Startup culture: What startups need to know

We can be lazy, we can be crazy, and we can be a never mind people as well, but when it comes to careers, we all are very serious about it. It is what will pay for both our daily expenditures and our future. People choose what they like, what they are interested in, what they aim for, or what pays the best. It can be business, job, or some services. But no matter what, we always start as beginners who level up and gain experience.

Statistics:

According to statistics, about 27.6% of the population in India is self-employed. In 2020, 5% of them had been able to launch their own companies and become prosperous entrepreneurs. The percentage has increased to 14.4% in 2021, which is incredible.?

Startups: do you know its actual meaning?

No successful entrepreneur reaches the great heights he is at without climbing the ladder of success. They start from the beginning. And, that initial stage from which they initiate their journey of realizing their dreams, ideas, and innovations while solving real-life problems is what we see as "Startups".?

They provide you with an environment where you can deliver your ideas, have open communications, solve problems and work together as a team who supports you all the time. You start with nothing but an idea, the raw talents you have but then start inculcating every bit of whatever you need, step by step. From making a powerful team to welcoming ideas from everyone and working on them. Leadership, Teamwork, Business ethics, business relationship, Networking, and Acceptance are the different elements that need to be built into your company.??

There are roughly 57 thousand startups in India belonging to different domains like IT, health, agriculture, and education.?

Let's talk about startup culture:

Startup culture is a culture cultivated with shared thoughts, beliefs, and ideas. It shapes how the people of the company work, which is different from that of the corporate culture. It reflects the core principles and values of the individuals working in the startup.?

For the culture to cultivate prosperity, the elements should be happy, i.e. the members belonging to that culture should be happy, and free to share whatever thoughts and feedback they have. A healthy environment impacts the working and lives of the employees. The various factors to keep in mind for a startup to cultivate are:

• Innovation: You should come up with original, logical, and innovative solutions that address issues that exist in the world. It should not be the answer to figuring out its problem.
• Values: A culture revolves around specific values. Therefore, you should be aware of the ones your firm has established. The company's values outline how decisions are made, how each person is treated, how challenging situations are handled, and how those who commit wrongdoing are dealt with. As a result, you should exercise caution when choosing the principles your startup will follow.
• Communication: A strong community depends on open conversation and freedom of expression. Nobody should be afraid to express their thoughts. If a member fears keeping their points, your organization is lacking something that could cause major issues when providing services.
• Cross-cultural environment: It is desirable to have a team with members from various backgrounds to broaden their perspectives and ideals. Keep in mind that your greatest asset is people.
• Teamwork: everyone should be a priority. Remember, "each one of the members is unique and has different talents". But, for great outputs from the efforts and talents, each team member needs to collaborate, share ideas, and encourage and assist one another as they resolve issues.
• Resources and Technology: For startups, resources and technology are crucial. Without them, you'll never be able to develop your concepts, produce your goods, or expand your network and business. Sufficient resources and technology are essential for the expansion of a successful venture.
• Growth: Start-up plans should be designed in a way to scale up tremendously with the help of connections, resources, and the quality of your product/service.?
• Experimentation and clarity: Experimenting is acceptable, but only up to a point. Get a clear picture of what you want and what you want your startup to accomplish. Establish a clear objective.
• Profitability: Recognize your priorities. Is it the reason or the lack of money? But, everything you value must be beneficial to the company.?

Let's look at the example of one of the best start-up cultures: Shopify

Founded by Tobias Lütke and Scott Lake in 2004, after getting disappointed by the existing e-commerce platforms. Shopify provides online retailers with a platform involving different services like marketing, shipping, payment, delivery, customer engagement, SEO, etc. Their mission is to simplify commerce and make it better for everyone.

They employ people who seek hypergrowth, thrive in change, and can solve complex problems. They say, " If you prefer a prescriptive corporate structure and an in-person office environment, that’s not us. If you’re seeking hypergrowth, can solve complex problems, and can thrive on change (and a bit of chaos), you’ve found the right place. It’s time to find your role."

It revolves around low process and high trust. They want their employees to know what they are doing and continue to develop skills to keep up with the trends and pace within the company.?

Centricity does not exist. Instead, they favor giving their workers the freedom to work from any location. Shopify employs the DxD (digital by design) methodology.

They value their employees and their ideas.?Their main goal is to give their workers more power. They even started a rewards system to give them more leverage. Other than the salary or equity, they initiated their unicorn platform reward system where they allow their employees to appreciate their coworkers who go the extra mile by rewarding them. By the end of the month, these collected points add up to the bonus for them.?

Everyone in their culture has the freedom to express their thoughts. They can openly communicate. Their ideas are welcomed.

Conclusion:?

As a trend, startups are growing. In India, one in three people aspires to start their own business. And 1 in 5 people considers turning their ideas into profitable ventures. For any goal you have, a positive culture is essential. Any startup needs to operate in a spirited and upbeat environment to succeed. Clarify your thoughts. No matter the size of the team. The importance of teamwork, collaboration, ideas, work ethic, and open communication cannot be overstated. Build a culture that provides support and all of these things. You can achieve what you aim for with your startup.