Right-Thinking the Startup Journey: Beyond Like-Mindedness to a Common Expected Outcome (CEO)
In a recent post on X, Marc Randolph beautifully analogised startups to backpacking trips, emphasising the power of like-minded individuals journeying towards a shared goal. While I resonate deeply with this analogy, I would like to build this and propose an additional, critical dimension to this narrative: the concept of ‘one-mindedness’ in the pursuit of a CEO – Common Expected Outcome. The CEO is an essential, complementary layer to evolving a startup culture that endures.
What is the CEO?
In startup culture, the CEO is not a person but a concept – it stands for ‘Common Expected Outcome.’ It’s a collective vision, a tangible and evolving target that every team member strives towards. Unlike static goals, the CEO is dynamic, adapting to the team’s growth and market shifts. It’s both a destination and a journey, shaped by the diverse insights and strengths of the team. It’s the point where individual paths, however varied, converge for a collective triumph.
Why does the CEO matter?
Imagine a startup where every decision, every innovation, is aligned not just with personal viewpoints but with a unified destination. The CEO is that destination. It’s a beacon that guides diverse perspectives towards a singular, impactful outcome. From my experience, startups that embrace this concept exhibit unparalleled adaptability and creativity. Below are other reasons why I believe CEOs matter in the cultural formation of startups:
1. Unified Vision Amidst Diversity: Startups often begin as a collective of diverse minds. Here, the CEO acts as a compass, guiding these varied perspectives towards a singular, cohesive goal. This unity in diversity ensures that the destination remains constant while paths may differ.
2. The Evolving Goal: The beauty of a startup lies in its fluidity. The CEO isn’t a fixed point but an evolving target shaped by the collective experiences and insights of the team. This evolution is pivotal in navigating the dynamic waters of the startup ecosystem.
3. Richer Decision-Making: Diversity in thought leads to a richer decision-making process. When aimed at a common outcome, these varied viewpoints forge strategies that are both innovative and pragmatic, steering the startup towards sustainable success.
4. Resilience in Culture: A startup’s culture is its backbone. A clear yet adaptable CEO cultivates a culture where varied opinions are not just heard but valued. This fosters innovation and resilience, preparing the startup to weather unforeseen challenges.
5. Ensuring Long-Term Success: The longevity of a startup is anchored in how well it can adapt while maintaining a clear direction. The CEO provides this direction, offering a balance between steadfastness and agility, crucial for enduring success in the ever-changing business landscape.
When I was Chief DOer at DreamOval Limited, now Sevn, we pivoted from merely processing eCommerce transactions through cards to focusing on money transfers enabled by Mobile Money. We saw an exponential growth in volumes and the value of transactions. Shortly after, We partnered with Stanbic Bank and changed the product name from iwallet to Slydepay. These shifts weren’t just a change in strategy but a realignment of our Common Expected Outcome to respond to how the ecosystem and market dynamics were evolving and ensure we continued to survive and grow our payment proposition. By onboarding diverse inputs and focusing on a common goal, Slydepay (now Kowri) not only survived a competitive market but thrived.
How do you Develop a Compelling CEO?
- Identify Core Objectives: Start with identifying the core objectives of your startup. What is the primary change or impact you aim to create?
- Incorporate Diverse Team Perspectives: Gather inputs from all team members, ensuring every voice is heard. This diversity in thought is what makes the CEO robust and inclusive.
- Align and Adapt to Market Dynamics: Continuously update and align your CEO with market trends and customer needs. Adaptability is key.
- Define Measurable Milestones: Break down the CEO into achievable, quantifiable, and measurable milestones. This keeps the team focused and motivated.
How do you secure team buy-in for your CEO?
- Transparent Communication: Share the vision and rationale behind the CEO openly with your team. Clarity and transparency are vital.
- Involve Team in Evolution: Regularly involve the team in refining the CEO. Ownership fosters commitment.
- Celebrate Milestones: Recognise and celebrate each milestone achieved by the CEO. This builds momentum and team spirit.
While like-mindedness in teams is valuable, the true game-changer for startups is the cultivation of a Common Expected Outcome (CEO). This collective, adaptable vision, shaped by diverse perspectives, is what sets the stage for groundbreaking innovation and long-term success. As we navigate this odyssey, let us remember: it is not just reaching the destination that counts, but how the startup evolves and grows together on the journey.
Remember, a successful startup is more than a group of people working together; it is a symphony of diverse thoughts harmoniously aligned towards a common, inspiring future – the group CEO.
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