Startup

Why Are People and Vision, and Not Capital, the Most Important Asset for a Startup?

Ankit Maheshwari
Fri 21 May 2021
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“You don’t build a business, you build people and then people build the business”

-Zig Ziglar

It is right to say that dreams and visions are important for any organisation, every new business begins with an idea or a thought and that particular idea is a vision of what the organization could be. The vision speaks to the organization’s purpose and why is it important for the organization to exist.

Many things should be taken into consideration while building a successful business that delivers stimulating products for millions across the globe are as follows:

Whether you are building a new business from scratch or enhancing the existing one, you need to be clear about the purpose behind it.

Different people have different reasons to start a business while making money could be the first goal of an entrepreneur, satisfaction could be the reason for people who want to run and enjoy the business in the area of their interest. The Benefit to the society could be one reason for the leaders who want to add value to society.

“Business is all about relationships, how well you build them determines how you build your business”

-Brad Sugars

The most gripping thing about almost everything is how it is crafted, ranging from the processes that are taken in place to the strategies that have to be made.

Teamwork is important for the success of all the businesses, every team member has a new and fresh perspective to bring to the table which will benefit the business overall. Businesses thrive when they have a diversity of people who can contribute to ideas. It not only attracts new ideas but also helps to solve a variety of problems collectively and build up team morale.

It is a well-known practice that if you invest in a talented team and give them the freedom to create and play around with ideas then only they will be able to experiment and build something successful. It’s all about nurturing a relationship with your teammates and then reaping the rewards in the long run.

“Storytelling is an art that needs to be mastered”

Storytelling is one of the most expository tools for founders and leaders while building an enterprise. Employees are the heart of the business and the right culture at work can be cultivated by using storytelling in the right way. It is important to share what is important with your employees and leaders have to explain what this means to them. This goes beyond sharing a successful vision, instead share stories about the company's history, its struggles, its values and aims. This will give them something to believe in and the newest member of the organization should feel as connected to the cause as the old one.

Employees who do feel trusted are higher performers, going above and beyond role expectations which helps them “to take moonshots”

“Trust begets trust”

When employees are trusted they tend to trust their supervisors in return because of which they have greater confidence in the workplace and perform at a higher level.

It’s no secret that nowadays business success today revolves around people and not capital, the harsh reality is that capital doesn’t last forever

Operations should be scaled exponentially to keep finances afloat for years. The key is to optimize everything as much as possible.

A vision defines the core reason for a company’s existence and makes work more meaningful. It helps to attract and engage passionate, like-minded employees.

Making your “customers superheroes” is the need of an hour. Retaining old customers is as important as acquiring new ones. Customers that you retain provide valuable feedback and it is imperative to listen to them. They are your biggest brand endorsers and harshest critics. Listen to them, and you will become unstoppable.

Constructive criticism can not only help you to know where you are lacking even if it means bruising feelings or criticizing a product or idea but can help your startup to flourish in the long run.

Always remember,

“The value of achievement lies in achieving”

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