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HANDLE CO-FOUNDER’S EXIT SMOOTHLY BY SUITABLE REPLACEMENT CORPORATES HELP STARTUPS PITCH THEIR AGGRESSIVE PLANS OF HARD-DRIVEN’ATTITUDE

 
 
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HANDLE CO-FOUNDER’S EXIT SMOOTHLY BY SUITABLE REPLACEMENT CORPORATES HELP STARTUPS PITCH THEIR AGGRESSIVE PLANS OF HARD-DRIVEN’ATTITUDE
by System Administrator - Sunday, 27 May 2018, 9:56 PM
 

By: M.S.Yatnatti: Editor and Video Journalist Bengaluru: It's important is that the change in leadership is communicated clearly to the team and that a suitable replacement is appointed before co-founders exit is made . That's what Ravindra MK, co-founder of co-working space BHive, did last year when he decided to leave and join a real estate firm. According to reports When Walmart announced its acquisition of a majority stake in Flipkart earlier this month, cofounder Sachin Bansal decided it was time to cash out. In a Facebook post to employees before leaving the company that he founded with Binny Bansal in 2007, he wrote: "Sadly my work here is done and after 10 years, it's time to hand over the baton and move on from Flipkart. But I'll be watching and cheering from the outside -- Flipsters, you better continue to do a good job!”.It's not just a question of saying goodbye, signing forms, transferring ownership and ensuring there are no legal tangles. A cofounder's exit can have a profound impact on the culture of the company and morale of its staff, many of whom would have put in late nights with the founding team. Irrespective of the size of the company, it's important for a founder to set out his vision for the company. This establishes the fundamentals of the workplace. "Then the best guy to do the job takes over,”

According to press reports Establishments ranging from banks and retail enterprises to real estate and technology firms are setting up focused accelerator programmes to benefit from the agility startups often bring in to older businesses."Accelerators are enablers for startups not just in terms of the business educational aspect but also to introduce them to the right network for mentorship, funding and future growth. "It is important for a startup to evaluate what kind of products these programmes are looking for and if the energy level and calibre of peers joining the programme need to match yours,”. ICICI Bank, says the bank follows three principles to rope in a startup. "What it brings to the table, the probability of its success, and whether it is solving a genuine problem,”.In conversation with CEOs and business leaders, one cannot help but be impressed with the strong drive for getting things done. Entrepreneurs have reportedly grown up admiring the corporate labels of 'aggression', 'hard-driven', 'fire in the belly' and 'failure is not an option'. These labels dovetail into a strong leadership competency called results orientation. Logically, it makes so much sense After all, the function of business is business!. The even better news is that contemporary talent engagement models, which have cracked this code, are now available. However, this will demand of business and HR leaders to take a hard and close look at their current understanding and practice of building employee engagement, and be open to changing track completely, if needed. According to press reports exercising twice a week may improve thinking ability and memory in people with Mild Cognitive Impairment (MCI), suggests a recent study. Researchers explained that people with MCI have milder symptoms like they struggle to complete complex tasks or have difficulty in understanding information they have read, whereas people with dementia have trouble with daily tasks, such as dressing, bathing and eating. MCI is a medical condition that is common with ageing. While it is linked to problems with thinking ability and memory, it is not the same as dementia. However, there is strong evidence that MCI can lead to dementia. Early action may keep memory problems from getting worse. "If you or others have noticed that you are forgetful and having trouble with complex tasks, you should see your doctor to be evaluated and not assume that it is just part of normal ageing,” Be your own boss .Create a startup and be your own boss .Let it be small or big be your own boss .A small seed can become big tree .You have to have passion commitment and good idea good networking skills .A start up need to have a well documented business plan investment strategy and including exit options to angel investors in the start itself aslater problem should noy crop up with founders. You should have good product and it should be in need and it should have better feature than other products. what is not working discontinue it .Scale it as demand grows .Do not ignore Marketing .Growth capital is very important but do not over raise the finance and hire good talent as an when it is required .Do not over pay as it will be very difficult to manage the start up.Time is everything .Be different find right investors and venture capitalists and not vulture capitalists. Raise money intelligently find the right people be sure and flexible .Do not ignore open source technology. Well documented code of conduct is very important for every employee.and directors of the startup.Well defined Information technology is one of the biggest mass employers. Be different startup .Find unsolved problems of customers and solve it, everybody has problems. Many have many problems .Few problems are universal. Few problems are local few are national and few are international .Find unsolved problems. Companies succeed because they solve and understand the unsolved problem and come up with solutions that are very different from what others do. Put yourself in the customer's position; perhaps you would have experienced a pain point yourself. You may not fully understand the difficulty unless you experience it yourself .Develop deep customer insights. Secret of your success is in Passion, determination, vision, agility, team play, fund-raising skills.