A fresh wave of entrepreneurs are going with a slightly different game plan from creating a business around what product they plan to sell. The new trend is believing that the key to long-term success stems from designing a company and not the product.
As reported in a recent Inc. Magazine article, the topic was featured at the first Northside Entrepreneurship Festival in Brooklyn. The panel included several company CEOs and founders, all of whom highlighted several key pieces of advice for creating a strong company.
A crystal-clear mission statement is needed to remind employees of why they want to be involved in the company in the first place. Whitney Hess, a principal consultant, said it’s important to ensure that every decision made is designed to support that basic concept or idea.
In addition to having that mission statement though, experts clarified that it’s necessary to be flexible and willing to steer away from the rules at times.
“Initial business plans and financial projections are almost always works of fiction,” said Deb Nelson, executive director of the Social Venture Network. “Make sure you’re flexible and creative enough to come up with plans B, C, and D.”
Building the right team is also key. Anthony Casalena, CEO of Squarespace said that when hiring individuals, make sure that the one interviewing them gives a fair picture of the demeanor of the company. From that, smaller companies should be sure that a functional dynamic isn’t shaken up when hiring a fresh candidate.
For example, newly hired employees would greatly benefit from custom presentation binders that are tailored personally to them and their role within the company. With printed tabs, each individual new hire will be able to easily navigate through orientation materials to read company policies and understand what is expected of them.
Whether a company is just starting out or is well-established, organization and a proper business design are vital to longevity. Investing in binding supplies and a laminating machine will help create polished, put-together material that can further finalize a business’ design