Startups and Beyond: Building Enduring Organizations

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14 | STARTUPS AND BEYOND STARTUPS WIIFM * ? ACHIEVE Develop an entrepreneurial mind-set of action and reflection | Evaluate business ideas from customers’ perspective | Build products or services that address validated customer needs | Discover robust business models for the venture | Build a cohesive and dedicated initial team | Launch with limited resources | Focus not just on starting-up, but on achieving lasting success * WHAT IS IN IT FOR ME? AVOID Having a solution-looking-for-a-problem approach | The frustration of not understanding customer needs well | The confusion of starting-up with many untested assumptions about the product, customers or partners | Friction between co-founders | The anxiety associated with pursuing ideas with poor revenue and growth potential | Either taking too long to launch or launching in haste without adequate preparations | Over-focusing on the product or service development, at the cost of market development
INTRODUCTION | 15 EXISTING ENTERPRISES ACHIEVE Develop organizational systems to support growth and to monitor progress | Focus on a few well-defined business goals, and deliver well against them | Manage and grow customer relationships | Develop and launch new products or services | Find and induct the right talent and empower them to execute flawlessly | Develop workforce that is aligned to the organization’s mission and culture | Proactively explore improvements and breakthrough innovations INVESTORS Determine investment risks and opportunities | Mentor each portfolio company with a clear and unique roadmap | Develop deeper insights into founding team’s motivation and capabilities for building a long-term business | Evaluate venture’s readiness to scale AVOID Pursuing growth that de-stabilizes or breaks the organization | The confusion of pursuing conflicting priorities and/or too many business goals | Getting lost in the daily grind, and losing track of the strategic picture | Ad-hoc or ineffective people hiring processes | The shock of being disrupted by agile new businesses | The pain associated with high employee attrition rates | The frustration of slow and/or centralized decision making | Lack of visibility into financial and non-financial progress BUSINESS CONSULTANTS Understand the factors that enable high-performance in organizations | Advise clients on mindset and strategies needed to build enduring organizations | Assess client organization’s current maturity | Support client organizations in practice implementation and cultural changes needed to move up the maturity levels EDUCATORS Enhance existing curriculum on management and entrepreneurship with MMEO’s practical offerings | Educate students about the virtue of building long-term enduring organizations | Mentor and guide student startups | Build experiential learning opportunities
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