Why it's more important than ever to remember what it means to be a startup

Running a “startup” is so hot right now. The term has become a buzzword associated with visions of cash, fame, freedom and unrivaled success. When people think startup, they see flashy offices with the latest technology, crammed with colourful beanbags and craft beer on tap, but this couldn’t be further from the truth.

Australian founders can’t lose sight of what it means to be a startup (no doubt inspired by Silicon Valley). There’s a misconception that to be successful you need huge budgets and the coolest office on the block.

When building a startup, you can’t expect to go from idea to Google in a week. Having a slippery slide in your office won’t make you the next Eventbrite. Perks need to be earned and even then, it’s important to think about how they’re actually going to contribute to your business and its growth.

Whilst capital is relatively easier to come by these days, founders need discipline and focus when it comes to spending it. If you can’t be responsible with money, you probably shouldn’t be running a business.

If Australia is serious about building a strong startup ecosystem, we need to stop sugar-coating and glamourising startups because all we’re doing is setting unrealistic expectations. Instead of romanticising the concept of the “ideas boom”, we need to strip back the layers, get back to basics and teach Aussies how to build sticky, scalable, and profitable businesses. Read more

Rob Hango-Zada - Business Insider Australia - 6 Jun 2017

Comments

We welcome relevant, respectful comments.
Please read our Comment Policy before commenting.
We also welcome direct feedback via Contact Us.
You may also want to ask our librarians.

Be the first to write a comment