The “startup mindset” is an innovative approach to running and scaling businesses. The startup mentality focuses on agile strategies that were typically fostered in small companies and adapted into a way of doing business. An approach large firms should aim to adopt to stay relevant in an ever-changing business environment.
Thanks in large part to disruptive companies like Airbnb, Uber and Facebook, the startup mindset is now part of the modern business lexicon. The aspect of a startup mentality that corporates should focus on are; creativity, agility, an appetite for risk, change and disruption.
While the startup mindset is often thought of as just another tech term, larger and more established corporates are taking advantage of this fast-paced mentality. The approach is based on building, measuring and learning. It is a feedback loop of information that allows a business to create and launch new and existing products in an efficient, scalable manner.
The feedback loop can be thought of in 3 steps;
Remaining relevant is a priority for most companies, but in a post-COVID-19 world, the need to adapt and scale quickly is a crucial part of business survival. This is how some of the top corporates are adapting and how you can too.