Feedback-Driven Businesses

One of the biggest strengths of startups, and a major reason why they can compete with much larger companies, is the ability to innovate faster. It’s truly a competitive advantage to be closer to the customer and iterate quickly. Much has already been said about customer driven development related to talking to your prospects or customers throughout the product development lifecycle, but I don’t think enough has been said about using the same tenants of soliciting feedback to drive all aspects of the business.

Here are some common examples:

• Listening to employees to improve corporate culture
• Asking the right questions with potential employees to effectively recruit
• Interacting with suppliers to find how to work better together

Obviously, this is a broad topic but I encourage you to work to build a feedback-driven business.