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How to Create a Winning Startup Culture

Some time back, in my infographic on 51 Business Mistakes that most Entrepreneurs Make, I had outlined that one of the biggest mistakes is that you do not give any thought as to what you consider would be a great startup culture. And, without good policies or HR to keep things in check, the startup begins to develop a toxic business culture.

You will find this problem in businesses in Japan a lot. The Japanese culture is that people should work harder and if any employee goes home early, or finishes his work faster than the other, they usually get snitched on to their bosses by their co-workers. Since, you are growing a startup, you may want to avoid all these hullabaloo as time is limited and money is precious. Your workforce is your primary foundation and you want to build it strong as everything else you do is going to be supported by your employees.

Therefore, here is what you do to streamline the company’s functions and develop a strong and great company culture:

Step #1. What are the values that you hold dear and want to be reflected by your startup?

Yeah, you are the boss, you are the man of the show. Since you run the startup, you need it to reflect the type of entrepreneur you are and the entrepreneurial qualities you have as best as possible. That way, you can run it better!

So, ask yourself, what quality do you want for your startup to be its brand identity? It can be anything. For example – if you think hustle is the best quality of a startup (although, I disagree), it can be – “being the hardest worker in the room”, or if you want your employees to have a quality personal life, it can be something else.

Now, when you have landed on some values which you hold dear, make sure everybody in your business knows it – the employees, your partners, the directors and even the janitors!

Step #2. Make Sure Employees (Both Present and Future) Reflect those Ideals

If all you look at when hiring employees is whether they have the requisite skills or not, then you could be doing a grave mistake. Studies have proven that employees who are not a cultural fit with your business shall not work their best.

Heck, they can even become toxic in nature and do more harm to your company culture than good. Suppose you have an open-door policy wherein any employee can talk to you directly; however a mid-level executive doesn’t want that and shouts at and harasses his juniors for going to you without passing through him first – what do you think is going to happen?

Your startup culture will be in-operational for just one worker and can hinder performance among all your employees. That’s why mistake #1 in my post on business mistakes showed that you need a good HR even if your business is new. An HR has relevant skills and expertise in hiring the best workers so that can be a breather for you and help your business focus on, where it is truly necessary.

Step #3. Make Sure Everyone’s Voice is Heard

In order to truly know whether every employee is resonating according to your business ideals, you have to make sure that the voice of employees at even the lowest level is heard. That way, you can be sure the startup culture has truly sunk in.

In order to create a culture that actually motivates the employees, you also have to make sure that they understand that their voice matters and that if they have any grievances to tell or advices to offer, it has a good chance to be acted upon.

Also, this step that is to make everybody’s voice heard should not be made only in a vertical direction that is only from down to the top; rather it should be made laterally. Colleagues should know what their teammates think and feel.

That way, it can promote good communication and the workplace is going to remain energized. You need to also support lateral feedback even if means you have to go above and out of what you should be doing.

Step #4. Give Feedback

Now, the above step will be quite redundant without this process in place. Your employees will stop saying what they feel if they believe that what they say will not be acted upon. Therefore, you have to be proactive in giving feedback to employees. Show them that their work counts and learn to motivate them. Hold interactive sessions, talk one-on-one with employees who have addressed their grievances to you and also share your thoughts on any input they have given.

That way, you actually know whether your company culture is striving or whether the employees have just put up a facade to please you. Now, an even more important point – there will always be some employees who go against the company culture or even rebel against them.

There are three ways to handle them which you must note and be careful of:

  1. Firstly, by providing gentle feedback about how you want things to be and remain in your business. This works against employees who unknowingly have strayed from the path and need just a gentle pat to return back on track. For example, if you have a company  culture on wearing formal attire and being extremely disciplined but you see a guy who is trying to break free, because he feels the clothes are very restrictive, you can guide him to a middle path.
  2. Secondly, by actively supporting him in his endeavour. You know, some people are really creative and can’t be bounded. While, it can do a lot of damage to your company culture, if you feel that the guy has got a lot to offer, you can let him be a wild horse. This usually applies to some very creative overachievers. These guys are usually rebels and if they don’t actually harm the way other employees do their work, it is best to keep them and encourage their habits! Seems rather odd, right!?
  3. Lastly, by firing him. Some people just poison the company culture. Toxic employees who are constantly fighting their peers or are late in finishing their work almost always need to be eradicated or else you risk the chance of demotivating your other employees.

While, it looks rather simple, it is the simple things that have the most effectiveness. Executing these principles at your startup can be the separating factor from just a startup and a startup with a workforce who are optimized to win!

By:

Source: How to Create a Winning Startup Culture

 

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It’s Alive! Facebook’s Surprising Video Standout Is A Horror Movie Startup

Like a proud parent, Jack Davis has covered the refrigerator in his Wilshire Boulevard office with artwork. But these aren’t crayon-drawn stick figures of Mom and Dad. They’re the stuff of nightmares—a demonic entity with shark teeth, a cannibal with thorns sprouting from his head, a tree that likes to disembowel its victims.

The gruesome creatures crawled out of the imagination of Davis’ Crypt TV, a digital studio that aspires to become the Marvel of monsters for mobile. Davis, 27, has raised $11 million from investors including Hollywood producer Jason Blum (Us, Ma), media mogul Shari Redstone’s Advancit Capital, Huffington Post cofounder Kenneth Lerer and NBCUniversal. The four-year-old Los Angeles studio, which creates horror videos for social networks, is on track to bring in about $20 million in revenue this year through production deals, running ads for films like Crawl and selling merchandise.

When he started, “no one was doing scary for mobile,” Davis says. That signaled a missed opportunity. “This is a huge genre. It has a solid fan base, and scary movies are very, very big.”

The Golden Age of streaming has birthed Netflix competitors that cater to nearly every genre, from U.K. shows on Britbox to anime on Crunchyroll and, yes, horror on Shudder and Screambox. At the same time, studios like Elisabeth Murdoch’s Vertical Networks have built audiences that are reached primarily through mobile-first social networks such as Snapchat and Instagram, which more than a billion people visit each month.

Davis and Crypt TV cofounder Eli Roth, the film director and producer who developed Netflix’s first horror series, Hemlock Grove, bet that an audience who loved films like Jordan Peele’s Oscar-nominated Get Out would snap up suspense and horror on the small screen, too.

It’s an intuition that’s paying off. Crypt TV said on Friday that it had reached a deal with Facebook to develop five series exclusively for Facebook Watch, its on-demand video service. The deal extends a partnership started in 2018, when Facebook green-lighted a 15-episode series based on Crypt’s short film The Birch.

Facebook has been paying as much as $25 million for these original shows, though the bulk of them cost $3 to $5 million, according to a person familiar with the matter. Forbes estimates the new Crypt TV deal is valued at less than $20 million. Neither party would disclose the terms of the partnership.

Facebook might seem an unlikely place to screen monster movies for Generation Z and younger Millennials, who make up nearly half of Crypt TV’s audience. One Pew Research Center survey last year found that the world’s largest social network is no longer the most popular hangout for teens, a big drop from earlier in the decade. Plus, Facebook Watch has struggled to gain traction. A year after Facebook CEO Mark Zuckerberg launched Watch to better compete with Google’s YouTube and Snapchat’s Discover, only half of Facebook users had ever heard of it, says The Diffusion Group, a media research consultancy.

Still, momentum is gathering for shows that capitalize on the network’s power to amass communities to talk about shared interests—say, Jada Pinkett Smith’s talk show, Red Table Talk, or Sorry for Your Loss, a drama on grief starring Elizabeth Olsen. Facebook says more than 140 million people each day spend at least a minute viewing Watch videos.

“It’s very hard to say that a platform … (of) two-plus billion people on it doesn’t have young people on it,” says Matthew Henick, Facebook’s head of content planning and strategy. “What Crypt does incredibly well is—because they’re able to tell their stories through many different modes or, in this case, products—they’re able to find those audiences and pull them in.”

Crypt TV taps into a community that likes to be scared. Horror has been reeling in fans on the big screen: The genre brought in a record $1 billion in box office sales in 2017, according to Comscore.

Some fans want to get their goose bumps for free. Thanks to The Birch, which was viewed 26 million times on Facebook, the studio now has 9.75 million followers, or more than triple its YouTube audience. On Davis’ fridge hang mementos from fans. One shared a photo of her tattoo—it’s of the Look-see, a creature with no eyes and flesh that’s been stitched together.

“Young people have so much emotion,” Davis says. A scary story “provides an amazing, permissive structure to take on deep emotional issues.”

A fortuitous encounter at a dinner party hosted by his parents in West Los Angeles led to the creation of Crypt TV. Then a student at Duke University, Davis found himself sitting next to Roth and began reciting dialogue from Roth’s portrayal of the bat-wielding Nazi killer Donny Donowitz in Inglourious Basterds.

The conversation turned to Davis’ career plans. The sociology and political science major said he hoped to launch his own company, capitalizing on the dramatic shift in media viewing habits he’d observed during his four years in college. Roth had a suggestion.

“I said, ‘You know that audience that’s going to see horror movies now’—because obviously now horror has exploded—‘They’re all on their phones,’” Roth recalls. “What is the next generation of characters? Who is creating the new Freddy Krueger? Is there a way to launch a Freddy? A Jason? A Michael Myers? A Chucky? Just on your phone?”

Roth introduced him to Blum, who became Crypt TV’s earliest investor and served as a mentor to the company’s 23-year-old founder.

An early success was #6SecondScare, an October 2014 online competition that encouraged users of Vine, Twitter’s six-second video service, to upload their scariest videos.

Roth lent his name to the contest and coaxed Hollywood celebrities including Quentin Tarantino and High School Musical’s Vanessa Hudgens to promote it and serve as judges. #6SecondScare attracted 20,000 submissions and ended up featured on ABC’s Good Morning America.

In the summer of 2015, Davis’ team launched Snapchat Murder Mystery, a show that gathered ten social media influencers to a mansion party, then killed off their characters in an Agatha Christie-styled whodunit. A year later came Crypt TV’s breakthrough moment with The Birch. The four-minute video follows a terrified schoolboy who summons an ancient being in the woods to dispense a particularly bloody form of retribution on the boy’s tormentor.

Davis faces his own monster lurking in the dark: Quibi. The mobile video subscription service comes with a Hollywood pedigree, a $1 billion cash horde and some of the best-known filmmakers in horror, Guillermo del Toro (The Shape of Water, Pan’s Labyrinth) and Sam Raimi (Evil Dead), as well as Blum, producing original content.

Quibi launches in April—though Crypt TV, in classic horror film fashion, has gotten a running start.

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I’m a Los Angeles-based senior editor for Forbes, writing about the companies and people behind the biggest disruption in entertainment since cable TV: streaming video

Source: It’s Alive! Facebook’s Surprising Video Standout Is A Horror Movie Startup

It’s Not About Ideas. Do What Amazon, Netflix, Uber And AirBnb Did, Head For A Blue Ocean

In this July 1, 2014 photo, Dollar Shave Club CEO and co-founder Michael Dubin poses for photos at the company's headquarters in Venice, Calif.  (AP Photo/Jae C. Hong)

If you want to become an entrepreneur but don’t know where to start, relax. It’s not about ideas, it’s about understanding and researching current industries that have not innovated their products or services and have a large customer market. If you think about what Netflix, Amazon, Uber and AirBnb did, you can clearly see, they created nothing new in terms of products. So, what did they do? They changed the “game” in an industry that was not being innovative and was ripe for disruption. In other words, they headed for a “blue ocean” made famous by management thought leaders W. Chan Kim and Renee Mauborgne in their perennial bestseller, Blue Ocean Strategy.

Blue Ocean Strategy is an approach that challenges everything that you thought you knew about the requirements for entrepreneurial success. Blue Ocean Strategy can be summarized in a nutshell: the best way to beat the competition is to make the competition irrelevant. Imagine that the marketplace is comprised of two sorts of oceans: red oceans and blue oceans.

To discover an elusive blue ocean, Kim and Mauborgne recommend that businesses consider what they call the Four Actions Framework to reconstruct buyer value elements in crafting a new innovation wave. The framework poses four key questions:

  • Raise: What factors should be raised well above the industry’s standard?
  • Reduce: What factors were a result of competing against other industries and can be reduced?
  • Eliminate: Which factors that the industry has long competed on should be eliminated?
  • Create: Which factors should be created that the industry has never offered?

If you think about it, lets review what these market leaders did with Blue Ocean Strategy in mind. Amazon did not build bookstores but built an enterprise infrastructure to have access to one million book titles and competed well with Borders and Barnes & Noble. Netflix did not use stores in their business model to compete with Blockbuster; instead they focused on customer service. Uber did not even try to buy cars and compete with the independent taxi companies, they created a mobile app. AirBnb does not own homes or hotels, instead they redefined the travel experience by uniting existing property owners onto a common easy-to-use platform.

Uber CEO Dara Khosrowshahi, third from left, takes a photograph as he attends the opening bell ceremony at the New York Stock Exchange, as his company makes its initial public offering, Friday, May 10, 2019. (AP Photo/Richard Drew)

Uber CEO Dara Khosrowshahi, third from left, takes a photograph as he attends the opening bell ceremony at the New York Stock Exchange, as his company makes its initial public offering, Friday, May 10, 2019. (AP Photo/Richard Drew)

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Existing marketplaces with lots of competitors live in crowded, shark-ridden red oceans. Red oceans are characterized by multiple firms offering similar products competing mostly on price. Think Target versus Wal-Mart, Sony versus Samsung.  Meanwhile, blue oceans are characterized by untapped market space, demand creation, and the opportunity for highly profitable growth.

In recent years, Dollar Shave Club took on Gillette by offering subscription-based access to razors at a better cost and service. As a potential entrepreneur, just examine large industries or product lines and see if customers are happy with their current choices. Wherever you find customers are not ecstatic, dig deeper. A few years back, Chobani did the same thing to yogurt by offering Greek yogurt, more protein and less sugar. None of these examples showcase a completely new, never heard of before product. But all these companies either innovated the current product in the marketplace or they offered a simple innovation or twist to the business model for their company. In almost every case, the customer is happier with the new company or product. That means they were dissatisfied before these companies came along.

If you want to get a jumpstart on surfacing an opportunity, pay attention to something new you see (craft beer, organic pet food, cloud storage, etc.) and do some research.  Or go to places where you can observe people: malls, airports, universities and just walk around. See what people are doing and not doing. Don’t look for anything in particular, just observe. Another option is to walk through Target or Wal-Mart and slowly walk up and down the aisles. Look for current products that seem over priced or they don’t exactly make the customer ecstatic. Then research how big that industry category actually is. If it’s billions, keep going. Run a few of your best “opportunities” through the Blue Ocean Strategy framework of raise, reduce, eliminate and create.

The founders of Skullcandy did something similar by walking through Target to spot their earphone opportunity. If you want to be an entrepreneur, you have to solve a problem in a big marketplace. To spot a problem, go looking. Once you find some problems, use Blue Ocean Strategy to innovate a solution and perhaps you will create a billion dollar company.

You can read more about what Bernhard has to say on his website and follow him here on his Linked In

I am the Director at the Lavin Entrepreneurship Center, San Diego State University. I oversee all of the center’s undergraduate and graduate experiential programs.

Source: It’s Not About Ideas. Do What Amazon, Netflix, Uber And AirBnb Did, Head For A Blue Ocean.

CoinMarketCap Crypto Assets Now Feature Flipside Letter Grades

Blockchain analytics startup Flipside Crypto is bringing crypto asset letter grades to a slew of online publishers. The Fundamental Crypto Asset Score (FCAS) metric – which evaluates factors such as developer activity and a broad set of transaction data – was recently added to CoinMarketCap, along with publishers such as MarketWatch, TheStreet and Stocktwits. The move comes ahead of the launch of CoinMarketCap’s first Android app, scheduled for April. Carylyne Chan, head of global marketing at CoinMarketCap, told CoinDesk these easy-to-use metrics will give users a more transparent view of how these assets are evolving. According to Chan, the site attracted 125 million repeat visitors in 2018 alone……

Source: CoinMarketCap Crypto Assets Now Feature Flipside Letter Grades

Digital Asset’s Europe Head Is Latest to Leave Enterprise Blockchain Startup

Digital Asset’s Europe Head Is Latest to Leave Enterprise Blockchain Startup https://www.pivot.one/share/post/5c83be7cad59e73fb550415c?uid=5bd49f297d5fe7538e6111b6&invite_code=JTOJYV

Alena Vranova, the head of strategy at Casa Inc., a New York-based startup

Alena Vranova, the head of strategy at Casa Inc., a New York-based startup that helps consumers securely store cryptocurrencies, recently shared her views and insights with CryptoGlobe.Vranova, is the founder and former CEO of SatoshiLabs, a company that developed TREZOR… https://www.pivot.one/share/post/5c82ad31595ce76ee505b77f?uid=5bd49f297d5fe7538e6111b6&invite_code=JTOJYV

Zuckerberg’s Big Hopes, a new Huawei sting, VPN truths, a five-year bet on Bitcoin, the Captcha puzzle, and more — The Overspill: when there’s more that I want to say

Afraid so: the machines are now able to beat us at this game too. CC-licensed photo by Chris on Flickr. Ahead of No. 1,000, send in your three favourite links – leave a comment, email or DM me. Popular so far: Why drowning doesn’t look like drowning (May 2018); why I hope we don’t find […]

via Start Up No.996: Zuckerberg’s big hopes, a new Huawei sting, VPN truths, a five-year bet on Bitcoin, the Captcha puzzle, and more — The Overspill: when there’s more that I want to say

Columbia University, IBM Launch Two Accelerator Programs for Blockchain Enterprises – Marie Huillet

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IBM and Columbia University have announced two blockchain accelerator programs that aim to help startups in the space innovate at scale, according to an IBM news release Nov. 19. Both programs form part of the Columbia-IBM Center for Blockchain and Data Transparency, a joint innovation center that was established by the tech giant and U.S. ivy league school this summer. According to the release, each program will support ten startups, offering them a network of business mentors, technical support, access to Columbia’s student talent and “research community,” design assistance, and IBM cloud technology resources………….

Read more: https://cointelegraph.com/news/columbia-university-ibm-launch-two-accelerator-programs-for-blockchain-enterprises

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Healthcare Startups Have Raised More This Year Than in 2012 And 2013 Combined – Michela Tindera

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With two months left in 2018, healthcare startups have already raised more in VC funding this year than they did in all of 2012 and 2013 combined, according to an analysis conducted for Forbes by Pitchbook. Venture capitalists have poured more than $26 billion into health startups this year. In 2012 and 2013 combined, the sector raised $22.3 billion in 12 months. So far this year that $26.3 billion has been spread among 1,540 deals, which is slightly less than half the 3,103 deals that took place in 2012 and 2013………

Read more: https://www.forbes.com/sites/michelatindera/2018/11/02/healthcare-startups-have-raised-more-this-year-than-in-2012-and-2013-combined/#521a6b867ac7

 

 

 

 

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Swiss Startup Aims To Help Paralyzed People Walk – Matthew Herper

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A group of scientists associated with GTX Medical, a Swiss medical device firm, published new evidence yesterday that using electricity to stimulate the spinal cord can help paralyzed people regain some walking ability. The new results, published yesterday in Nature and its sister journal Nature Neuroscience, show that using patterns of electrical stimulation allowed three men to regain the ability to walk with training. Unlike previous studies published in Nature Medicine and The New England Journal of Medicine, which used continuous electrical signals, not pulses, two of the men maintained the ability to walk even when the stimulation device was turned off……..

Read more: https://www.forbes.com/sites/matthewherper/2018/11/01/swiss-startup-aims-to-help-paralyzed-people-walk/#75cb0e4a7557

 

 

 

 

 

 

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