Published on June 3rd, 2014 | by Jose Vasquez0
4 Forms of Limited Thinking to Avoid in Startup Tech Companies
Limited thinking can blind you to potential new opportunities for growth, so avoid it by keeping an open mind.
At the core of every successful startup tech company is a central and positive philosophy, or a style of thinking that poises entrepreneurs and their teams for success. While every startup is going to have a different approach, there are certain styles of thinking that are more beneficial than others.
- Focusing on the long-term future. Let me clarify: long-term thinking is extremely important. Thinking about nothing other than the long term can get you into trouble. As a young startup company, you need to worry about how you’re going to get enough revenue to stay afloat long enough to get to those big decisions—so make sure you’re making long-term and short-term strategic choices.
- Preying on the competition. You should watch your competitors closely and learn from what they do, but don’t make your entire business model based on the actions or inactions of your competitors. If people see you as nothing more than a response or counterpoint to what already exists, your relevance significantly declines.
- Following one source of advice. Mentors and investors are great sources of information that can lead you in a strong direction or help you solve some great puzzle that is perplexing you. But don’t let yourself blindly follow any one source of advice. The key to building a strong and sustainable style of thinking is to diversify. Read a lot and talk to a lot of people, but don’t narrow yourself.
- Ignoring your team. Startup companies don’t develop through the efforts of one person alone. You are a team leader, responsible for directing your team and leading them in the direction you need them to go. But that doesn’t mean you are the only one who matters in the company, or that you’re the only one with good ideas. Listen to what your teammates have to say—they can be a source of terrific insight.
These forms of limited thinking are some of the most common, and the most destructive for startup companies to adopt. Stay open minded, always diversify your sources of information, and expand your horizons as a business.
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