It can seem like almost everyone is working on a startup these days, but relatively few of them ever actually make much progress. There are many reasons for that, of course, but some common features stand out. As an article at bizblog.cosmobc.com/ puts it, many startups fail to take advantage of the very things that make them different from established businesses.
One common reason for failure, for instance, is that a startup might be saddled with a lack of vision. Starting a new company from scratch is an opportunity to shape it in the most fundamental of ways, but some founders fail to appreciate this. Oftentimes, it will be an excessive focus on a product or service that leads to a lack of this strategic, big-picture thinking. Every startup founder should therefore take some time to step back and look for ways to guide the new company at a higher level.
An effective way of doing so, in many cases, is to seek inspiration from far larger companies. This is not to say that a startup should often settle, early on, for the kind of slow-moving character typical of many larger companies that have been around for decades. It does mean, though, that small, young companies can often benefit from looking at how the success stories became what they are. Using this inspiration to go beyond the product-centered myopia that might otherwise result can add a new dimension to the character of a startup.
Another important advantage that some startups fail to make use of is the ability to move more quickly than others. A company with only a few employees and relatively little in the way of commitments will be able to pivot with far more agility than larger competitors. Startups that are attuned to the possibilities around them and prepared to do whatever it takes to make use of them tend to do the best. Founders who recognize this from the start tend to put their companies in position for success, as a result. While not every startup will ever need to make use of this option, simply being aware of it at all times often proves to be valuable in its own right.
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