A Friday series exploring Startups and the people who make them go. Read all If the Shoe Fits posts here
If generating revenue is high on your list of important stuff, then knowing your market should be right up there, too.
Actually, the knowing needs to come first.
There is no way a 20-something, white male from an even slightly privileged background knows, let alone understands, the needs/preferences/desires of a Gen Xer, Boomer or older, let alone those of a different gender, race or economic status.
IDEO not only understands that, it hires accordingly and enjoys big payoffs.
The problem is bias.
Google is one company that has recognized the reality of bias and is actively working to counter it, as is Silicon Valley Bank.
The bank has already undergone unconscious bias training globally, which involves exercises including splitting into groups and assessing the merits of four different résumés, only to return to find they belonged to the same candidate — just with different names and genders attached. (…) with female names, for example, the groups were more likely to question the candidates’ credentials.
It is considering whether to remove names from job candidates’ résumés in a bid to prevent unconscious bias from its recruiters.
Bias is a serious problem, but you’ll never win against it if you believe that ‘they’ are biased and you are not.
It also helps to understand that bias, whether genetic or cultural heritage, is hardwired in our brain.
As a founder, you have the ability to shape the values, culture and bias of your company.
And you need to do it intentially.
Image credit: HikingArtist