The myth of "overnight success" is a powerful one, and young businesses understandably want to grow fast and be profitable quickly. However, startups shouldn't be so eager to be the next big thing, and instead focus on building a strong and well-managed company for real ROI.
That's what Will Schroter writes in a piece for Forbes that takes a second look at what "startup success" really means. He says that inexperienced executives think that getting fully funded will mean they have "made it."
Each step along the way of startup development, from securing investors to gaining coverage in the press, should be seen as a part of the larger process. If a startup CEO gets too complacent during any of these stages, he risks losing growth and abandoning further progress.
Another example Schroter highlights is the launch of a new product. While this is certainly an achievement for any company, it's a part of the overall strategy, not the end result.
"People don't get medals for starting races, they get medals for finishing them," he writes. "Look at your big launch as a nice start, but only one step in the larger race. Companies don't magically become successful from launches, it's what they do after the launch (and years upon years after that)."
Part of thinking "big picture" means hiring employees who will work hard and invest in the organization. Startup executives like Andrew Bellay advise testing, research and customer monitoring instead of novelty and "over-engineering."
If your business needs a CEO who thinks long term, an executive recruiter can find someone with the right vision and commitment. True success is ongoing, and with a great executive, will come to your company again and again.
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