A couple of years ago, the Defence Ministry of India, decided to equip the armed forces with cutting-edge technology. So who could match their stringent requirements?
They decided to rely on startups.
They started a program ‘Innovations for Defence Excellence (iDEX)’ in April 2018. The army, navy and air force altogether came up with a list of 11 requirements to kick off iDEX under The Defence Innovation Organisation—a not-for-profit company formed by public sector undertakings.
As a result, startups like EyeROV Technologies evolved into its present form which makes underwater drones that will help the Navy in reconnaissance and repair. The drones swoop into waters too dangerous for divers, inspect what lies beneath, and report back in detail.
The rover can spot a crack in a dam 100 meters underwater or live stream corrosion in pipelines transporting oil. Data analytics and visualization help make timely decisions based on what the drones record.
Startups are performing miraculous functions to simplify critical jobs at present. In cutting-edge business environments too, they are assisting large scale Corporates in excelling in their arena.
But why are the leading organizations choosing startups over the established professional organizations in the first place, you might wonder?
Here are a few facts that might throw some light on this trend:
Startups tend to be more disciplined
Whatever it may seem from the outside, successful startups are more organized and disciplined than they might appear. They manage themselves within multiple limitations and add value to whatever is available to them. As they are conscious that time is their greatest resource, they are careful about using their time and respectful about others time too. If you have set them a specific timeline for a task, more often than not, you can be assured it will be done within the specified time.
In addition, there are a few other factors, which indicate their disciplined approach. From sticking to a business plan to absolute customer focus and disciplined hiring policy that assists in achieving startups their objective of creating value with the available funds rather than seeking more funds, we will note a neat sign of discipline in their entire functioning process.
Startups need to be more committed
Startups know that their survival depends on their performance. They are aware that unless they take their job seriously nobody else will. They have to make a mark with their work for the rest of the world to acknowledge. Which is why they have to be cent percent committed to every assignment they accept. That commitment is often reflected even in the minor assignments.
The members of a startup go the extra mile to understand your pain points and find a solution to it. They have the spirit to identify the practices that are beneficial to the process and have the ruthlessness to remove the ones that unnecessarily makes the process complex.
Startups can be more proactive
As a lean organization, the responsibilities of every member of a startup are more elaborate than the normal organizations. They are aware that to keep things moving, they need to be vigilant from their end. This keeps them on their toes to keep their clients informed and to extract the necessary feedback from their partners in due time.
Everyday they need to start with a clear cut plan and are ready to hand hold their clients to execute their plans. Their founding teams are objective about setting clear, precise, and forward-thinking goals that control the company’s trajectory, rather than letting others influence how time and energy is spent. They are pragmatic enough to seek customer feedback early on to have the buffer to set things right in case of any customer issues.
They never stop networking. There are urgent situations when assistance is needed in the form of an employee, investor, business partner or supplier. It helps to have existing relationships in place to deal with these situations. And startups not only understand that but thrive on it.
Startups are more adaptable and agile
Change is inevitable. To move ahead with time, it is essential to adapt to the changes around. Dealing with tough competition all around, every startup is aware of this fact. Due to their limited size and readiness to learn, every startup is adaptable to the changes around it. They will more often respond to any change as ‘Why not?’ rather than asking ‘Why?’
So due to reasons beyond your control you need to respond to any change, startups generally are best suited to take control in unpredictable situations.
Entrepreneurs are self-confident beings
Every entrepreneur translates an idea into a startup keeping in mind that he or she has to overcome all the challenges that come in the way of their vision. Most of the time they are on a journey with no charted road maps. Naturally, entrepreneurs are more confident beings than average executives. Entrepreneurs are also hard-pressed to be more inventive in finding unique solutions to challenges that pop up every now and then.
Entrepreneurs become better prepared to face eventualities because of the unique challenges that they face.
Startup teams tend to be more tech Savvy
Most of the startups generally are young bunch of professionals brimming with youthful energy. Even the elder members in a startup are youthful and refreshing in the way they perceive. Younger teams in general tend to more in tunes with the latest trends in technology sweeping the world. So there is a fair chance you will be with a more tech savvy team with a startup as your partner.
Startups thrive on innovation
Due to the nature of the challenges they face in their job, startups have to be more innovative in their every approach. They might not have a set pattern in accomplishing their tasks and might have to follow every means possible to get things done. Living on this kind of edge builds innovation as part of startup DNA. As a result, they often suggest more efficient solutions to challenges than the conventional organizations.
Startups take lesser turnaround time
Due to the less complex corporate procedures, startups have the advantage of being far more responsive than the conventional organizations. They are quick to respond and fast to inform. They need to deal with simpler processes and advance project management tools. And top of that, they need to go through smaller hierarchy and smaller team. All of this helps in reducing turn around time taken by startups in their day-to-day work.
Startup management takes personal interest in your business needs
Startups are great observers. They are quick to pinpoint any deficiencies that is hampering your business. They are critically observant of the same in their own business too as they are constantly in a growing stage. We can say that startups tend to be in a constant state of flux. Which helps them to keep their guards on at all the times. They are fast to find ways to improve things an find better solutions. Startups by design need to be solution-oriented in their way of doing things.
Startups are cost effective
Startups provide quality service in competitive budget in the face of rising above their competition. They need to satisfy you with their services in a more reasonable cost than those top ranked companies. Startups are also frugal in their operations, at least in the initial periods. This enables them to offer quality services at a reasonable cost and share the benefits with their clients.
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