should be the stepping ladder towards attaining the startup’s core goal. Every member must know and understand it well for them to cope and get along well with fellow employees.
Company values should be a reflection of the main essence and identity that a startup embodies. The best way to present and embed a clear set of company values is by making employees and workers feel involved in the organizational management and the attainment of the startup’s goals. It gives workers the reason to enjoy and continue working. Employees who carry with them the core values of a startup will also influence other workmates or colleagues with a positive attitude.
With a properly integrated company culture, employees will not be lost with what they do even after the company’s growth and expansion.
2. Willful Productivity
Every startup begins with literally nothing and this is why it becomes twice more challenging to run one. It takes time for a startup to establish a fixed identity, routine, rules and regulations. Each and every employee has an impact on their co-workers’ work habits, as well as on the company’s environment, growth and failure. Since traditional rules are out of the question in a startup setting, it is often assumed that employees are free to work at their own pacing for as long as it does not affect the business negatively.
Increasing the team’s productivity is a struggle for corporate owners due to the sheer number of staff that needs to be managed and monitored. As such, encouraging other people to work harder and step up their game can be frustrating most of the time.
Problems in an employee’s performance can be traced back to the existing company culture and environment. There is a simple math in the company’s productivity; and it includes variable of happiness, fear, and productivity. It goes like this:
Happiness = increased productivity
If employees are happy in what they do and in their workplace, it increases individual productivity and eventually, the team’s total output. But fear can always ruin growth. If terror is what owners implement in the office, people will likely opt to leave. It also decreases productivity. A positive vibe and atmosphere in a startup can likewise foster collaboration and teamwork. If people feel that they belong to a group or that they are friends with their team members, they build connections with one another and easily communicate with each other. Startups have a relatively small team. Smaller group sizes make it less of a hassle for staff to speak for themselves and spark creativity and innovation. Small workspaces tend to foster a higher level of flexibility and involvement among staff members. Young team members and newbies will likely have the chance to share their ideas and suggestions while fresh points of view are encouraged.
Fear = decreased productivity
3. Enforced Flexibility
Flexibility is also a unique selling point in a startup business compared to the corporate world. Startups are less formal and rigid in terms of its internal operations. There is bigger room available for creativity, imagination, and originality. Since it is only a small group, members will share a closer bond and express their goals, ideas, and space with each other. While the workload may be doubled, teamwork is relatively practiced more readily and happily among employees.
Also an advantage of having a small staff to work with is that startups have the ability to adapt to different situations and circumstances thrown at them. Startup employees are taught to do work outside of their actual work description.
4. Open Communication and Teamwork
It is common in every business for multiple employees to work on one project. In order to generate favorable results for a specific project or goal, communication within the team must be transparent and unbounded. Otherwise, projects will not be able to push through smoothly without clear and open communication within the team.
Often times, a startup is likened to a family where everyone is affected by each other’s failures and achievements. Diversity is a selling point because it opens doors for more ideas and suggestions for the betterment of the products and even the company itself.
Startup employees are more comfortable expressing their ideas; a trait that fosters a healthier office environment. Transparency also becomes more apparent especially if a distinct nature of communication is developed within the company. This is an advantage that startups have over their big-time competitors.
5. Fearless Risk-taking
For business owners who opt to open a startup, the first thing they need to consider is their willingness to take risks. They must first be knowledgeable that a startup has a high risk of failing. As a venturer, once they make the decision to push through with their business plan, they must be ready to make sacrifices.
But it is not all the time that startups actually fail. A successful startup is usually backed by innovation and creativity comes in. Startup owners should be able to think of ways on how to handle different situations in a creative and practical way. Nevertheless, no businessman has ever succeeded without even trying to face the uncertainties that come with their company’s journey.
6. Unrivaled Passion
The most important among all the elements that segregate startups from established companies and corporate giants, is the exhibition of overflowing passion. Passion in a startup setup not only refers to that of the owners’, but also that of their employees. Before entering a startup, they must first love what they do and be committed to what their products and services have to offer. Aside from the salary, everyone must enjoy the experience of being in a startup business so much that they are willing to stay and do extra effort for the company to succeed.
The structure and culture of a startup is relatively different and unique. Its informal and compact environment can be used to the advantage of its owner and the staff employed under it.