Creating a startup from scratch, is not simply having an execution plan – this world demands a high threshold for chaos. Where success is measured by growth and where perseverance is paramount.
But that’s the dream, right? To break out of the chains of large corporations in order to create something of your own, believing it will skyrocket your vision. However, the corporate world, specially for a startup, is quite violent; and only about 10% of startups are successful each year.
So, what does it take to survive the odds of failing?
Nobody sets out to create a company with an expiration date in mind. And, in an environment where only the fittest survive, you need strategic principles: mission ahead of profit.
This is how Enovate Upstream, made it through its first year, AND during a global pandemic. By accelerating the plan, adapting to change and creating a value framework aligned with society-first principles, not just financial triumph.
Execution is everything, and the synergy of a team with identical focus is vital to bring your ideas to life, execute new acts and evolve. However, finding suitable candidates that share your drive and your vision can be tricky. CEO, Camilo Mejía, calls it a “well paid off gamble” – choosing people from different backgrounds and industries that share a growth mentality. That push forward and help the company grow in leaps and bounds towards excellence.
Endurance for every company, especially for a startup, needs to go hand in hand with a core set of values that provide a sense of purpose throughout the entire organization. Granting guidance and clarity for the role to play in society, helping build superior products and services while avoiding ethical conundrums.
We have to keep in mind that success is short lived and expectations never end. Sustainability is the key player here, and one that requires consistent efforts. There needs to be a system of leadership that links to an adaptive capacity, which will increase the odds of survival, beyond just starting-up.