Head over to our on-demand library to view sessions from VB Transform 2023. Register Here
Many entrepreneurs dream of starting their own company so they can be their own boss, call the shots, get the
corner office nicest table in the co-working space. Turns out, being in charge is a lot harder than just ordering people around and having someone fetch your lattes. To make a startup successful, you have to encourage an atmosphere of constant innovation.
We asked these upcoming entrepreneurs for their best tips on how to be a boss boss.
Allow for change and spontaneity
Working hard to keep your company from becoming rigid helps keep innovation flowing. The longer you have a business, the easier it is not to try new things — such as payment systems or even where an afternoon meeting should be held. Changing things up every now and again because of suggestions from your team shows you care about keeping your workplace full of ideas.
Be hands off
Hire great people and give them responsibility. Avoid micro-managing in favor of letting your team surprise you with their creativity!
Budget for innovation
No one likes to ask for money, but when they have money as an available option, they are willing to go ahead and spend it on things they think will be worthwhile. As the boss, you can enable your team to take new ideas and develop them into profitable ventures. For example, tell them they can spend a few hundred dollars a month on any cool thing they wanted to.
Everyone, from the CEO to the intern to the secretary, should be pushed to always be thinking about how to make the business better. Reward those who speak up and demonstrate creative thinking. You never want someone in your office to be afraid to share their ideas. Foster that open environment where everyone has the confidence to speak up, and you’ll see innovation coming to the surface.
Innovation is driven by exposure to new ideas, people and work. One of the keys to being an innovation-driving startup leader is to encourage yourself and your employees to constantly learn.
Keep time for actually working
Especially in creative ventures, it’s easy to quickly outgrow being able to work on the cool projects that lead you to start the business in the first place — turning you into a cranky boss. It’s good for your team to see you getting your hands dirty, but it will also keep you in touch with what you really want to accomplish.
Empower your employees
Innovation starts with being encouraged to make choices. My employees are always responsible for their decisions, so they weigh them carefully, and when they don’t like the possibilities in front of them, they often find ways to do things differently. They feel empowered because their choices matter, and my company benefits from their perspective.
Promote and encourage an open workflow. If you have an open workflow and hire the right employees, it creates an environment where you trust your employees. If employees fill like they have freedom to be innovative, they will, and that starts with their working environment.
Opportunities knock softly
Listen carefully to yourself, your clients, your employees, and the media. You might hear something that will create new ideas to execute. People who care about your business will constantly give advice. Listen to them, write down ideas, and execute the ones you are passionate about. Not only will people feel empowered, but you will be seen as the one with great ideas by being a great listener.
Let people explore and make mistakes. Be good with failure — as long as there is learning in the end.
Rally a vision
Without any brand equity, your startup will likely field mediocre talent — unless you’re paying them too much or giving away all of your equity. But there is hope. Any team rallied around an articulated vision and stoked with sense of greater purpose can defy the impossible and achieve great things. Your job is to be a coach and a cheerleader in one, very inspiring personality.
Hire the right people
In my experience, it is much easier to find the people who match our company culture rather than try to learn a new company culture to match our people. As a leader, you have a set of inherent personality traits. Select people who gravitate to and respect those traits, and then build a team around them. The innovation-driving culture will come from the people, not from a preconceived plan.
The Young Entrepreneur Council (YEC), an invite-only nonprofit organization composed of the world’s most promising young entrepreneurs. The YEC promotes entrepreneurship as a solution to unemployment and underemployment and provides entrepreneurs with access to tools, mentorship, and resources that support each stage of their business’s development and growth.
I heart my boss art via ShutterStock
VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Discover our Briefings.