Startups need to operate with speed to gain momentum and compete in new markets. Especially for new businesses, you have to be quick to make decisions, learn from them and implement changes accordingly. Charles Phillips, the CEO of Infor, prioritizes speed at one of the fastest growing startups in the tech industry. As the head of a company that earns nearly $2.9 Billion in revenues, moving fast has proven to be successful as Infor continues to win over new customers and businesses. If you are a startup executive, read on to learn how Charles Phillips pushes his organization to move fast and grow quickly.
Implement software with simple design
Charles Phillips prioritizes simple design for Infor and the startup’s clients. Compared to other business applications that are considered to look like they’re from the 90’s, his organization and its clients use beautiful design to keep processes simple. He believes that corporations should not have to suffer with poor software or design. Utilizing a simple interface, companies can work faster to accelerate their growth. On top of that, a simple design makes it easier for large and small teams to get things done efficiently. If you would like to have your startup working more efficiently, implement business software that has simple design features.
Hire the best and the most brilliant
Additionally, startups need to hire the best talent who are brilliant at what they do. Under the direction of Charles Phillips, Infor has hired over 1500 engineers and employees that improve software development. This is a great example to accelerate growth. Hiring for talent and intelligence give the business added resources to improve its products. When hiring for your startup, you should only hire people who are very smart and can contribute to the company. As we have seen from Charles’ experience, hiring the right team can improve the speed and profitability of a startup.
Encourage disruptions and quick meetings
Communication between an organization executives, management and employees can improve its speed. Instead of staying at their desks, Infor employees are encouraged to walk over and start a conversation to have meetings. This rule applies to the CEO Charles Phillips too. Rather than working from a corner office away from everyone, his desk sits in the middle of the office along with other executives at the company. To facilitate fast communication, Charles encourages disruptions and 5 minute meetings to discuss day-to-day operations.
Forget emails and start chatting now
Another way Charles Phillips communicates with his team members is through instant messaging. Since work chats are faster than traditional email communication, Charles encourages his team and employees to chat him for quick responses and feedback. When other executives and team members are able to get input and answers quickly, it enables them to get more done in the day. This is a simple way to improve workplace communication for the whole company. As a result, everyone in a startup can work faster when they can simply chat a key stakeholder in a decision making process. When decisions are made faster, the company can take advantage of unique opportunities quickly.
Acquire other companies for growth
Over his tenure, Charles Phillips has made many acquisitions of technology companies. Just four months into his CEO position at Infor, he pushed investors to make the acquisition of Lawson Software. Since then, Charles has continued to acquire competing companies that can be cross-integrated under the Infor platform. These acquisitions have fueled the growth of Infor customer reach and revenues. Certainly, if you have the financial backing, your startup can acquire competing companies to increase growth multi-fold. This strategy has worked for Charles as it could work for your industry as well.
In order to lead a startup successfully, you have to be able to move fast as an organization. Following these strategies used by Infor CEO Charles Phillips, you can accelerate growth in your own startup. Begin with well designed software and processes that enable teams to get work done quickly. Only hire people who are well qualified, passionate and very skilled at what they do. Then, encourage team members to step away from their desks to talk and meet in person. If they are in different locations, consider using chat over email. Make communication as simple as possible. Finally, you can drive immediate growth through acquisitions of competitors or companies that can add value to your product offerings. Following the steps of Charles Phillips, your startup can move fast too.