Source | LinkedIn : By Mohit Gundecha
I was in an introspection mode last week when the Economic Times (ET) asked me to analyze behaviors of professionals who get stressed during their start-up journeys and call it quits.
Last year, India romanticized start-ups like never before. And this year, there’s blood bath already. Having been through the start-up to the scale-up mode, and having seen successes & failures of several fellow entrepreneurs through last year, I have been very candid in my thoughts.
This introspection has lessons for everyone regardless of what size employer you are – how do you hire, what do you promise, how do you manage innovation and how do you check the cultural fitment of the potential employee!
My concluding thoughts in the article: Start-up or for that matter an innovation project in any organization is not a destination, it’s a journey! People who come in for a quick buck or fast glory get stressed. People idealize the huge IPOs and idolize the unicorns. But ironically, great products and great companies are built by teams who put in effort because they believed in something, not because they were chasing glory!
5 types of start-up love!
Last year, India romanticized startups like never before. This year is a bloodbath. The romanticism has attracted all types of love-struck (read startup-struck) people to Startup Wonderland. However, not every love story or every tale of romance has a happy ending. All relationships go through a bad patch, a roller-coaster ride, and startups are no different. In the frenetic world of startups, different character types quickly become evident.
We classify people that startups attract into five categories:
- The old-school romantics: They work in a startup for the love of creation, for the love of changing the world in small ways. These people will stick with the startup even if it hits rock-bottom, as long as they see the startup’s commitment. They have the maturity to take the lows in their stride, are high on emotional intelligence and stand by the commitment to the startup.
- The obsessed: They are irrationally passionate about the startup dream. They will never give up. They carry a secret fear of failure, desire to win and would want to make things work no matter what. They fuel a lot of energy and invisible force in their surroundings.
- The fly-by-night operators: They will woo people with their charm and flamboyance. But, in essence, they may not be capable of holding the fort in the long run. They are swayed by the hunky-dory part of startups, the glamour, the dreams of a quick win. But they lack perseverance and easily pass on the blame of failure. They will say that this startup is their only destination, their ultimate nirvana, but they could easily get distracted when they realise that all’s not going well.
- The me-mine-myself: They are obsessed with nothing but themselves and money. They join the startup looking for easy and quick wins (thanks to all the unicorn dreams everyone writes about) or they join it as a stop-gap. They are never ready for the longer haul.
- The ‘wish I hadn’t changed’ ones: They get highly uncomfortable with change. In the course of building a company, the product is likely to change to serve the needs of the ecosystem. One can’t get stuck in the past and seek the forgone. Alas, nobody told them to fall in love with the company, the intellect and the people around — and not the product.
Products will come and go based on the market feedback but the company and people are the only constants in a startup journey.