The benefits of a startup mindset
The pandemic, the disruptor with its superstorm of uncertainty, complexity, volatility, and ambiguity pushed so many of us to the brink. Now that spring is here, I’ve started to reflect on what I’ve learned and the mindset that might help leaders focus on the road ahead as we contemplate strategy and the future of work. And it’s something I help leaders and teams with every single day, even at a large, established company. Enter: the startup mindset. Here’s what I mean.
Embrace a bias to action. Fear of making things perfect often slows down a team from taking smart risks and engaging at the speed of change. It’s important to be clear on the minimum viable product. Startups care about getting the product or service in their customers’ hands as soon as possible, and taking the regular feedback and improving the product. If you are launching a new feature, what are the most essential pieces of functionality to get quickly released, so that you can start getting immediate value from it? Additionally, leaders should not hold work to a “perfect” standard. Instead, encourage teams to try small experiments, make small, fast updates, and focus on learning and improving over time.
What makes it challenging to embrace a bias for action and how can you overcome those barriers?
How might you talk about learning and progress when giving feedback?
Ground your vision in customer obsession. The best way to make sure your vision, roadmap and impact will meet your growth goals is to stay close and connected to what your customers need. Startups want to build and grow, and with the revenues is a close connection to the customers they want to win and retain. Find a way to share early, and have a deep understanding of their likes, frustrations, and jobs to be done (that your service or product will address.) Spend time listening to feedback, digging into data, and persistently thinking about ways to keep your customer at the heart of your work, no matter how small. Not only will this inspire your teams because they develop a deep appreciation for the person you’re serving, but it makes the work reach a level of specificity that gives you an edge.
How can you get a deeper understanding of your customers’ needs?
What ideas does your team have to stay close to customers?
What might you try to ensure the customer is at the center of your vision?
Trust in the Team. I believe in the big benefits of self-organizing teams— and you should aspire to let your team, who is closer to the action, make the best decisions to drive great results. Startups often hire multifaceted employees who are expected to wear many hats and adapt and learn based on the limited resources. And along with that, you should nurture trust and safety on your teams, so that people can speak up when they are running into challenges or need help.
How can you build in time up front to brainstorm with the team “the what and the why” of a piece of work?
How can you support the team equally sharing their ideas and concerns as a regular way of working?
It feels like it’s time for all of us to think and dream big and to focus our attention on growth. These days I am engaging with executives and teams to embrace entrepreneurial (e.g. startup) mindset and practices. I hope you are ready to build something big, have an outsized impact and help the team have a blast as they learn and collaborate together. Even at a big company, these 3 principles make a huge impact on our leadership and teams.
