Dec 17
2020
The Three P’s and Two S’s For Any Successful Startup
By Tim Heger, CTO and CISO, HealthBridge.
The success of any technology startup begins with a solid foundation made up of the three P’s and two S’s. The three P’s are people, process, and partnerships.
The three P’s are supported and enabled by the two S’s – security and scalability. To understand how the P and S elements work together to create that solid foundation for a successful startup, here’s an outline on the benefits of each:
The Three P’s
People – You can have all the processes, partners, security, scalability and synergy but if you have the wrong people it can mean the difference between fast success and fast failure. Be uncompromising on those first dozen or so hires. Not only do they have to be a great technical fit but they have to be someone you can work with who also brings a shared value-system to the company. In industries as competitive as technology, some qualities should include an unflappable nature, resourcefulness, innovative vision, and the ability to bring creative solutions to the table. The flexible nature of the team as a whole is critical to the success of a startup and you will be spending more time with this immediate team than anyone in your life for the foreseeable future, so choose wisely.
Process – At the start you need to begin defining and implementing the right processes to emulate how your business will run post startup phase. Establishing and implementing specific tasks and workflows will be a fluid process until you get up and running. You may have to pivot until you determine the flow that works best for your team. If you want to avoid a killer headache don’t wait till later to try to adopt the proper structure when things really start to take off. You’ll be able to identify the scope and limitations of the business sooner if you implement processes early on and will learn when it’s time to make a change.
Partnerships – Choosing the right partnerships to help your startup grow successfully can be a challenge. Knowing which technology partner your business needs to scale is critical. Your potential partner should have the experience and expertise in the areas that are important to your organization.
Likewise, try to find a partner whose vision is aligned with yours. Because of the uncertain nature of early-stage startups, it is not uncommon for there to be a lot of anxiety among partners and staff. Transparency and clarity among members is critical to your success, and this includes regular communication. Continuing to provide one another with feedback on milestones and deadlines will create the positive and nurturing environment required for a successful startup.