StartupTalky

Tag: Building Startup team

  • Building the Initial Team for Seed Stage Startups

    An opinion shared by Mr. Arjun Nijhawan, Director, Nijhawan Group.

    Finding seed capital, which converts a “two dudes in a living room idea” into something with considerably more promise, is one of the most thrilling occasions for a startup. Here are some of the areas where we should concentrate our efforts:

    Hiring T-shaped people versus specialists

    One of the axioms of the startup world is that everyone must wear several hats. Backend programmers might have to pitch in and do some feature development, designers could have to write some marketing copy, and the CEO might have to vacuum the office, to name a few truisms in startup land. Also, if you feel that startups are essentially learning about their customers and the market, you’ll need people who are adaptable and can identify links between disparate topics. So, you’re looking for generalists, but a certain type of generalists.

    The first group of people you want on your team will be T-shaped, indicating they are wide in a variety of areas but specialize in one. The range of their skills provides them enough in common that they can talk about anything with anyone in the team, but the depth of their knowledge makes them indispensable to the team.

    Make an effort to recruit doers

    Early on, it’s critical to hire folks that are execution-oriented. Senior folks or “philosophers” who don’t immediately bring value to the product development process just don’t fit in. When it comes to seniority, prefer to hire people who have recently held positions such as team lead or director, but no higher. That way, you get folks who are used to being in charge of a team but are yet close enough to have an immediate influence. This is why people with expertise in consulting or finance are impractical partners — they are overly focused on strategy and financials while you should be 100% focused on specific products and customers.

    More candidate flow addresses several issues

    Getting the first 2-3 people for most seed-stage startups is usually not an issue — you’ll have folks in mind or someone in your close circle of acquaintances who are easily available. What’s more difficult is moving beyond your immediate network, where you might come across:

    • People you desire are employed and uninterested.
    • As an entrepreneur, you know a lot of entrepreneurs who want to start something, not join something
    • There are a lot of “OK” people who are interested, but who are difficult to get excited about.

    It’s all too easy to get into a trap where limits are reduced, things you don’t want are accommodated, and all sorts of other issues arise. Alternatively, you may have had interviews where the person was adequate but not exceptional, and you desperately need the skillset.

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    Interview for the actual work you’ll be doing, not skillset trivia

    Most interview techniques are ineffective because they do not simulate what it would be like to work together. The ideal interview would consist of merely an interview, followed by two months of collaboration and a checkpoint to assess if everything is going well. However, because the majority of job seekers are unwilling to do so, a three-day “working interview” is a viable alternative.

    Don’t place too much emphasis on intelligence alone

    All of the young, brash entrepreneurs I know want to hire more people like them — hardworking, high-powered individuals. As a result, you can design an entire hiring process around intelligence, complete with puzzles and brainteasers, and reward everyone who can think swiftly. I’ve discovered that using this as a minimal threshold for recruiting individuals is a bad idea — it’s equally as crucial to consider factors like love for the field you’re working in, their motivations and goals for working at your firm, and so on. The reason you need to analyze this is that startups are extremely difficult and can take longer than expected; as a result, it’s critical to understand people’s motivations from the outset to ensure a good fit.

    Conclusion

    Rather than taking people who love numbers/data/algos and trying to train them to love a specific product area, the ideal scenario is to locate people who have a passion for the product you’re bringing to market and then train them to be metrics-oriented.

  • 10 Characteristics That Attract Investors to Invest in Your Startups

    The article is contributed by Mr. Saarthak Bakshi, Chief Executive Officer (CEO) of the International Fertility Centre.

    Mr. Saarthak Bakshi is recognized as Forbes 30 under 30 ASIA, 2017 for HealthCare and Science. He is known for his persona as an engineer, an entrepreneur and a social worker. He flourished his career by working with reputed companies – Infosys and Ernst & Young – as a Software Engineer and IT Risk and Assurance Analyst respectively. He soon realized that he has an inborn passion for entrepreneurship and went on to launch a slew of ventures including IFC.

    As we know that starting a business can be expensive. We may have less cash in hand to get started without some outside help but sometimes, it is important and beneficial to have investors in your business. It gives you a sort of security. Investors in your business are different from lenders. Instead of monthly repayment like lenders, investors give you money in exchange for ownership of part of your business. Apart from money they can also be an important source of business-related advice and strong business networks, which you can utilize for your own business. Therefore, it is important to draw the attention of the investors to make their decision firm to invest in your business. Most important thing is that investors want to see a return on their investment. They make money by putting their money into the growing business. Therefore, how to woo them plays a crucial role in the success of any startup. It is not necessary that every investor looks for the same things but still there are chances of commonality.

    So, here are ten points to make the investors interested in your startup.

    1. A passionate business proposal
    2. A market-oriented deal
    3. Demonstrate your success rate
    4. Competitive advantages
    5. Have an emotional approach with logic
    6. A strong team
    7. Experience
    8. The investment structures
    9. A scalable model
    10. Future vision and planning

    A passionate business proposal

    Having a passion for their startup is easy to be found in new business founders.  But how your business will help the investors to gain profit is a deciding factor for their interest. They want your confidence justifying that it is an improvement over existing products or is a new way to address an old problem. You should demonstrate your firm belief and confidence in your business.

    A market-oriented deal

    It is one of the important points that to pitch potential investors, familiarity with the market is generally the safest option. Startup investors look for opportunities in sectors that fit their interests and expertise. They already have an idea of how businesses become profitable in this industry and what it will take for your business to yield a return on its investment. Thereafter reviewing and organizing your proposal, go for the market research to pitch in a suitable investor.

    Demonstrate your success rate

    A track record of previous success is critical to attracting the interest of investors who can take your venture into your business. Most of the time successful startups are a rarity, therefore it becomes difficult for inexperienced entrepreneurs to convince the investors to lend their capital. But, if your business can captivate the market and the customers and if your track records give a guarantee of success, then you have a fair chance.

    Competitive advantages

    Most of the time investors look for satisfactory answers to the following question: What makes your product/service unique? There must be something about your product that sets it apart. If your product and you’re the first to the market, then it’s the best thing. However, most startups are entering existing marketplaces. What then makes you different? And how affordable it is in comparison to the already existing quality?

    Have an emotional approach with logic

    Whenever you are pitching with your investor, you must hit them on both emotional and business fronts. Include a story with your plan. Make it appeal to real-life scenarios and how your idea will solve the problem. At the end of the day, investors look for founders who have passion, motive, and experience to create a profitable as well as a sustainable business. It is not a matter of only ideas or concepts, the investors look to invest in you and your team and their ability to successfully execute your business plan.

    A strong team

    If you have a competent team, you have the attention of the investors. Show them that your team is intelligent, strategic, successful and follows strong financial discipline. Show them the qualifications of each member and what they bring to the business. Having a team that is knowledgeable, willing to learn and can handle multi-responsibilities are all positive traits that will impress your investors.

    Experience

    Experience can play a convincing role in winning over investors. If your team members have prior experience in their respective fields or have been involved with a startup in the past, it shows that you and your team have knowledge of your market and are tenacious enough to complete goals.

    The investment structures

    You should have a clear business structure in place that allows the investors to consider it and buy it. You should also plan for how the investment will work. In that plan, you must include, a clear valuation for your business and a stockholder’s agreement that clearly sets out the rights of all the owners.

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    A scalable model

    Build your business with scalability in mind. Most investors expect a return on what they are investing. Therefore, scalability is a major factor for successful startups and a great attraction to investors. Basically, scaling is known as adding revenue at a rapid rate while adding resources incrementally. The amount of resources required doesn’t change as your customer base increases, driving consistent growth and improving profit margins. Therefore, the plan of your faster revenue, makes the investor consider your startup dearly.

    Future vision and planning

    Give your investors a picture of your potential startup, that is where your company will be in the future and make them optimistic that you have the credibility to achieve your goals. Plan along the lines of where is your startup going? How do you see your startup in the coming years? Do you plan for the worldwide market? Etc.

    Conclusion

    Attracting startup investors to your company is necessary for your business. Therefore, you must put all the pieces in place to show that partnering with your business would be a smart move for them. Highlight the best parts of your startup and discuss your challenges with them openly. Investors will get on board when you demonstrate your best.

  • Building a Successful SaaS Startup: A Practical Framework That Really Works

    The article is contributed by Pankaj Gupta, Founder and CEO, EnableX.io

    The Indian SaaS industry is now firmly on the upward growth trajectory. As per the Zinnov’s Punching Through The Global Pecking Order report, in 2022 alone, the Indian SaaS industry saw a whopping 50% rise in revenue and a 3x increase in VC funding. This makes it abundantly clear that the country’s SaaS ecosystem has finally come of age. While the market is growing at breakneck speed, building a successful SaaS business is not easy. Like any business, it takes time, effort & a lot of innovation to scale a business in today’s ever-evolving environment.

    Launching a SaaS company involves many steps, which can be daunting for first-time entrepreneurs. Let’s go over the process of getting your software business started:

    1. Getting an Initial Set of Clients

    No matter what industry you’re in, every founder has the same burning question: “how will I get my first 10 customers?” The best way is to start with your existing network. It’s low-hanging fruit. Talk to the people you know. It may not yet be a big number, but in the process, you may find a few relevant connections among your friends and family. And don’t get disappointed if none of them is directly interested in using your service; they might refer to somebody who may need it.

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    2. Things Founders Must Focus on Amidst Noise

    You’re off to a good start if your product addresses a pain point or fulfils a burning need for someone and does it better, quicker, and/or cheaper than its competitor. Here are the following things that can be helpful:

    Build a Quality Product

    The success of a business depends on how well you understand the market needs and then build a product that addresses the users’ needs or problems. Therefore, spending some time and resources to understand customers’ requirements is fundamental & key to success. Once you’ve established a product-market fit, you are on the right path.

    Be Agile

    Change is the only constant, and this maxim is truer for SaaS companies. The business landscape is changing so fast that it may become obsolete by the time your product hits the market. Agility is not just about the product features; it includes everything – IT stack, business model, and culture. It should be nimble and should be able to respond faster to remain competitive. Therefore, it is essential to have a keen eye on the changing market landscape, evolving customer preferences, and competitors.

    Establish Robust Customer Support

    It might sound a cliché, but your customers are the heart of your business. Apart from the product quality, they always want to know how fast their problems can be resolved satisfactorily. Therefore, build robust customer support service that enhances the overall customer experience.

    Even if you don’t have the financial muscle to put a 24*7 customer support team, there are many options. You can use Twitter and Facebook to provide quick support. You can also implement a ticket system to manage the support request or can put a well-defined FAQ page/User Guide on the website.

    3. Building a Team That Delivers

    It is essential to have a clear vision, commitment, and sincerity to realize your vision as a founder. You must believe in your product and have a clear roadmap of how you want to take it forward. And most importantly, you need to build a competent team that can help realize your vision. While hiring people, pay attention to skills, but it should not be the sole factor. Along with qualifications and skills, hiring people with a growth mindset, the right attitude & cultural fitment are key. Also, be extra careful while building your initial team as these are the set of people who are more likely to stay with the company for a long time. They should exhibit a clear commitment and drive to achieve something and excel in their work in a fast-changing environment.

    As a founder and also your team members should be fully aware of what’s happening in the industry and what’s hot in the space. And of course, keep an eye on the competition. Know what your competitors are doing, what features they have built & what is their overall strategy. Keep tracking industry trends, technology and other news items pertaining to your industry. Networking with other startup founders, and attending industry events and peer groups is the best source to have a sense of what is happening in the environment around you!

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    Conclusion

    Building and sustaining a SaaS business can be exhilarating and overwhelming at the same time. Though there are many steps to take before you can even start thinking about making money from your SaaS business, the points discussed above are crucial to starting right!

  • How to Build a Great Startup Team? | Tips to Keep In Mind While Developing a Startup Team

    There is a quote that we often hear “Teamwork makes a dream work.” Any startup’s journey to success begins with a great team. The team will determine whether the startup turns into a business model or a thing of the past. According to statistics, not having the right team is the third-highest factor (accounts for 18%) behind the failure of startups and the startup failure rate itself is 44%. There’s no such thing as a startup having a sole owner. If you come across successful startup stories, you will find that they owe all their success to their team. If you’re thinking of launching your very own startup, make sure you have a great team.

    Common Reasons For Startup Failures

    In this article, we will talk about how to build a great team for your startup. So, without any further ado, let’s get started.

    How to Build a Startup Team?
    What Must Your Team Be Made up Of?
    Factors to Avoid While Building a Team

    How to Build a Startup Team?

    A team that believes in the vision and works tirelessly to achieve it is an answer that gets an A+. Unfortunately, it is slightly more complicated than that. When we break down what makes a great team, the two things that are extremely significant while building the perfect startup team are:

    The Vision

    It starts with your vision. The teams that are self-aware have fared better than the teams with no clear thought process. Dedication and perseverance are great qualities to have, but if they were the only necessary ones, the failure rate of startups would be less. Everyone needs to be in the same boat, row, and in the same direction that will get you ahead. However, every startup needs an edge.

    It is what makes your crew WANT to row in the same direction and a willingness to work with others to make it happen. In order to achieve this, you have to convince each and every person in your team and make them believe in your vision. Your vision must ultimately result in making your customer’s life better. Every team member must individually feel responsible for that. Only then will they give their heart, soul, and maybe even throw in an arm and a leg to see your vision come true.

    The Hiring Process

    What is the process to hire a dream team? There is neither a rule book nor an HR policy in your case. The process is tough and will send you somersaulting for suitable hires. A potential hire is one with a great attitude. If that person is smart and gets things done in time, recruit them. A likeable personality is a bonus. Scout colleges, browse LinkedIn profiles and network with your circle. Sell them your vision. Define startup roles and responsibilities accordingly. Hiring five managers because they are excellent is a hiring disaster. Take only the people you need.

    However, cooperation is slightly more important than talent in the beginning stages. A team with a tight bond is more likely to achieve success than one in a constant state of the cold war. Never settle. If your vision excites them as much as it excites you, hire them! An important thing to remember when interviewing a candidate is to see if they will stay with you at least until the startup is solid. A good way to ensure that is to have a transparent contract, binding them for a stipulated time.

    That being said, recruit as if you were recruiting for a business and not a startup. That way you don’t have to hunt for a new core team when your startup turns into a full-fledged business. Beware of bad hires. A bad hire in a corporation results in a loss of time and money. A bad hire in a startup is a recipe for failure.

    What Must Your Team Be Made up Of?

    After the hassle of recruiting is over, we have a team. Let’s dissect the team. An ideal team is balanced. If there’s a risk-taker, then there must a speed breaker. The startup team structure should be made up of – a brainiac, a hard worker, a financial expert, a crisis solver, and a leader. These traits are not mutually exclusive and are a generalized set of traits that any startup needs. Your team needs at least one person for each trait.

    Team Dynamics

    The core team is the face of the company. Their personalities and interactions will breed the eventual company culture. That is why initial hiring is difficult and important. A core team for a startup is like a family. The company’s losses and gains are personal to them. Your team must at the very base get along. Connect with individual members and make them feel like family. That will result in their 100% effort. Be open with your team right from the hiring process. Be clear about your expectations of them. It is better to have someone not aligned with your goals quit sooner rather than later. Earn their trust.

    Even if things don’t go well, inform them. Don’t get too caught up in work though. Take time out to enjoy yourselves occasionally. It shouldn’t be all work and no play. Also, continuously monitor and evaluate your team to find and remove inefficiencies.

    Role of a Leader

    We are yet to discuss the importance of a leader. There are a lot of unknowns at the start. A leader must be an idea-generator, a crisis averted, a problem solver, and must also constantly boost the morale of co-workers. If that leader is you, then you better start working on these skills. Soft skills are important as well. Develop a good rapport with the team. If at any point in time, the team loses a sense of direction the startup will sink. The leader must keep them on track.

    Most Importantly, the early stages are critical and can make or break the team. Early-stage leaders are in a position to make the most impact as compared to the later stages, where the company already runs on a well-defined set of factors. A CEO at that point has no major impact on the process, only the major decisions. The leader is also responsible for the kind of image the company projects. If the company has an online presence, then the CEO’s personal opinions if expressed become a reflection of the company’s culture and policies.

    Factors to avoid while building a team

    There are some factors that you should avoid while building a proper startup team and they are:

    • Avoid homogeneity at all costs. Like-minded people rather than minds that think alike. Homogeneity kills creativity. There would be no exchange of ideas as everyone will agree on a single idea. Everyone has the same weaknesses and strengths. There is no balance. Don’t sacrifice diversity at the altar of cooperation.
    • Don’t take the pressure of hiring on your head. If it proves to be difficult to obtain recruits, hire a recruiter. It is a good investment in the long run.
    • Don’t prolong firing a bad hire. Cut your losses now rather than incur them later.
    • Do not reject people who have faced failure. They are more likely to take risks, which is what startups need.
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    Conclusion

    Having said that, there are no ‘building teams for dummies’ or ‘advanced team-building theories’ to get you there. The startup journey is a rollercoaster. Many times, you may have to ‘wing it’. The dynamic nature is what makes it a thrilling journey. Seeing your vision turn into reality after putting in months or years of work is highly rewarding. The journey is as important as the destination and the right team makes it an enriching experience. Remember, your company is only as good as its core team for startups.

    FAQs

    What makes a successful startup team?

    Startup experience, product knowledge, and industry skills predict the success of a new venture.

    How do you strengthen your team?

    6 Ways to Strengthen Your Team:

    • Hire with Purpose.
    • Lead by Example.
    • Communicate Effectively.
    • Ask for Feedback.
    • Team Building.
    • Recognize and Appreciate.

    How do you start a startup team with no money?

    Tips to start a startup team with no money:

    • Stay true to the core purpose.
    • Form a kickass team.
    • Expand your social media presence.
    • Collaborate with established brands.
    • Make every customer feel special.
    • Keep an eye on your competitors.
    • Make the most out of the tools.

  • How to Decrease the Chances of your Startup Failure?

    The average life of a global enterprise is usually just 2 years; most of them fail and cannot survive after this time, due to different factors. Among them, we can find financial lack of control, bad administration, and a little vision to take them into the future. In the next top 8, we will be able to give you some tips to prevent your business from failing and even to boost it.

    1. Research the Market
    2. Take Care of Finances
    3. Set Goals and Objectives
    4. Identify Areas of Opportunity
    5. Find the Differentiation
    6. Attract Customers Constantly
    7. Startup Costs for Starting your Business
    8. Working the “Fear” of the Risks of Starting a Busines
    FAQs

    1. Research the Market

    Researching the Market
    Researching the Market

    Researching the market is probably the number one step that every entrepreneur or business owner should take. This is as such a tool applied through surveys, evaluations, and file information, which allows knowing the real needs that consumers have, their tastes, preferences, and profile.

    It should be done in order to know how the competition develops, what customers are they looking for and the opportunities they have to be a strong company. By having this information very well-identified, viable business models can be created and adapted, which by themselves are already promising for the future.

    2. Take Care of Finances

    Take Care of Finance
    Take Care of Finance

    The administration of financial resources is very important to be able to support the entire business and prevent it from falling. The rules that must be followed include the constant review of the financial statements, the measurement of expenses and income, and taking into account the need for financing at some point.

    In other words, every business that wants to accelerate its growth needs to obtain sufficient financial resources to achieve it. In one of the reports on credit and growth, we learned that only 40% of entrepreneurs focus their resources on strategies that can create long-term value.

    3. Set Goals and Objectives

    Set Goals and Objectives
    Set Goals and Objectives

    It is important that you adhere to the business plan that you created, in order to have the goals and objectives established and to know where it is necessary to direct your business. In other words, this helps you know what you and your team need to do in order to take the company to the next level.

    You can follow work methods in which everyone knows and defines their tasks to fulfil them on an estimated date, and thus obtain the improvement and growth metrics they are having.

    4. Identify Areas of Opportunity

    Identify Areas of Opportunity
    Identify Areas of Opportunity

    Identifying the areas of opportunity is the only way in which a business can improve and be more likely to continue operating and attracting customers. Ideally, you should constantly get feedback from your customers, to know what your service is like, the quality of your product, or even what they need.

    You must identify those aspects within the business that need to be improved, for example, manufacturing, administrative, or even maintenance processes, and think about how you can improve them.

    5. Find the Differentiation

    Find the Differentiation
    Find the Differentiation

    One of the very important qualities that prevent a business from failing is its differentiation. By offering something totally innovative that makes the business stand out, it is possible to attract an endless number of clients and consumers who wish to satisfy any need.

    Companies that manage to be disruptive stand out from their competition and even manage to change the development of their industry. In Latin America, different businesses have been created that start from being SMEs to achieving a big breakthrough.

    6. Attract Customers Constantly

    What makes a business work, in addition to finances, are the clients since they are the source from which the capital is obtained so that everything continues. There are different ways to attract them, for example, digital presence, different sales channels, advertising on social networks, and other marketing strategies that you can adapt to the vision of your business.

    At this point, we recommend that you must know very well the profile of your clients/consumers and that your efforts really serve and turn into sales.

    7. Startup Costs for Starting your Business

    In addition to infrastructure and personnel costs, it is necessary to take into account the costs of setting up the company itself. The main expenses to start a business are the fees of the Board of Trade and the issuance of the permit, if applicable, in addition to others that vary between states.

    The total cost by traditional means can vary from R$700 to R$2,000. However, the facilities of the internet already influence these processes and the costs to start a business online may be lower than that.‌‌

    8. Working the “Fear” of the Risks of Starting a Business‌‌

    Working the Fear of Risks
    Working the Fear of Risks

    One of the biggest fears faced by the entrepreneur is making mistakes and, consequently, losing the money and time invested. Among the risks of starting a business, this one stands out. This fear usually arises from insecurity in making some important decisions that involve risks. The tip is: take risks, even though you are going to make mistakes. You might take wrong decisions and will make a lot of mistakes but this is natural.‌‌

    How much money do companies spend on Market Research?
    Big companies spend nearly 5-10% of their annual revenue on market research as it provides a deeper understanding of their customer and competitors.
    StartupTalkyVibhavari Madki

    Conclusion

    It is estimated that out of 1,000 businesses, 800 fail in the initial stage of growth due to their negligence towards several crucial factors. Therefore, by following the above tips, you can increase the chances that your business will continue to develop in the market.‌‌

    FAQs

    What is the most common cause of failure for a startup?

    The causes for startup failure are money running out, lack of research/being in the wrong market, ineffective marketing, bad partnerships, etc.

    Why do 90% of Startups fail?

    The major reasons behind the startup failure in India are lack of motivation, lack of funds, lack of focus, lack of agility, business model failure, etc.

    How can startup failure be avoided?

    The startup needs to be updated with the technology and the software that they are using. All the members of the company should communicate, motivate and channelize the energies of the team to be successful. By following this we can avoid startup failure.

    What happens when Startups fail?

    When startups fail they would apply those payments to any outstanding debts, liquidate assets to pay debts. In many cases venture, capital investors, and other investors will end up with the loss.

  • Startup Learnings from a Serial Entrepreneur, Gaurav Singh

    This article is contributed by Gaurav Singh, Founder & CEO, Verloop.io

    Gaurav Singh is the founder and CEO of Verloop.io, which is a leading customer support automation platform. Singh knew early in his life that entrepreneurship was his calling. Coming from a humble background, finding his footing was not an easy task. However, despite the obstacles in his path Singh tasted success right from his first venture.

    He is a serial entrepreneur and shortly after his first company, GoDeliver was acquired by MagicTiger, Singh founded Verloop.io in 2015. Singh had observed that the biggest challenge that tech companies face in this age of instant gratification is engaging customers and building loyalty. As per him, these challenges become even more pronounced in the markets that are mature. Verloop.io was established with the objective of bridging this need gap.

    During the course of his entrepreneurial journey, Singh had to face challenges that almost every start-up has to go through. Here are some of the learnings that he has picked in his journey –

    Work on the core

    He believes that every entrepreneur should build their core team early. Most startups put off hiring till they have found a footing. While some believe that this may help them save costs but it may not be the right move as the founder may end up micromanaging everything or have no time for the big picture stuff. As per Singh, it is better to have specialists for every function that can help the founder to decide the best course of action. A good team is also a great asset to bounce off strategic ideas and decide the best course of action. Here’s a guideline on how to build a great startup team.

    Time is of great essence

    Most entrepreneurs are in a rush to make a mark. However, there are times when it is best to have patience. Singh believes sometimes the only thing missing in cracking a problem is time. Given enough time and resources, every problem is solvable.

    Know which problems to pick

    In a startup, there are always a million problems to fix. However, if the founder goes about solving each of them, then his team and his product will be headless. It is thus advisable to choose the problem/problems that deserve attention and solve them well.

    Also Read: 8 Best Time Management Tips for Startup Founder & Business Owners

    Employees and Customers are your biggest stakeholders

    Another key learning that Singh shares are that in a startup, the goal should be to build for the customers as well as the employees. In his opinion, most times startups end up ignoring employees, which has a hugely detrimental effect across the organization. He believes that the founders should ensure that their employee experience and customer experience is top-notch.

    Hire, train and scale

    Everyone that is hired may not fit the bill 100%. Hence, organizations need to build in processes to help people reach their potential.  Onboarding and constant learning can help employees to scale to become the leader in their field. Companies need to nurture the talent and put in practices that inculcate a culture of learning.

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    Data-driven and experience led

    A mistake that a lot of startups make is that they are driven just by the data. While being data-driven is good, but most of the times data may not paint the whole picture. Hence, companies need to make some bets with experience and intuition and back it with data.