Tuesday, December 06, 2005

What Does It Take to Succeed
A thought that strikes me often is: What is it that distinguishes winners from losers, what does it take to succeed with a start-up company. We have many examples around us of start-ups that clicked and those that did not. Though there are a lot of variables at play in each of these cases, a few things that go to make the difference are:
Passion: Nothing can beat passion in making things happen. There are two ways to approach any challenge: One is to say that it is very difficult and give reasons on why it is so, this typically happens when the passion is missing. The other is to be so passionate that everything seems possible.

Management team and their dynamics: The management team makes a world of difference. The direction, vision, urgency, attitude displayed by the management team is what ultimately drives the company and its people to drive and excel.

Working Smart: There are two ways of working: The Slog approach and the Smart approach. The Slog approach involves longer hours, lower productivity, and higher stress. The Smart approach involves skill based work allocation, driving measures to improve efficiency across the organization and avoiding duplication of efforts (More on this in my next posting). The advantage of the Smart approach is a workforce that is motivated, more efficient, and relaxed. Basically make process improvements a company wide practice.

Investments: Another important factor is to have the vision to make investments in resources in people, infrastructure, and machinery when the time is right. You expect growth 2 months from now, from some new emerging markets/government policy change, Act Now.

Am sure each one of you will have your own thoughts on the key drivers to succeed in a start-up and would love to hear your views.