The flow of venture capital is not slowing down, but some startups are starting to feel like they’re being pulled underwater. The hot market for startups has caused a record amount of investment, but it’s not all smooth sailing.
The amount of money pouring into the startup world has been accelerating, as several entrepreneurs and executives discussed during a Brainstorm Tech roundtable session on December 1, Wednesday. The first half of 2021 was a record-shattering time in the world of venture capital, with more than $288 billion invested, Crunchbase numbers show. Many are confronting new challenges in this rapidly expanding industry that is fueled by venture capital funding like never before. The rapid influx of cash poses some significant issues such as scaling efforts and attracting diverse talent within tech startups.
Tejas Konduru, the founder and CEO of mobile commerce startup Via says that now it takes about “two days” for a Series B round. This is much quicker than before as seed rounds take around one month to finalize while A-rounds only last about 7 days.
The way we work now is poised to change the game. Theoretically speaking, small startups can grow into a company that employs hundreds of people.
The demands on a company are higher than ever. It’s not enough just to make the best product, now you need it to be better and faster too! That is where distributed teams come in – each with different backgrounds but all working together as one unit for success; like an orchestra that has been brought together through tuning their instruments so they can play any song perfectly in harmony.
As such, the need for professionalism is important, and it’s something all employees should maintain. It will help them build positive relationships within themselves as well as outside sources like clients by following the right mindset when doing so. Employees must be dedicated to their work in order to achieve success and have this goal accomplished.
For any startup company to succeed, Marcel Daane, voted the 2020 Executive Coach of the Year in Singapore, said managers must learn what he calls W.I.S.E – Where Am I Right Now, Invite Curiosity, Surrender to my most unlikely teachers, and Embrace uncertainty with enthusiasm.
The W.I.S.E system is a powerful tool for managers to use in concert with “living our experiences”, a concept that Marcel has also introduced in his book “Five Energies of Horrible Bosses”. It can help them identify what they want, need, and expect from the people who work for them as well as give themselves clear direction about how best to lead these team members towards success.
In some ways, startups are better or more innovative than big companies. One advantage they might have over larger organizations is that their culture can be experimental with new ideas and initiatives – although this will depend on the type of startup you’re starting.
Companies need to align their company culture with the values they portray regarding what it is that makes them unique.
To know more about Marcel Daane at https://www.marceldaane.com.
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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Smart Herald journalist was involved in the writing and production of this article.