Startups are not for the faint of heart. It takes guts to plan, strategize, and get the right people to execute the ideas to fruition. For the Nexel discussion Wednesday, a curious question brought up by Mr. Rajat Kumar goes by like this.
Four friends started an e-commerce startup and took the responsibility of marketing, finance, strategy, and logistics in the first year of the organization but as the organization grew two of them grew overworked while one parted ways. However, the organization did register profits so the three options they have to enhance their growth are:-
- Appoint a CEO among them.
- Get an external CEO with experience in E-commerce.
- Add qualified managers to their team, answerable to all of them.
To which Mr. Saurabh Goyal suggested that finding a co-founder who is a resilient entrepreneur is much better than friends as well as going for an experienced CEO and managers can get extravagant and a mentor and guide would really make the business prosper well.
Ms. Monica Rajiv Batra posed a doubt that does anyone get a mentor that easily with similar zeal and mindset and was answered very well by Mr.Goyal that to get a good mentor people need to have the mindset of learning from someone better than them, rest works out effortlessly.
Mr. Sagar Vaghasiya intimated us by choosing option three of hiring managers as to give any particular solution the mindset and skill of the remaining three members need to be understood and executed.
Mr. Suresh Balchandar added his two cents by suggesting that no startup should think of layering itself before 37th month as it takes at least 3 years to understand real problems and delegation can be done to freelancers if unavoidable. Concentration on market penetration, client acquisition, and brand building is crucial and everybody does everything to fill the gaps.
Mr. Sivesh Kumar added that adding an external CEO who has toured the similar routes can be the captain and a mentor as experience does matter. The first year is about experimentation and ahead is needed who knows the tides and waves.
Ms. Pia Singh said that if the strategy guy left then they already have a strategy of 5 years, therefore, they need a consultant, not a CEO to build the roadmap, managers, and automation to lower the burden as well.
Mr. Rajat Kumar focused on the importance of proactiveness of the members of the organization as any startup is a well thought out, planned entity and there’s no reason it should stop growing as world is full of enthusiastic and zealous people with a similar mindset.
“ Never depend on a single source of income, never depend on a single set of people” – Informally speaking:
Diversity is a bitch that becomes your cutie pie once tamed. If you are interested in Jargons.
The Full Answer
A typical Organization chart which maps the kind of stress an organization is likely to be in according to their life. Notice the fact that a spark of creativity creates an organization, and it’s management that takes it forward. The creatives left alone are often known to get consumed or lose their value over a time. There aren’t many problems left unanswered. Just hidden in plain sight until you notice that the best solutions are mentioned right on top. I almost pity so many of my friends who quit their startups.
As I said earlier- once you learn how, it’s easier to make it on your own. Why find a CEO if you can be THE one?