3 Ways Small Business Owners can Adopt a Start-Up Mentality
Start-up culture has taken the business world by storm, with stories of scrappy app developers and industry disrupting technologies tempting many into entrepreneurship who would have otherwise been content to pursue careers in the world of established corporations. That said, not every business is aiming to disrupt an industry or revolutionize the way people think about their products. Even in the case of a business that adheres to a more or less standard business model, there is room for taking some of the more successful aspects of start-up culture and applying them to business growth.
Embrace the ability of technology to streamline your business processes. Business owners can no longer afford to ignore the positive roles technology can play in their processes, since if they refuse to integrate tech, they will be giving their competitors an advantage that is almost certain to widen into a serious gap over time. You don’t have to be a computer genius to utilize new technology in running your business, in fact, business can take steps that embrace technology without needing to know a single line of code. In 2015, it seems that mobile payment technologies are going to become a much more prominent battleground for technology giants, meaning that business owners who are quick to adopt mobile payment may be able to benefit from a large amount of media hype generated by these companies as they duke it out to see whose solution will reign supreme.
Open up communications in order to bring the best ideas forward. The great thing about start-up companies is that they are usually places where single team embers will fill multiple roles, and are constantly engaging with each other and communicating so that the company is able to adapt and grow with everyone being more or less on the same page and working in concert. While your business might not be able to achieve an equivalent structure because of necessary tiers in organization, you can still strive to open up communications and empower employees to give feedback that can be used to point your growth in constructive directions. In some business environments, employees find it difficult to speak up for fear of being acted against by their superiors. If you feel like this might be the case in your business, you may wish to create the means for employees to submit anonymous feedback, or consider creating monthly surveys that can help you asses the movement of your business through anonymous, company-wide feedback.
Instill a sense of ownership in your employees. One of the ways that start-ups are able to outmaneuver large corporations is through the sheer application of will on the part of a small but highly dedicated staff working in efficient collaboration. Business owners can get into this mindset through advocating ownership of employee roles and a proactive stance towards responsibility. By identifying talent and promoting from within, offering a flexible life-style, or other tangible employee benefits, business owners are able to foster a deeper sense of belonging in their employees which in turn tends to make them more likely to strive to do the best they can.
Photo Credit to Steve Wilson on Flickr