Why do some start-ups flounder whilst others fly?
Why do some start-ups flounder whilst others fly? It’s a question that Silicon Valley wizards have been asking themselves for years yet making little headway – until now.
“There’s a line of thought that’s circulating which says everything we do is about people,” explained William Tincup, president of RecruitingDaily.com – who’ll also be speaking at our upcoming HR Tech Summit in Toronto.
“And we’ve start to see, especially in Silicon Valley, that start-ups are starting with people. These organizations are having much more success than those who choose to start with tech or engineering. If we are the sum of our people, then why wait till we’ve got 100 hundred employees on our books to then start focusing on people. We should be much more logical about this – and that’s exactly what we’re beginning to see in the more successful start-ups.”
This all seems like common sense, however, as Tincup told us, it’s an issue that many founders choose to ignore. And whilst some of it comes down to having a solid people strategy in place from the offset, there’s also another aspect at play – natural selection.
"Some salmon aren’t’ supposed to make it up the stream,” he added. “If they all did we’d have too many fish. No one wants to hear that, obviously – they prefer the happy the ending where all the salmon make it, but the truth is that there’s a reason we have predators in the animal kingdom; it balances out the ecosystem. There’s a reason snakes exist, and sharks and lions and killer whales – it’s all part of a greater pattern.”
So, what can HR leaders so to help ensure their fledgling business is off to the best possible start? Tincup tells us to stick to the three Rs.
“Recurring revenue, repeatable process and referenceable clients. A successful start-up will know not to go so fast that they end up treating their customers like rubbish. Taking on clients so fast that you’re turning them over through bad treatment is not a sustainable business plan. That’s a not a business that will still be there in a couple of months.
“If you’re lucky enough to sell someone something, treat them like gold.”
With HR tech moving at the pace it is, take your eye off the ball and you’re out of the game. William Tincup will be sharing more of his innovative ideas at our upcoming HR Tech Summit, in Toronto on 26th & 27th of June.
Stay ahead of the curve and secure your place now.