 "6 lessons start-ups can learn from the corporate world")
Many books and articles have been written on what corporates can learn from start-ups — how to build an agile culture, foster creativity in the team, and ship products quickly. However, the opposite is also true in many cases.
There are areas that a start-up can learn from a well run corporate. Implementing these lessons early on will help a start-up immensely along its journey to be a large well-managed company.
Team management
The challenges of managing a team between a corporate and a start-up are not materially different.
Performance discipline
Performance spins the wheel whether in a billion dollar organisation or a company with a few thousand dollars in revenue. Closing sales, managing leads, meeting customer demands, delivering a better experience — these are all part of an organisation’s efforts to keep the lights on.
Financial discipline
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Many start-up founders do not take the time to establish financial discipline and end up paying a high cost for this mistake.
Board governance
As start-ups continue to raise funds and have external investors, it needs to establish a proper governing board. A good board can be a powerful ally to the founder — board members can guide founders through difficult situations, make important introductions, and help raise next level of funds.
People discipline
Operations
Things change very quickly and the old way of managing operations do not work anymore. Founders of start-ups can borrow the processes and operational learnings of the corporate world as they embark to scale.