Are big businesses intimidating your fledgeling company? These 7 tips will help your startup soar with the eagles!
1. Big companies move slowly
The bigger an organization, the slower it is. There are more tiers, people and decisions to be made. And with every decision, there is a lot of reconsideration and rethinking. So, each move from a bigger company is the result of several people working over it for a long time. A startup has the relative ease of deciding quickly: lesser number of people, lesser number of tiers.
So, that’s a competitive advantage start-ups have.
2. Communication
Typically, in a big organization, colleagues are from different time zones, hierarchies, opinions and backgrounds. A change in let’s say, back office systems can take years to be done completely. A start-up, on the other hand can bring about any change quickly and effectively.
3. Scalability is sometimes, a double edged sword
Every start-up wants to “scale”. Adding zeroes to the turnover figures is a recurring dream. Interestingly, the price of scaling up and up and up is rigidity. When production runs to millions and billions, your product cannot be changed with a month’s notice. A start-up has it differently.
4. Hubris
Several huge corporations die unceremoniously because they are unwilling to change their business or product, according to the times. Kodak was a force to reckon with in the 1990s camera scene. Today, it’s nowhere. Why? Rivals started making digital cameras when Kodak was trying to enter the digital arena half-heartedly. Too little, too late. It is very important to know what your peers do and how you keep up with them, however small in competition they are. You never know when a start-up can wipe out a big company! Start-ups can learn from peers and start afresh with several ideas.
5. Start-ups and huge corporations can co-exist
The savvy start-up entrepreneur knows that a major corporation might be a potential business ally. If the start-up does well, the bigger guy can up the game and acquire, merge or distribute. There needn’t be any enmity.
6. Hiring
Hiring for a start-up is different. A whizkid straight out of school 9or a drop out) fits the bill. But a corporation has it all different. Start-ups are also willing to try out freelancers and part timers who work from different continents. The skill set is all that matters.
7. Hierarchy
Whatever the written rule in larger corporations is, you will find that the organization is not flat. A colleague escalates issues. There is a complex structure of reportees and managers. It leaves room for issues to implode or explode. Start-ups ideally have flat hierarchy with founder and employee sharing cubicle space.
