You have survived a few years and you’re now in the lucky 20% of companies that are actually going somewhere. Congratulations! That is however, if you stay on the path of excellence.
When you’re growing your company, a good question to ask yourself is: “What would I need to document if I’d want to franchise this company?”. Looking at your company in this way enables you to systematize most simple actions in your company and start optimizing. When your team expands, you’ll have all materials ready to get new hires up to speed fast and easy, Even though many might not like it, McDonalds is the best example of a completely systematized company. A good resource is e-myth. Combine the skill of logging, documenting, and creating manuals, with an experimental startup spirit, and you’llhave a winning combination.
So now push comes to shove. What do you want and what is best for your company? The cliché way for a startup is to start small and then dominate the world. ome companies however, have reached their sweet spot at a certain size. They’re doing well in one particular market or geography, and best way to go for them, is to stay that way. For example competitors of Uber are best advised to stay strong to their local markets. There is nothing wrong with staying small; “small is beautiful”! You can run a tight ship, keep providing more value to your customers by improving on what you have, and keepyour employees, your customers, and yourself happy. A lot of hidden champions in Germany follow this approach: Steady client base, constant incremental innovation.
Equally you can try to go global and take over, become the next Uber, Facebook or Google. This approach will require a big portion of “no guts, no glory” mentality because you’ll have to take big risks and scale quickly. Be sure to get advice from seasoned business people. Running a company that goes from 10 to 500 people in a matter of months is something youdefinitely should get assistance on.
Many startups dream of being picked up by a Microsoft, Google or Facebook. It can also be a General Electric, a Siemens or a Samsung. Tough choice to make; either you grow a bit longer and cash out for a bigger price, or you take the offer now. Consider the terms under which you’re willing to exit and sell, and also consider for how long you’ll want to stick around to make your company grow. It’s a personal choice, and it’s yours to make.
I know I know. There are a lot of steps missing here, and an experience of years is simplified and narrowed down into 4 basic blog articles. This is just a teaser to get you and your startup on theway of becoming successfulr with a scientific mindset. Get reading and experimenting, take Lean startup and customer development as inspirations, check out what Zappos is doing in terms of organisations and have a look at the way in which SpaceX revolutionised space travel. Be daring in a rational way, and enjoy the Startup ride!
Want to know more about the EY start-up-challenge? You can read all about it on their website.
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In addition to the betahaus locations, we've formed a close relationship with some of the world's best coworking spaces. With your betahaus membership, you can work from any of our partner spaces for 1 day per month.
Republikken // Copenhagen, Denmark // Vesterbrogade 26, 1620 København V, Denmark
Le Laptop // Paris, France // 6 Rue Arthur Rozier, 75019 Paris, France
utopic_US // Madrid, Spain // Calle de la Colegiata, 9, 28012 Madrid, Spain
Nest 71 // Saravejo, Bosnia & Herzegovina // Milana Preloga 12, Sarajevo 71000, Bosnia & Herzegovina
Toolbox // Milan, Italy // Via Agostino da Montefeltro, 2, 10134 Torino, Italy
Edspace // London, England // Block D, Hackney Community College, Falkirk St, London, UK
Bios // Athens, Greece // Pireos 84, Athina 104 35, Greece
CoWorx // Kristiansand, Norway // Markens Gate 8, 4611 Kristiansand, Norway
CRU – Loja / Cowork // Porto, Portugal // Rua do Rosário 211, 4050-524 Porto, Portugal
SPARK // Mostar, Bosnia & Herzegovina // Bleiburških žrtava, Mostar 88000, Bosnia & Herzegovina
StartUp Armenia Foundation // Yerevan, Armenia // 0019, 1 Marshal Baghramyan Ave, Yerevan 0019, Armenia
Tøyen Startup Village // Oslo, Norway // Hagegata 23, 0653 Oslo, Norway
Smart Coworking // Prague, Czech Republic // Václavské nám. 806/62, 110 00 Nové Město, Czechia
Lighthouse // Tel Aviv, Israel // HaHaroshet 14-16 Ra'anana, Tel Aviv, Isreal
Fueled // New York City, USA // 11, 568 Broadway, FL 11, New York, NY 10012, United States **Maximum 3 Days
Capital Factory // Austin, USA // 701 Brazos St, Austin, TX 78701, United States
Público // Mexico City, Mexico // Puebla 403, Roma Nte., 06700 Ciudad de México, CDMX, Mexico
Area Tres // Buenos Aires, Argentina // El Salvador: El Salvador 5218, C1414BPV CABA, Buenos Aires, Argentina // Soho: Malabia 1720, C1414DMJ CABA, Buenos Aires, Argentina
HubBOG // Bogota, Colombia // Cl. 98 #18-71, Bogotá, Cundinamarca, Colombia
CIT // Taipei, Taiwan // 10452, Taiwan, Taipei City, Zhongshan District, 玉門街1號
Of10 // Mumbai, India // Prudential, Ground Floor, Hiranandani Gardens, Powai, Mumbai, Maharashtra 400076, India
Kibar // Jakarta, Indonesia // Jl. Prof. Moh. Yamin No.1, RT.7/RW.5, Menteng, Kota Jakarta Pusat, Daerah Khusus Ibukota Jakarta 10310, Indonesia
Midori.so // Tokyo, Japan // Midori.so Nakameguro: 3 Chome-3-11 Aobadai, Meguro-ku, Tōkyō-to 153-0042, Japan // Midori.so Nagatacho: 2 Chome-5 Hirakawachō, Chiyoda-ku, Tōkyō-to 102-0093 // Midori.so2: 3 Chome-13 Minamiaoyama, Minato-ku, Tōkyō-to 107-0062, Japan
Launchgarage Innovation Hub // Manila, Philippines // Level 2, Industria Mall, Circulo Verde, Calle Industria, Bagumbayan, Quezon City, 1110 Metro Manila, Philippines
Independent Studios // Melbourne, Australia // 39/40 Porter St, Prahran VIC 3181, Australia
Urban Station EGYPT // Cairo, Egypt // 2 Wadi El Nil Mohandeseen, Cairo, Egypt
Nairobi Garage // Nairobi, Kenya // Nairobi Garage, The Mirage, Chiromo Rd, Nairobi, Kenya
BONUS: Cowork & Relax at the Coliving Space, Coconat // Brandenburg, Germany // Klein Glien 25 14806 Bad Belzig, Germany // Get €10 off your stay
Toni: Currently, we’ve somehow ended up in this niche of building a lot of internal tools for startups and teams. But this is not the only thing we want to do. What I like about it is that we’re starting projects from scratch and we have full control over them.
Martin: The first project we worked on was a tool for a large scale real estate development company. What they needed was a tool for their Sales people - to be able to mark their different spots and locations at different stages of the sales funnel. So we created a tool that helps them in this process.
Toni: And this one actually served as a starting point for the tool we’ve developed for betahaus, which aims to allow the Sales and Management team to see which team rooms are occupied right now, which ones are free or will be occupied in a few weeks or months, so no double bookings appear.
Alex: These two projects were more focused on real estate, let’s say, but we’ve also done more design-heavy projects like the one we did for Artique which is an online artists agency. For them, we built a whole website and an online system to present their artists starting only from their logo. It had to be very flexible, because the artists needed to be able to edit their own profiles, putting their resume, changing colours.
Toni: Honestly, we have skillsets that you don’t usually find in developers. Because we've had lives that were not just about computer science. I think to some extent this is what makes us different.
Martin: I believe one of the reasons why people pick us over other studios is because it can be very hard working with developers. If you’re not understanding their work, if the communication is not flowing, you, as a client can feel lost. We're easy to communicate with and we’re always open to feedback and we're open to discuss anything. In the end, after all iterations, if you say we need to start the website from scratch and that you don’t like the idea, we won’t take it personally.
Alex: Also, I think, since we all work as coding teachers, we are officially qualified to explain what coding is to people who don't code, which is actually really rare because a lot of developers, as Martin says, don't want to, or literally just don't know how to articulate what they're doing. Whereas we are trained in articulating what it is that we're doing, why it's meaningful and why it takes a certain amount of time.
Alex: Zimt & Mehl - the Turkish bakery around the corner. It’s just soo good.
Martin: Oh, there is this Italian restaurant called Ristorante del Arte
Tony: Oh, my God, this place is so funny. It looks like a pretty average Italian restaurant, but the whole interior design inside is just decorated in such a weird way. The entire place is covered in frescoes. They have crystal chandeliers and Easter bunnies. Some Greek columns. It has a different name on the menu, on the side and on the Internet. And it was an ex-shoe-store.
Want to get in touch with Obst Digital? Come around betahaus | Neukölln and meet them here or send them an email to firstname.lastname@example.org !