CEO’s of Fortune 500 companies want to start implementing “start-up culture”, but what exactly is that?
When we think of start-ups, we tend to think of upcoming technology or software companies, but start-ups can be any company that is able to make a dent within their industry despite size.
People tend focus on a start-ups’ ability to create noise across their industry, but behind the big numbers and colourful branding exists a dark reality, which – whether we like to admit it or not – is within almost every start-up.
14 hour days, uncertain wages, & initially working within the owner’s bedroom; not exactly a luxurious workplace.
So why would a Fortune 500 company want to implement within their business?
Start-up employees tend to stay within the company even when times get tough, simply because the eventual payoff could be so colossal. Watch Netflix’s documentary Fyre as proof of this loyalty’s unbreakability. It’s the ultimate carrot-dangling scenario. Yes, the payoff could be huge, but that’s only if the startup gets bought-out.
How Fortune 500 companies plan to implement this mentality is beyond me. I’m sure they could offer bonus’s to employees, but unless these bonus’s are 10,000% of their annual salary they shouldn’t expect to recreate this “start-up culture” within their multi-billion pound brand.
Keep in mind Google already tried this with their self-driving car team, and the engineers quit after they got their bonus.
So what was the difference between the Google’s self-driving vehicles team and the original Facebook developers? They didn’t build the brand.
Google and these other Fortune 500 companies are already established, their employees have no commitment to further build upon the brand because they’re just adding dirt to a mountain.
Start-ups begin unknown, and later become established. Recognition is addictive (which is why social media is dangerous), and it’s impossible for a Fortune 500 to recreate the excitement of taking a start-up from a bedroom to occupying a whole skyscraper.