Startup companies have to do since the first day

I had the opportunity to participate in an IW invite successful entrepreneurs over the exchange. And over that was Grace, the former CEO of Potato, a very modest intellectual lady, Insead's MBA, and an undergraduate student at Peking University, along with two lovely children (as seen on the desktop of a computer) Grace really talked about what I really wanted to know most of the time. She said that from the first day of her start-up, she needed to pay attention to the construction of corporate culture. I am deeply convinced that in the early days of business, the CEO needs to grasp the following three aspects: 1, the product development should be agile, 2, customer validation (that is, we have to find a viable business model), these 2 fact You can learn by learning Lean Startup gradually grasp; 3, that is, corporate culture and internal processes (including recruitment), while the first three points in the silicon valley to say very much, there are many successful entrepreneur experience and perspectives, The third point is the need to slowly enlighten yourself in the business process.

Do you still remember the 13 things I wrote about the CEO of a start-up company in a week and the top ten rules that Reid Hoffman proposed? The post is here. Thirteen Things a Startup CEO Will Do vs the Ten Rules of Startups. Combining this article with Grace's presentations and conversations, you will find that many of the insights that these successful entrepreneurs and investors are talking about are truly interlinked.

The building of a startup company culture is a very important one in Reid Hoffman's ten rules of business.

Rule # 9: Pay close attention to culture and hires from the very beginning.

Your first hires set your culture, so make them good ones. These first people hire the next people and so on. The old a wise was that you you people with a decade more of experience in your start-up. a decade ago will not help you now - you're doing things that have never been done before, and the world and the competitive landscape are changing at hyper speeds. What you really need are people who can learn fast

There are two things that the CEO of a start-up company will do.

Remember that you need a great team - spend a lot, I mean a lot of time on top of the team, finding good people, more powerful people than you, and then finding ways to motivate them to pursue your dreams with you. Give them a lot of freedom so that they all have the chance to try the solution they think is possible. Entrepreneurship is not a job. It is a life attitude, so it is important for everyone in the team to love what you are doing.

Pay attention to the values ​​you distribute - think what the organizational culture is for you? Speed? The combination of art and technology? Digital orientation? Happy priority? Because every thing you do, every word you say, what the behavior is rewarded, What actions are reviewed, these will affect your company's values, and then spread from employees, shareholders to partners, so please pay attention to the meaning behind each of your actions, not just the actions themselves.

Let's summarize what Grace shares.

1. Startup to recruit what kind of early staff

a does not care about the working environment

b. Love to work overtime

c. can not tangle in the process

d. have a point of view, love to ask questions

e. Extremely user and market sensitive

f. Do not shirk responsibility

g. The appearance of the time is always on the scene to solve the problem

* tips If you hired an employee who was too tangled in salary and tangled in with these small issues for a long time, give up such an employee to join because he / she will continue tangling in the future.

So how to attract and hire good early staff?

Remember that hiring is not an HR department; @cxo takes time to interview; hiring is full responsibility; @ working with good headhunting (especially starting with big headhunters); And board resources

The most important: the same values, do business to start-up companies passion, I believe the company's vision, and founding team together

2. How to choose investors?

I was interacting with Grace at the scene, which is Grace's own understanding

Investor is a management mentor; operating resource; strategic partner; personal development of good friends

3. Budget, internal control, and gradually improve the financial sector

The smaller company also needs to make a budget, why? Grace gives four reasons

a budget is a good strategy to sort out the process

b can think twice before leaving

c is a reference, the basis for future assessment

d The budget is also the information that must be provided in the future financing.

Financial management is a clear indication that a startup team has made the transition to the company

tips: a Ask professional people to do financial and accounting treatment as soon as possible

b. cash flow statement the most important (cash flow statement)

c. Consider cash flow, foreign exchange effects, taxes, and investor exposure

d need to be flexible operation

e like the election of his wife as accounting firm selected (may follow you to the market, if you can do the listing :))

These are some of the 13 things that a startup CEO has to share with Grace

View figures - you probably have no revenue, so the figures here refer to growth data, set your KCI (Key Customer Index 3-5), and then track them weekly to understand why they grow, why did not grow . Send your analysis to the entire team so that everyone knows what they should pursue.

Manage cash - once a week, check your inventory level, what goes in and what money you spend. You have to know exactly how much time you have and immediately communicate with investors about capital increase.

Grace then talked about compliance, it is necessary to comply with some norms.

a company registered to choose

b laws and regulations

c Find out which department of the country you are managing your business

d need to focus on intellectual property

e. To maintain contact and communication with relevant state departments, and pay attention to improving relations.

Finally, Grace talked about the culture of start-up companies is a co-founder and even the CEO's personality zoom!

Specific questions to ask these questions: founders / CEO / CTO personality how? Have a personal charm?

Does the team share some common labels, what are the company's Vision and Mission?

I very much agree that the company culture that Grace mentions is an enlargement of the entrepreneurial team and even the CEO personality. Although I did not have any chance to communicate with the boss, I could feel that Huawei's culture is a total personal enlargement. The military's style, pay attention to executive power, pay attention to the strategy of war on the old Mao Tactics, good at doing all mobilization, good at self-criticism and organizational change. Huawei's success has his own reasons, but as to whether all accept it, it is more difficult.

I find it hard to accept the fact that I pay attention to the lack of individuality under the command. I am concerned about the lack of an equal and open atmosphere caused by Lao Mao's staff. Employees do not seem to be particularly happy

Finally Grace mentioned that as soon as possible to find the vision and mission of startups, I asked what is the meaning, in fact, vision is the company's vision and goals, and mission is how to achieve the goal.

I have been wondering what the final vision of this tourist site I started with tyr is. If 5 years and 10 years our company can exist, what value can we bring to the users?

Both tyr and I are fans of traveling abroad, and we have enough international exposure. We hope we can finally realize the dream of traveling around the world (I have been to more than a dozen countries, but my wish list is still long We believe this is a common dream for many people, especially when they are children. However, when they are grown up, are they being realistic, being held accountable and thoroughly breathing around the world? Good to go abroad.

But I believe Globalization will really be integrated globally with the rapid development of social networks and high technology. People in any country must look at the world. It is not just newspapers, television or the Internet that they must go out and experience different countries and cultures in person, so that they can engage with locals. This will bring cultural shock so that they can reflect on their own Life status and life trajectory.

So our vision is

The colorful world presented to your desktop and in order to encourage more people to chase kids dreams around the world.

we bring the colorful world to your desk and encourage you to chase your childhood dream of traveling around the world!

To achieve this vision, our mission is

1. introduce cities and attractions across the world; (even events and local residents)

2. ease the travel planning and try to eliminate the barrier of oversea travel

Get you connected with the people who share the similar travel interests

Why do people travel?

satisfy curiosity; take adventure; celebrate love

Why do people travel? You must have your own answer!

Alex Su

Co-founder & CEO at Toureet.com

[Start-up company culture needs to be started from the first day] What kind of early-stage employees need start-ups: 1, do not care about the work environment, 2, love overtime, 3, can not tangle in the process, 4, point of view, love to ask questions 5, extremely sensitive to users and the market, 6, not shirk its responsibility, 7, the appearance of the time is always on the scene to solve the problem, 8, the company's values ​​and mission recognition.