The Crucial Role Startups Play in Enterprises’ Digital Transformation Strategies

Large enterprises are renowned for their process-driven approach to achieving long-term business goals. As they are constantly searching for ways of staying ahead, large businesses have increasingly been looking towards startups, who have a special mentality. Enterprises are recognizing the need to mix the speed and agility that startups possess, with the scale and resources they already have in place. The symbiosis can lead to grand results — so much so that research by Gartner revealed that over 50% of corporations will be leveraging startup techniques by 2021.

What are the traits found among startups that enterprises should look to replicate and instill within their companies?

Strengthen Internal Communication

“Companies are built on communication. It’s not a company without it — just a bunch of people bumping into each other,” said Miika Kenttämies, Growth Marketer at Yousician.

Startups founders understand that the most essential components of their companies are its employees and that investing time to learn who they are, helps create a strong community that works towards one goal: success. A strong internal communication system can influence vital aspects of the business, such as the culture of the company, productivity of the team, and the overall performance and success of the company.

In order to increase overall communication among employees, get personal with them and learn their hobbies, traits, capabilities, and goals. Ask them questions, such as events in their lives that shaped who they are or their dreams for the future. This will help people open up and develop strong relationships, leading to increased internal communication. 

Be Disruptive

Startups are known for their forward-thinking ethos that promises to change the way we do things in the future. Just like they are for startups, disruption, innovation, and creativity are all equally vital for enterprises in successfully executing digital transformation strategies.

Enterprises are often faced with barriers that make innovating challenging, such as having to maintain a business process and please investors, as well as retaining their current customers and ensuring their happiness. Disruption is not just about being motivated to produce innovation, instead, it is about being able to set the trends, address changing consumer needs, and offer authentic solutions that address those needs.

Nurture a Collaborative Culture

Ken Blanchard, author of ‘Collaboration Begins with You,’ says that enterprises have a large barrier that affects their collaborative nature, or lack thereof, and that people and departments tend to hoard information and power in a top-down hierarchy. 

In his book, Blanchard states five keys for implementing and maintaining a collaborative and open culture that can help companies bring their team together to achieve a common goal:

1. Actively seek different points of view through a healthy debate where members focus on finding solutions on the issues without getting personal
2. Nurture safety and trust by appointing an accessible and dependable leader
3. Involve all members in crafting a clear purpose, values, and goals
4. Openly discuss and encourage people to express themselves and their opinions
5. Encourage people to take initiative and develop new skills

When Moving Forward, Don’t Forget to Look Back

Every company, at some point or another, was a startup. However, as a company grows in size, it often loses its entrepreneurial spirit it once possessed. I hope that this breakdown of key startup qualities will encourage leaders to take action and implement the startup mindset to successfully execute their digital transformation strategies. Remember, the past may be the past, but it has a lot to teach.

 

JenBwrites is a millennial, hoping to bring change in the way people perceive her generation, and believes millennials’ high affinity to technology and entrepreneurial spirit can transform industries – one startup at a time. She is currently building a development firm for AI and machine learning startups, where she plans to help guide and transform young companies into leading enterprises.