Brian Wallace, Founder & President, NowSourcing
There is nothing quite like a startup in the endless pursuit of the American dream. We are seeing more and more people greet the new millennium by rethinking how we achieve that elusive special thing we call success. People aren’t content anymore just to be another cog in some conglomerate. They want to build something of their own. Something that when this long journey is over, they can look at and say, “I did that.” Entrepreneurs of the world, we salute you. You have vim and vigor that few share, and the leap of faith you have taken is nothing short of awe-inspiring. It’s your boldness and gumption that drive this world forward. You’re taking us into the future with every innovation you make, and we are so excited for the opportunity. And with change, so must come with a difference in the way we think about startups. That’s why I’ve consulted with Kevin Miller to create this guide on the changing face of startups in 2022.
Creating a Company Culture
In 2022 people are constantly searching for meaning. We are at a flashpoint in history where the way things have worked for hundreds of years is changing. We’re seeing new perspectives and making new calls in the hopes of a brighter future. Startups need to adapt to this by creating a strong sense of company culture. Help your colleagues feel that they belong to something by creating a community around your startup. This can be as simple as allowing people to dress casually or as elaborate as having a series of themed activities on Fridays that people are free to participate in. This is a fun and easy way to create a sense of community for the people you work with. If you want to take this idea further, consider hosting an open forum for your employees to ask questions and vent about any frustrations they have in a safe and nurturing environment. This allows your employees to feel secure knowing that they can come to you with any issues without fear of reprisal. This creates a generally positive shift in morale. Which will show returns in your level of productivity. Great company culture can be influential for your business because a happy employee is a productive employee.
Breaching the Biome
With the state of today’s global emergency, questions regarding a person’s health have never been more prevalent. Not just about getting sick. But the way we eat, what we’re putting into our bodies, how our bodies process those materials, and how they affect us. This is leading to an explosion in biotech research as startups are focusing more and more on ways technology can play a role in the future of medicine. We believe that this is a field ripe for exploration due to a kinetic combination of its relatively new emergence and its relevance sitting at the forefront of people’s minds. Young entrepreneurs would be well advised to keep an eye on companies that specialize in biotechnology as their discoveries become more and more viable. We are questioning everything that our parents told us in the technological age. Why not extend this to health too? All one has to do is compare the development of prostheses from twenty years ago to now to see how quickly and radically technological advances can recontextualize the conversation. Who knows where we’ll be in the next decade? We believe the medical and biotechnological to be a hotbed for innovation, ripe for the taking.
The Democratization of Investment
One of the most surprising developments of this new decade has been the democratization of how people make investments. Apps like Robinhood now allow anybody to take control of their financial destiny through careful observation of the stock market. This is a burgeoning trend that we highly encourage the proliferation of. The genie is out of the bottle on investment, folks and there’s no putting it back in. Companies would be well advised to facilitate this process rather than impede it. Companies who capitalize on this opportunity will have the chance to see a return on their investment and a sizable increase in their social capital. In the internet age, companies live and die by word of mouth, and startups must remain acutely aware of their optics. With moves like this, your startup can shrewdly navigate an exciting investment opportunity while looking great in the public’s eyes. Now, that’s what we would call a win-win.
Redefining the Roles of a Workplace
Our last entry is for the startups out there who are a little behind the curve. Some of our readers may think this is passé at this point, but it is our view that this topic can never be discussed enough. We’re talking, of course, about diversity in the workplace. If there is one single trend that will continue into 2022 and beyond. It is the continued diversification of opportunities in critical roles within your organization. The ’20s are a fresh decade that hosts a new set of challenges. To meet those challenges we need fresh perspectives calling the shots in our organizations. These new leaders have the potential to take us beyond what we thought possible. And hopefully, into a newer, brighter future that takes care of everybody.
Startup culture is an ever-changing game. As we shift our pieces on the board, we realize that we must come up with new strategies to remain competitive in the marketplace. What worked even five years ago has proven to be no longer viable. We have to constantly reinvent ourselves; otherwise, we’ll be lost in the tide. We hope that this article provided you with some insight into the trends of 2021 and helped revitalize your perspective on this new year.
About the Author: Brian Wallace is the Founder and President of NowSourcing, an industry leading infographic design agency in Louisville, KY and Cincinnati, OH which works with companies ranging from startups to Fortune 500s. Brian runs #LinkedInLocal events, hosts the Next Action Podcast, and has been named a Google Small Business Adviser for 2016-present. Follow Brian Wallace on Linked