As we welcomed 2018, have you already thought about your new year’s resolutions? Personal goals to make you happier and healthier or you might want to improve your work-life balance? As a startup, spending your time efficiently means you need to be more innovative and set your priorities straight. So, at the first Scale-Up Academy of #AIA18 we asked the attending startups about their New Year’s resolutions. These conversations lead to the following ones:
The absolute number one startup New Year’s resolution is to ‘grow’. They all have their own parameters on how to grow: in capacity, revenue or to improve processes.
When startups have finalized their product or service, they are ready to expand and ‘go international’.
“We want to grow and expand internationally. We have made some major adjustments as we encountered some difficulties in the past year. We partnered up with Airbnb in 2017 and this is a valuable addition to our new business model. We are ready to launch outside of the Netherlands. – Bhupinder Singh | Pelican.ai
IMPROVE THE PRODUCT / SERVICE
The customer expects the best, up-to-date and relevant product or service. Startups need to be aware of all these trends and apply this.
LAUNCH NEW PRODUCT
Due to the rapid evolution of innovation, companies need to ‘rotate to the new’. Launching new products to expand their portfolio is therefore a common New Year’s resolution.
COLLABORATION AND PARTNERSHIPS
Startups highlighted the importance of collaborations and partnerships with corporates and other startups and organizations to increase their knowledge.
“We are going to cooperate more with the academic field.” – Kees Jan Meerman | Stellar Data Recovery
“We are a fairly new startup, as we only started last year, so we want to grow in 2018. Besides that, we also want to establish long-term partnerships with corporates and other startups. Our goal is to have real meaningful cooperation with these companies.” – Melissa Wovotny | Sea Going Green
Pabbl founder Bas Gerritsen touched upon this very important matter during his 10-minute pitch: you need to focus on one or just a few things at a time, because you can’t outshine in everything. Distraction is around the corner, so keep it simple and focus on the core business.
Bas Gerritsen (Pabbl) shared his five tips and lessons: “Focus, hire the right people, user is king, delegate and mind your own health.”
Where are you without proper funding? A common denominator for startups is that they need investments to fund their growth. But the question is: how?
EXPAND THE TEAM
A developing business will not only grow in revenue, but also in workload. For this reason, is it important to have a sufficient workforce available to get the job done.
While most attendees all shared their own resolutions to become more successful. Matthijs Kat from BrainsFirst highlighted an interesting point of view on New Year’s resolutions in general:
“January 1st is just a moment, and why postpone tackling certain challenges instead of facing them right away, right?”
The Accenture Innovation Awards team also has a New Year’s resolution, as Pieter Paul van Oerle describes: “Startups have our focus and we would like to assist them as good as we can with our expertise, knowledge and network. For this reason, we organize a scale-up academy every month.”
The next Scale Up academy is February 13th about Leadership. You can apply via the Scale Up Academy website.