What One Thing Can Ensure Your Startup Success?
You'll get a lot of advice when you start your company. Some people will tell you to focus on building your team. Others will tell you to focus on getting your go to market strategy right.
There's nothing wrong with that advice. But there's one thing you should focus on, above everything else, that will help ensure your success. I'll explain what that one thing and why it's important in this short video.
Read The Video Transcript Below:
When you've been around a lot of startups, you realize that some things are more important than others. But there's one thing that's really surprising that will be more determinant of your success than just about anything else. What is this one thing?
Well, let me tell you a few things that it's not. It's not going to be your MVP. Surprising. Yes, your MVP is really important. You got to get it right, but it's not that.
It's not going to be how well you execute. Yeah, execution is super important, but it's not that. It's not going to be the market that you choose or your go to market strategy. All of these things are really important. You've got to get them right.
But you know the one thing that is the most important, and this one's going to surprise you, it is your culture, your company culture, which starts with you by the way.
So super important here. It's you. So it starts with you. But if you get your culture right, everything else that you do as a startup CEO gets a lot, lot easier. So why is culture so important? Because culture, guess what? All those other things that I mentioned. Your go to market strategy, your execution, your MVP, the market that you choose. Culture influences all of it.
So if you get your culture right and by culture, the most important culture, the one that works right is something called the commitment culture. Stanford University did a study on this. You can Google this. And they found that the commitment culture, which is a collaborative culture between you and your team, is the one that outperforms all other company cultures by a huge margin.
In fact, every company that had a commitment culture in their study did not fail, but all other cultural types failed. Some of them, not all of them, but some of them. So you want to get it right, focus on your culture, get that right and you've got a great chance of building a successful startup. Bet that you weren't expecting to hear that. I'm Brett at brettjfox.com. Have a great, great day.