Every startup has different business ambitions.
Some entrepreneurs want to “Get big fast!” Their goal is to raise as much capital as possible so they can recruit an army of engineers, marketing, sales and customer service staffers. Unfortunately, this is a very short-term view on what it takes to build a successful small business.
Generally entrepreneurs often think that startups with big teams are more successful. But in reality, it’s not the quantity of people that matters, but the quality.
Growing your Business and Culture
The faster your company grows, there is a larger risk of sacrificing your company culture which starts with team members feeling “alienated” from the company.
Once people start feeling like a “cog in the wheel,” many times they start looking for other opportunities where they can feel appreciated and build products that are a true expression of themselves. They look for new career opportunities where they can make a difference.
Stephen Cohen, Co-founder and Executive VP of Palantir Technologies, says that “People tend to hugely underestimate the compounding returns of intelligence. ” That is, in order to evolve, we need to solve big and challenging problems.
Being a cog in a large corporate wheel pays well and it’s comfortable, but the reality is that larger corporations pay to accept a much lower intellectual growth rate. When you grasp the concept of compounding intelligence, the cost of missing that long-term collaborative learning curve is huge.
Win the War for Startup Talent
Yes, there is a war for great talent out there.
The best startups in the world are competing for brilliant minds.
The single most important questions you should ask yourself when developing (joining) a startup team is:
1. Is this the best opportunity of your life? Working with other smart people is just one aspect of that.
2. Do you like the company culture? It boils down to the most basic human need: maximizing happiness.
Products and companies are built by people. In order to build the best product in the world, one that people will love and talk about, a product that will disrupt an industry, startup teams need to get one thing right: the culture.