The structure of your startup is critical for your success. In the early stages of a startup, the structure plays a pivotal role in how it performs in the years to come.
Organizational Structure
In the early days, your company is pretty much defined by the lack of funds. Founders need to set clear and strict guidelines. The employees need to be aware of the company’s values and core foundations.
Do not expect overnight results. It’s essential to take in the feedback of your team members and streamline these processes as the business continues to grow. Developing an organizational structure is not only about establishing strict guidelines. You need to observe how your team interacts with each other and then build the plan on their strengths. There are 4 broad ways of organizing your team:
- Matrix: Depending on what is being worked on, this form allows for varied leaders and multiple reporting lines.
- Divisional: Each team works on a particular project.
- Functional: The traditional form where people are divided according to specialty and expertise.
- Flatarchy: Allows for open communication, as there are no hierarchical structures.
Vision and Company Values
Once you have an organizational structure in place, you need to focus on the business vision and values of your workplace. The mission statement of your company represents the goal you want to achieve, and the values are the traits that will help you achieve them.
Your employees must share the same vision as you do, and your hiring policy should be in line with your company’s culture and its values.
Here are some questions to help you figure out your mission and culture.
Why did you start this business? Who is your target audience? How are you different from your competition?
Thinking Ahead
Start-ups work in a fast-paced environment. When you are caught up in a whirlwind of spontaneous decision-making, it is easy to lose track of the end goal. To avoid ad-hoc decision making, having a clear sight of your end goals is immensely helpful.
It is important to have a forward-thinking and winning attitude. We can even help you with our expert Interim C-Suite Executive if you are in the transition phase. As the leader of the company, your team members look up to you to steer them to success. It means that you must focus on the future and avoid past mistakes. Therefore, learn from your mistakes and see how you can make better decisions in the future. Similarly, your goals and requirements should influence the next person you hire or partner with.
Letting Go
The purpose of doing the above exercise is to help you sit-back and oversee the processes of your company. This idea has a lot of supporters but only a few practitioners. Founders dedicate their lives to their companies, and as a result, it can be difficult to surrender control and leave your employees to manage on their own, but micromanaging is counterproductive. Trust your employees, your company’s structure, and let them work towards your vision.
