Break the rules on how to do business

Break the rules on how to do business

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Julia B. Austin believes that small changes in the way you do business inside and outside the company can help you attract bright employees and innovate.

by Julia B. Austin

Taking a risk by breaking with the standard way of working can
Your company more innovative. Credit: maxsattana
In addition to creating a new company that disturbs the status quo, many founders are also questioning old standards of how businesses create value. If you’re having trouble raising capital, hiring your business and expanding your business, do you have time and energy to rethink your business practices in general? To what extent do you want to distinguish yourself as a company by not only creating something spectacular, but also as a company that differentiates itself as an employer? In the end, it depends on whether these transformation efforts bring added value.

In 2012, the game company Valve published his novel Employee Handbook, which described the structure of his organization (or lack thereof). Valve criticized the idea of ​​projects assigned to the work or the managers. Many other companies have adopted similar approaches to not only be more efficient, but also to attract and retain talent by isolating their businesses from the public.

Regardless of whether the flatbed or self-managed projects work, these companies have challenged the standard of how companies should “operate”. One could argue that these attempts to be different distract attention and take time when the work just needs to be done. However, by trying to do something different, they not only attract new talent, but also encourage creativity and innovation in their organizations.

The transformation of your business does not always require a lot of time or distraction. Amplitude has challenged the way companies manage equity compensation by extending the company’s option windows for years compared to the standard 90-day window offered by most companies. Amplitude also helps employees understand the complexity of their stock plans by describing the possible scenarios and possible outcomes of their grants in detail.

The message is: A) You add value to this business and you should enjoy it in the future and B) We want to make sure we understand that value as an important member of our team. I imagine that neither window extensions nor transparency tactics need too much time or distraction (well, maybe the first ones were sold to their investors!), But they made this company an employer and an innovator.

Recently, eShares has expanded its game by changing the offer. CEO Henry Ward has decided that in warehouse management, they should be to help candidates and new employees understand what it means to have options in their business. There is more to do, because the offer letter clearly shows where a new employee will be in the organization and what their first week of work will be. They transformed the integration process by embarking on tenders rather than waiting for a new employee to sign and board. Maybe it’s an attempt at a self-fulfilling prophecy (if we talk to them about their first week, they’ll be more inclined to accept our offer!). do the same

Just because it’s always done forever does not mean it’s the best way to do business, and it certainly does not make you different from your competitors. Many entrepreneurs are getting advice from old-school investors and consultants who have found that it worked well in their day, but that does not mean it has to be done. If you choose a new approach, you do not do it to do it differently, because it enables your business to work more efficiently and / or create value for your employees or customers.

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