Hi there folks! Are you looking forward to the weekend? Well, I sure am! This is my first Tea Talk article and I couldn’t be more delighted. :) While I was thinking about what to write, I thought about the most important things today. Only one thing came to my mind. Startups. When you hear the word “startups”, what comes to your mind? ‘Long way to go’? or ‘They just started their journey?’ But the situation is not the same anymore. It’s true that no one knows what’s going to happen over the next few years or the next decade, but it is predicted that startups are going to run the world. According to Kauffman Foundation, startups are rising ever higher in terms of revenue as well as reputation since 2015 and influencing our daily lives to a huge extent. Also read: [e27 Tea Talk]: Things I learnt from the startup ecosystem Don’t believe me? Take Grab as an example. Grab has managed to bring changes to the way people live and still continues to do so. For instance, their services now include grabfamily, cycle, shuttle plus, hitch, and rental services. They are also diversifying their services beyond transportation now. In fact, people are now purchasing grabcessories and GrabGifts. Despite the costs involved, Grab has managed to keep a high gross revenue. Additionally, they has improved their application and even now, they plan on developing by bringing diversity to their team and improving their performance review system. Startups in general are different from other companies. Startups base their focus mainly on flexibility and creativity as opposed to corporates which traditionally run on long and tedious processes. Today, established companies turn to startups for ideas in easing their processes and integrating new technologies, which has led to the creation of venture capital companies and corporate innovation. Also read: [e27 Tea Talk]: How to be a successful startup community builder But more than the creative ideas, it’s also the tools adopted and developed that make startups very successful. There are several project management tools which help to create individual workspaces and fill them with projects and tasks. Additionally, the tools are very diverse in digital marketing, HR, and in data analysis. This allows for clear communication and easy exchange of ideas within different functions. The tools, focus and people make the startups grow. It is worthwhile to mention that people working in startups are usually creative and fast in seeing if the tools work for them. In other words, they are agile. So the next time you come across a startup, keep in mind that in the next few years, it’s just going to get bigger and bigger. Because they value their creativity and integrity more than the paycheck and believe that big things can be achieved with a small team, they have the ability to change the world! – e27 Tea Talk is the column managed by Tracy and e27 Business Development Team. We hope to see you join in on stimulating discussions and constructive feedback as we navigate through the startup journey together. :)
Startups are going to run the world!
Welcome to the e27 Tea Talk, where we talk about everything startup ecosystem.