New IT Companies – How to get going?
It can be liberating and inspiring as well as intimidating to be a start-up company in Information Technology industry or we say Silicon Valley as the biggest impact maker and revenue generator companies are IT companies today. Be it Google, Microsoft, Facebook, Twitter, TCS or Infosys these are list of biggest earners and had been lifeline for every industry and sector.
For those who are new entrants or startups in IT, it is difficult to understand the social cues and how to conduct yourself. It is like walking on thin rope. IT industry has its own set of rules which needs to be taken care of.
Here are some rules to keep in your mind if you are looking for success in IT industry:
1. Keep yourself Grounded
The first rule is obvious your ego is the first thing you need to keep in check; especially after you have achieved little success. It will feel like you are on top of the world, but the truth is that there is long way ahead.
The industry has a very analytical environment and its culture and attempts for survival and hierarchy on basis of merit, however, with new success stories everyday it’s common that founders behave in boastful, arrogant and aggressive style – very few tolerate this behavior regardless of your accomplishment. There are lots of successful people in industry but those who work with little compassion and a lack of humility tend to get isolated.
Like any other industry, IT industry is also fueled by relationships. Everyone knows everyone in IT and Software development, whatever you do is under close scanner for a long period of time. No one speaks poorly of anyone in public, but everyone knows whom to call for references, so guard your reputation with your life. And closely examine your words and actions so that should work for you and not against you.
2. Asking Right Questions
Your social contacts or economic and social benefits of your relationship with people in industry can only be used to maximum advantage if you know what to ask. Sometimes while exploring new connects we look at what benefits can be extracted from that person or organization instead you should focus upon what you can learn from them or what value you can contribute to their life or routine.
People don’t like it when they are bombarded with requests by entrepreneurs asking for money, it can drift the potential investor from you. Instead discuss the idea and it will create interest of investor and eventually you land up having investment for your product or business idea. As Dave McClure has rightly said
“Ask for money, get advice… ask for advice, get money.”
3. Get Noticed
Getting noticed is most important part of start-up game. Most of the entrants don’t have the resources to go after their marketing with big firms, so it’s up to you to make sure that people know about your product or services.
The only way to get noticed for new businesses is to create as much noise as they can, whether it’s by hiring a big marketing firm or attaching your name with big venture capitalist firm.
For those who don’t have these kinds of resources, they can build solid platform of thought, leadership and industry networking. While you should be loud enough that people associate you with your business and know what you do.
4. Identifying Capabilities
For a new start-up company there is always a need for human resource which can fill the gaps with changing requirements of market. But hiring multi-tasking professional or big management player can be big ask for such organizations. So to identify the individuals who can add to the flexibility of organization. The organization needs to conduct weekly meetings asking opinion of employees on various matters, reviewing their opinions, maintain a record of employees who are consistent with good suggestions and picking them up. In short, identifying various capabilities of your employees which are different from the ones for which you have hired them. On the flipside for employees they will have a sense of participation in running of the organization, will make them feel much more connected.
5. Participation & Motivation
This idea may sound too simple and known to everyone but often one misses the simplest trick. Start-up doesn’t have fat salary packages to keep their employees motivated. Keeping a keen eye on small achievements of your employees and reward them for it by providing them gifts or make them recognized in office by declaring them employee of the month etc. are few steps which will increase the motivation and participation of employees. It will keep the competitive spirit alive and keep them charged to do better than their current performance. Such an environment can prove asset for organization especially for start-up.