Entrepreneurs often have a hard time relinquishing control of their ideas and nascent business plans due to their closeness to their projects and vast time and effort put into it. However, most experienced entrepreneurs know that allowing certain levels of collaboration and ongoing learning are key to pushing any business to the next level of success. It is at this jumping-off point when venture methods such as accelerators, incubators and of course, startup studios can become key players in any developing venture by providing their expertise and assistance at a deep and granular level.
For those unaware, a startup studio is essentially an organization whose goal is to develop startup ventures from small beginnings to full-blown and incredibly successful companies. A key player in the startup studio space, Startup Studio Insider, has committed itself to spread the word on the power these groups can carry for companies of nearly any size. “Startup studios have the experience of working up close and personal with a variety of founders, providing a unique perspective to anyone developing a new business, regardless of their sphere,” they note. “Additionally, the unique outsider perspective often allows studios to pinpoint the exact change or addition necessary to take an enterprise to the next level.”
But how do these studios manage to provide their hands-on approach? Keep reading to get a better understanding of how these organizations approach their projects and help entrepreneurs better realize their visions.
Ideation and Direction
From the moment a startup studio takes on your project, they’re ready to jump in and get their hands dirty. This normally takes the face of an extended brainstorming and planning process to ensure everyone is on the same page, normally led by core members of the studio who intimately understand the launch process. Anyone who knows an entrepreneur knows it can be hard to get to focus or nail down specifics, and this structured guidance and support is the perfect thing to help kickstart any leader into the startup mentality. Additionally, when working with a group whose entire job is to provide startup support, they ensure that nothing is missed or passed over, as they know exactly what it takes to get a business off the ground.
For anyone with a great new idea, this type of logistical support is critical to nailing down a plan that is measurable and time balanced, giving everyone involved the greatest chances for success.
Process and Support
Once a group gets into the process stage of a new project, the benefits of a startup studio begin to prove themselves many times over. For example, with specific team members to handle development, investment, domain expertise, marketing, and internal growth, the creators are left to focus on what they need to focus on the most: the creating!
When day-to-day operations are taken care of, startups are emboldened to think bigger than ever before and are freed up to remain almost entirely conceptual. It also allows for faster scaling, letting these ideas continue to soar throughout the process.
While it may seem contradictory, one of the most important aspects of a startup studio is its ability to let companies move on to new heights once they are ready. This ability to free an organization and let them work on their own is essential to let them reach their true potential – sort of like when you remove the training wheels from someone learning to bike. At first, it might make things a bit harder, but within no time they’re biking on their own, completely unsupported. Startup studios know when to take the training wheels off, and this process is built into their organizations to make sure new companies get the support they need while still coming into themselves.
Startup studios are a powerful tool that any new business developer should consider implementing if they are looking for the next stage of their new operations. With effective and diverse teams, these studios are capable of providing incomparable hands-on support.
For more on the latest in the world of Startup studios, be sure to check out more from Startup Studio Insider!