The Strategist

Successful Business Starts With A Carefully Planned Entrepreneurship


03/14/2015 - 14:40



The success of a business lies in its beginning stages. Lindred Greer introduces various tips for making a business successful for which one needs to work from the very beginning as on today’s foundation will stand the structure of tomorrow.



Stanford, California- 12 March 2015- Silicon Valley is full of leisurely discussions on the future of “new startups”. A professor of Stanford Graduate School of Business (GSB), Lindred Greer throws a new light in this area and reveals that the success of a company is not only linked and limited by the group of people who conceived and materialized the project but also and more importantly on how is their relationship with each other.

Greer’s field of study, namely on organizational behavior, and her research projects “entrepreneurship and team dynamics”, allow her to gauge at a broader picture of the role of collective spirit and the effect of harmonized team play. As a result, she remarks:
“Startup success is as much about managing the people as it is about creating the product”.

Lindred Greer of GSB is all set to introduce her new course of “team dynamics” this spring, wherein she will put forth her opinion supported by her research work which will concentrate on the unique challenges that are to be met on the way with managing a new startup team. In fact, she has even been presenting few tips and glimpses of the secret for succeeding with a new team in her latest interviews.

According to her one should foremost keep in mind the ethics with which one had begun the entrepreneurship, because the initial culture forms the foundation for the future business structure. Therefore, letting go of the founding ethics or diverting from them can equate to erasing the foundational ground without which no structure can survive. Thus, most importantly one should pay attention to decide on the culture that one would like to work with in the future.

Greer also notes that if there an equal right between the founding members, it obviously has the plus points of providing the workers with a common platform for them to come up freely with novel and innovative ideas, which in turn can be used as a motivating tool; however, in the later stage when delegation and hierarchy of power becomes a necessity in order to handle the work load by appointing managers to ensure a smooth functioning system, the “egalitarian ethos” can become a bar.

Therefore, Greer provides a solution to this problem by addressing the startups to keep in mind their founding ethics and to create a balance between the freedom given to the worker in order to motivate them and the need of a hierarchical structure of authoritative power.

While working at the office with a startup team one should also consciously choose to operate in a professional manner, keeping aside all personal matters so as to eliminate the possibility of them influencing the work as mostly startup teams consists of members from a common friend circle. Nevertheless, one should be careful of choosing the members’ circle from diverse field of expertise, so that all can contribute in their area of forte to make a holistic business plan by taking caring of the various aspects of an enterprise like finance, recruitment, management, operational function, legal side and the rest.

A bit of humility never hurts anybody as oppose to a superior who doggedly pursues his ideas and blindly executes them without caring to take in inputs from the co-workers’ experiences. Thus, it is advised by Greer to always “share credit for successes” and patiently listen to their opinions and try to incorporate them in order to create a friendly working environment. In fact spontaneously reaching out to the subordinates is a quality of leadership which contributes further in the value of the team spirit and works as a motivational tool. However, the role of a manager is also to guide his subordinates as to shun clashes and confusions.



References:
http://www.businesswire.com/news/home/20150312006167/en#.VQJ-mY6Uf1U
 





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