Today’s business world is ever changing and often unpredictable. This type of environment can be overwhelming and stressful, even for the most experienced and knowledgeable business owners and CEOS; making it all the more stressful for an untried startup company.
Leland Sandler and the Sandler Group understand that many startup CEOs are being put in a high level position for the first time. Invariably, these new CEOs will have a lot on their minds, worrying about everything from cultivating investors, to hiring, to meeting development schedules, and more.
The most important advice that Leland Sandler can offer to every startup CEO is to always have the courage to take action.
While dealing with daily challenges and the company’s growth and development, it is important to be thoughtful, understanding, and inclusive of others, but at the same time, one must remember to have the courage to act.
Another essential aspect of a startup is building a solid foundation for the startup’s culture. In the early stages of a startup company, the focus tends to be on results, outcomes, milestones, and progress. There is often not enough focus on the people themselves and how they are engaging with one another. For this reason, startups would benefit greatly from building a culture from the ground up. If the startup fails to think about the culture they want to create for themselves, they will end up with a culture that doesn’t suit their specific needs. Instead, they will take with them what they experienced with their other companies which is often less than what is necessary for the startup’s success. Before long, there will be a lack of transparency, a lack of collaborative decision making, hidden agendas, and other factors that lead to a more effective political culture than a progressive culture.
Fortunately, Leland Sandler believes that startups are great in terms of cultural development. Startups are generally small, which means implementing the right practices and strategies for the company is a relatively easy thing to do. Cultural development begins with principles: fundamental principles revolved around ideas like:
- What is going to make the startup successful?
- What is going to initially keep the startup from failing?
- How does the startup want to be perceived?
- How does the startup define success and what will it take to get there?