TRUSTFALL: 3 ways to build your company around trust

Trust is arguably the most valuable business commodity. It takes time to earn and only seconds to loose. Transparency in the way you work is one of the most important aspects of business and ultimately leads to failure if not done properly. Why? When trust is earned in your business, relationships flourish and opportunities come faster.

You don’t have to be a shrink to integrate trust into your startup. Here are three easy ways to make sure trust is the backbone of your team.

 

  1. Be loyal to each other. Startups have enough obstacles to get through and your team should not be one of them. Failure will happen, learn from it together and move on.
  2. Make your office a judge-free zone. Ask why something is the way it is before making assumptions.  It keeps innovation going and allows for growth.
  3. If you see a problem, handle it. Build your team around trust by having each other’s backs at all times. Get things done even if it is “not your job.” 

 

I have witnessed all of these first hand at one point in the various jobs I have had. Let it be someone looking to get ahead at the expense of someone else, seeing a situation and assuming the worst, or being challenged with a problem and avoiding it all together. It takes the action of one person to make a difference and lead by example, but it takes a team to excel and create trust with each other to find opportunities that will grow the business.

 

When trust is built within the team, relationships can expand and opportunities with others begin to open up. Connections with fellow entrepreneurs and customers culminate and enable your team to find answers to the questions you did not know you had.

 

Entrepreneurship is like a game and you can think of your startup like a puzzle. If trust is not there, pieces will be missing, the picture is not clear, and you find there are holes in your business. Without trust, your startup will never have a chance. Trust is the binding glue needed to help a business grow, let it be big or small.

 

Manageing scope creep, the key to tackling big ideas

This week is Dallas Startup Week. In the hustle and bustle of networking, brainstorming, and coffee-drinking, I had the chance to sit down with a local startup, Code Authority, and get their tips for being successful. Their key to success, managing scope creep.

Projects get too big, features get added, and today- speed to market matters. Their advice for navigating through the chaos is to solidify your MVP (minimum viable product). An MVP is a product that takes least amount of time, money, and features to get proof of concept. “An MVP is essential to manage scope creep,” says Jason Taylor, the founder of Code Authority. “The opposite of an MVP is gold plating…at that stage, you’re just guessing.” Jason stressed that it’s human nature to want to gold plate and make everything perfect.

How do you combat the desire to gold-plate and stay focused on you MVP? He introduced two elements to define your MVP scope.

  1. User and Market Interviews– Actually get out and talk to your market. Test your assumptions.
  2. Proof of Concept– What prototype can you build that someone can interact with? Even if they’re wire-frames, you need to get your idea out on paper.

Managing project scope is hard. Companies of all sizes struggle with it! Our course, FirstGear, helps you define your market, conduct valuable interviews, and define your MVP. Sign up here!