Old School: 5 Big Business Practices Startups Should Dust Off and Adopt

by Fast Company

There has been plenty of talk about the lessons big companies should be taking from their more innovative startup counterparts, but the truth is that road goes both ways.

“While there’s a lot to be said for shunning silos and management tiers that inhibit innovation, there’s also plenty that even the most cutting-edge startup founders can learn from the acumen of old-school Fortune 500 CEOs,” writes Aaron Shapiro, CEO of global digital agency Huge.

In a guest post for Fast Company, Shapiro lays out five business practices startups should take from the big business playbook, including limiting focus to a singular point of differentiation, developing a corporate structure that isn’t too reliant on any one particular individual, and getting over the fear of the dreaded B-word — while too much bureaucracy inhibits innovation, avoiding the concept wholeheardtedly can doom productivity. For more on big business practices startups should adopt, read Shapiro’s full post.