Being a leader of a startup or company in this day and age of fast evolving changes and disruptions is no easy task. Learning how to handle failure, making the most of your team; these are just some of the challenges that leaders have to deal with. Here are some tips that can help you guide and lead your startup on its way towards achieving success.
One characteristic that defines this new age of growth and opportunity is the shift towards the embracing of values and principles that reflect sustainability, representation, equality and higher ethical standards. Indeed, startups, corporations and organizations from all sectors and industries are expected to contribute and adhere to these values if they wish to remain relevant and stay competitive. Customers and clients are much more discerning and will carefully scrutinize a company or startup to determine whether they are living up to their espoused values and principles. Employees’ drives are also lit by purpose when the startup’s own internal values and goals are aligned with their own. As a leader, how are you preparing your startup to adapt and thrive in an environment that is increasingly marked by changing social norms and conditions? You can take a worthy social cause and take a stand on the issue, such as supporting the local community by contributing funds and manpower towards the building of a recreational center where young teenagers can play in a safe, crime-free environment. To ensure that your startup is on the right track, be certain to seek feedback from all invested parties and conduct reviews of your policies from time to time to stay relevant and up to date.
One of the toughest challenges that any leader may face in a startup is how to stand up again after facing failure. While there are no hard and fast rules, one of the first positive steps to take is to acknowledge and accept the failure, and then to let it go and move on. This step helps you to move forward with a fresh perspective and renewed sense of purpose, instead of languishing behind and playing the blame game. What is done is done, but you still have the power to choose how the future for your startup can turn out. Do not let failure define you or your startup; take it as a stepping stone for learning that propels your startup forward towards its eventual success. Time is of the essence as well. The sooner you are able to move on, the more time and energy you will save for the next course of action. As a leader, acceptance and letting go is one of the key steps to doing that.
Experienced leaders, whether they serve in corporations, companies, or brand new startups, understand that even though they might be at the pinnacle of the hierarchical command structure, they should not be caught up in the fallacy of viewing themselves as above others. Wise leaders know that success is a teamwork effort, not an individual one, and that it is a cumulative result of the combined effort of a group of people that came together through a shared goal, vision or purpose. Capable leaders understand that they work to bring out the best in their talents and hires, and to achieve that a culture that is based on support and service, rather than on centralized and authoritarian control, is crucial.
Leading a startup or company is no easy task. Still, by taking a stand on social issues, acknowledging and letting go of failures, and understanding the importance of bringing out the best of your people, your startup is one step closer towards achieving success.