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Let’s get Start-upped: 7 keys to building an organisation from scratch

7keysSo how do you build a successful new organisation?  Here are the tips I gleaned from a recent ODIN network session in London, led by Ann-Marie Lister, head of Organisation Development at the new Atom Bank.

Key 1: Find the right people

What sort of people do you need? More specifically, who do you need to surround yourself with to have any prospect of success? Start-ups are exciting places to work, yet clearly, they are not for everybody, especially not for people who want stability, security and a future that appears less risky.  But it’s surely attractive to anyone keen on an improvisational environment.  Things are changing all the time, often fast, and adaptability is a vital skill.

Key 2: Make tempting offers to the people you want to recruit

A year ago Atom Bank had 10 people and an idea on a piece of paper.  They were recruiting for a project that might not get off the ground.  Ann-Marie Lister joined as their 18th employee.  Now they are up to 120.  They tempted her with the promise of gaining great business experience alongside a bunch of colleagues with attractive cvs.  These were colleagues at the top who had fresh, new ideas on top of solid experience – mostly within the banking industry.

Key 3: Innovate

You have to offer something new, in this case, digital-only banks with no branches.  Banking by app, expressed in their snappy vision ‘to be the first telepathic bank’, supported by their value of ‘humanity with technology’.  Thinking about your organisation, what’s your inspiring vision? What values do people perceive when they see you in action?  Does it give your people a chance to be ethical?

Key 4: Make sure you include that human element

The Atom Bank bosses know they must avoid the facelessness of many digital enterprises.   They encourage contribution from each person that joins, and they celebrate everyone’s arrival (and thank those who depart).  Staff are prompted to  generate new ideas and add to the energy.

Key 5: Keep your costs below the traditional competitors

Locate where land and labour are less expensive – in this case, the relatively depressed North-East of England.  Use less of each.

Key 6: Make a culture club  

Organise the office space so that people meet each other and communicate frequently, talk together to make new policies, take important decisions.  Allow them to wear what they like.  Train all the managers to be coaches and use a coaching conversational style.

Key 7: Reduce hierarchy

Have fewer official levels.  And encourage less hierarchy informally, too, with people sitting together, allowing easy access and more conversations.

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