Many tech startup employees are sold on the idea that they are the next big thing. Unfortunately, they often fail to take the needs of investors into account when creating their pitch and planning their initial presentations to potential buyers or investors. Let’s look at the four crucial mistakes people make when they pitch their tech startups.
Valuation is always a big step to take for a startup. Whether you’re trying to get angel investors onboard or you want to take out a bank loan to further develop your ideas into products, you need to be able to value your business at its present state. Unfortunately, valuation can be tricky, especially if you have no knowledge of the subject. A lot of startup owners and CFOs actually choose to pursue a master degree in finance online from top names such as Northeastern University to better understand the basics of valuation and acquire the necessary skills to perform one.
Employee engagement has been and continues to be de rigueur within business at present. Most companies have now gotten smart to the fact that employee engagement means profitability for the business. Furthermore, an engaged employee, by extension, is a happy and generally loyal employee, meaning turnover is reduced and initial training is also minimized, adding to further increases in profit. It’s a win-win situation for both employer and employee alike.
But with rapid developments in business models and management structures, how we recognize and measure employment engagement is becoming increasingly varied. Engagement has never been an exact science and needs to adapt to the changes in business large and small.
Below is a selection of emerging trends in employee engagement that are likely to be used more and more through many industries over the next few years.
Gone are the days of the managerial dictator. Reports indicate that inspirational managers have a tendency to produce engaged employees. As a result, leadership development is far more focused on producing ‘authentic’ managers who are ever present, lead with integrity and show empathy to their workforce. The stick is no longer an effective tool in contemporary leadership for while work may be completed, engagement in tasks will be down due to resentment from the employee.
2. Increased Employee Feedback
Building on the presence of managers is frequent feedback. If managers are to be working more directly on ‘the shop floor’ then they need to be offering effective feedback to motivate and encourage greater engagement with tasks. The inspirational manager does not simply say hello and ‘is everything going okay?’ The inspirational manager offers critical feedback that points out both the strengths and weaknesses in an employee’s work.
This type of feedback is not offered as a token gesture at a predetermined meeting, but frequently and immediately, focusing on whatever aspect of work the employee is working on at that time. It gives the employee motivation and opportunity to focus on small part of their job and ensures engagement.
3. Engagement Outsourcing
As employee engagement becomes a greater focus for many companies both large and small, we have seen an increase in the number of companies and services available to help maximize engagement within the workforce. For example, insightlink.com is a company specializing in tailored surveys that enable companies to retrieve vital data from their employees. With expert consultation, you are guaranteed to know what you need to do in order to increase employee engagement.
4. Work/Life Balance
We no longer live in a world where jobs have to be carried out between the hours of nine to five. Office hours are a thing of the past, which means businesses are now in a position to become more flexible with the way in which their employees work. Giving your workers the opportunity to fit their job around their lives means that many will be able to work at a time that suits them. Thereby increasing commitment to the company and engagement in their work.
Business continues to change year after year, as does competition and demand, but the need for employees will always remain. By ensuring the engagement of your workforce you can guarantee that your business is far more likely to survive and flourish.
As businesses grow, they become more complicated. This is a simple fact of the business world, however if you don’t keep a constant eye on them, they can become needlessly complicated and will hinder the running of the enterprise or simply fail outright. If you start trimming away the fat, you will become a more efficient and profitable enterprise. It can be difficult trying to trouble shoot where you can simplify and what you can let go of, so I decided to compile a small list of the key areas where you can probably afford to simplify.
This is a really complicated question to answer. Unfortunately, there is no blueprint that anyone can follow. That is because of the fact that every single individual out there is unique. What works in one case is something that will not work in others. For instance, Charles Phillips is CEO of Infor. His leadership style is totally different than that of the CEO of Oracle. Adaptability and knowledge are needed and you have to understand what works in the situation you are in at the moment. With this in mind, becoming a top business leader has to be connected with the following facts.
Our country is a melting pot of different creeds, religions, ethnicities, and cultures. Throughout history, however, this melting pot has not been celebrated in positions of real leadership. African Americans in particular have been oppressed for so long that there have been very few reaching top positions of business and leadership. At the same time, however, African Americans today seem to be the most diverse when it comes to how they accrue wealth, and it seems that a change is finally coming. Let’s take a look at some of the most inspirational African American CEOs.
Chief Executive Officer – CEO – is the most coveted of all job titles, but also the one that is often the least understood. CEOs, contrary to popular belief, don’t just do what they want. They also aren’t magically competent, nor are they all powerful. Rather, according to Infor CEO Charles Phillips, the job of a CEO is about identifying the needs and desires of everybody: staff, customers, communities, investors, the law, and so on. Yes, a CEO can delegate a lot of their work, but some parts can only be done by them.
Male CEOs are always asked similar questions about their personal life. They get asked if they play golf, how they find time to work out, and what their favorite wine is, and so on. Never do they get asked how they manage to be a father and husband as well. Interestingly, they do get asked about their relationship with their own parents, but never about what it’s like to be a parent themselves.