Categories: Marketing Strategy

Talent Without Clear Strategy = Startup Failure

I worked for a tech startup 1999-2000. We had the best conditions a startup could hope for…multiple rounds of series B & C investment, multiple Defense Dept. contracts, great facilities, and amazing, excited, super-committed talent. With all these conditions set for success, you would expect great things right?  It didn’t happen.

The company is still around with stock price hovering around $3/share, struggling not to get de-listed.  I shake my head every time I see a new press announcement and how this company is just trying to survive. Why?  Because it should have been a huge success.

About 75% of the mid level managers with whom I worked with at that startup and I went on to run successful companies.  Our OWN companies.  I often wonder, “Were we too independent as individuals?  Too many chiefs, not enough workers?”  But I don’t believe that was the case.  The real reason the startup failed, but the same people later succeeded, has to do with strategy.

The startup’s leadership team didn’t have a cohesive strategy.  In fact, the leadership team members all had different strategies, and agendas, and alliances. The group of vastly talented mid-level managers, engineers, developers, and designs spent more time trying to figure out the next steps, and with whom they should align, then execute to a plan and product launches.  The leadership was eventually thrown out and investors took over.  In the tech startup world, it’s a far too familiar story.

So how did my colleagues and I eventually rise to success in a far more difficult environment for starting our own companies?  We each had a well-articulated vision and strategy for our business. I’m not talking about a standard, boring Vision and Mission statement that you throw up on a white board.  I mean a real blueprint for what success looks like:

  • Goals
  • Strategies
  • Measurable Success Criteria

And these were supported by accountability,  great marketing, motivated sales reps, competitive positioning, supportive leaders, and unique value propositions.
As I head to the #HIMSS14 health IT conference today, I’m wondering how many companies spent $500K+ on their booth and parties, but with no clear marketing plan, marketing strategy, or measurable goals.  Those that do articulate the strategy, will certainly have more than a leg up on their competitors.  And they will be poised for success instead of just spending precious marketing dollars.

Author: +Chris Slocumb

 

Brian Shilling

Brian is our Executive Vice President of Client Operations with experience leading diverse teams of marketers and designers in strategic marketing, content creation, and crafting comprehensive messaging and positioning platforms for our healthcare and tech clients. To learn more about Brian's experiences and qualifications, visit our leadership team page.