Impact of Learning in Growing Startups
Starting a business is never easy, and it comes with its own set of challenges. Building a successful startup requires the right mindset and approach from the very beginning. In our latest Skill Flex Capsule, we spoke to Suhail Narain, Founder at Hudle about his experience as an early-stage founder.
Learning and agility from day one
More often than not organizations implement learning and invest in building agile teams once they’ve lifted off the ground. This sometimes means that organizations have to work doubly hard to integrate skill-based learning systems within the organization.
According to Suhail, learning is something that should be integrated right from the start of any startup. “When building a startup, you slowly begin to identify where you lack skills, knowledge or expertise. In the first few years, it’s important for organizations to build teams that can adapt and evolve. We’re starting the process to find solutions to help our team acquire skills and grow at the moment,” he said.
The Importance of power skills
Teams working in a startup typically need to be comfortable with ambiguity and uncertainty. Priorities change quickly, and sometimes even the entire business model. Suhail believes that agility naturally seeps in when you're starting as a small team because you're doing everything. Companies aren’t always able to afford experts in every domain. However, as the startup grows, it is essential to get specialists in specific areas. Suhail attests that as their team grows bigger, they're looking to employ specialists across departments and one of the biggest challenges they face is curbing their tendencies to meddle in every domain.
Power skills are essential to address this issue right at the beginning of the business. To be able to manage evolving situations is critical as a company grows and companies usually see the impact of not having invested in developing their teams earlier at this stage.
Overcoming organizational challenges
All said and done, startups are constantly in a push and pull between keeping their company afloat and building teams that genuinely drive growth in the company. One of the biggest challenges startups face is setting up efficient organizational systems that develop a culture of learning. From lack of knowledge and resources to resistance to change and limited time and energy, the obstacles can seem insurmountable. The entire process can be overwhelming and leave startups struggling to maintain their business efficiently.
The biggest blocker in this process of setting up a learning ecosystem is a lack of knowledge and expertise. This is especially true for first-time entrepreneurs who are just getting started. They may not have the experience or the resources to set up a proper system and have a high chance of falling into common traps such as poor structure, lack of accountability, and unclear communication channels.
To overcome this, startups often seek the help of experienced consultants or advisors who can provide them with the necessary knowledge and expertise. Such consultants can guide startups in setting up an efficient organizational structure, and help them develop clear communication channels and policies. However, it can end up being one of the most expensive routes to take.
Lack of Resources
In most cases, startups work on tight budgets and have limited resources to invest in setting up an efficient organizational system. They may not have the necessary funds to hire experts or purchase the required software and tools. As a result, they may end up using outdated systems or processes.
To overcome this challenge, startups should focus on prioritizing their needs and invest in essential tools and systems first. They should also explore cost-effective options such as open-source software and cloud-based solutions. Additionally, startups should consider outsourcing services such as HR or payroll management to free up internal resources and focus on core business operations.
Resistance to Change
Resistance to change is a common challenge faced particularly in startups that haven’t built in an agile mindset right from the beginning. Teams may not be open to new changes, especially if they have been used to a certain way of working. This can cause conflicts and struggles in the workplace, which may ultimately affect the productivity of the team.
To overcome this challenge, it is important to communicate clearly with employees and involve them in the process of implementing new systems. Employees should be made aware of the benefits of the new systems, and their concerns and feedback should be heard and taken into consideration. This helps build a sense of ownership, and employees are more likely to be supportive of the new changes.
Limited Time and Energy
Startups are often focused on building their business and have limited time and energy to dedicate to setting up organizational systems. This may cause delays in implementing essential systems, and result in inefficiencies and errors.
According to Suhail, prioritizing tasks and setting achievable deadlines are key. Startups should also consider delegating tasks to capable team members who can take ownership of specific tasks and deliverables.
By addressing these challenges and implementing efficient systems, startups can improve their productivity, efficiency, and overall success. Fundamento helps organizations integrate skill-based systems to develop performing teams. Reach out to us at firstname.lastname@example.org.