This was the sixth installment of Coderbunker’s Innovation Fridays series, featuring Luyi Wang, co-founder of Mesoor AI.
The Startup Life
Luyi Wang is co-founder of the intriguing startup business Mesoor AI: a recruitment platform that utilises AI to evaluate potential employees. Because of her experience, Luyi understands the failure, uncertainty and pressure facing startup companies. For example, uncertainty comes from the fact that for innovative startups there are no comparables, no ratios to look at and Discounted Cash Flow doesn’t work. Further, you don’t even know who the ‘right’ people are.
How do we lead a startup smartly and creatively?
Luyi stressed that the number one factor is how leadership is carried out in a startup. For example, there must be a paradigm shift from ‘power’ to ‘taking care of’ the startup and its resources. The leader must also take responsibility for the startup’s successes and failures and never blame employees. Further, empathy must be shown to employees because of the risk they take working for a startup. In addition, leaders must dynamically track progress, otherwise they may feel the need to blame employees at the last hour or last day.
Secondly, Luyi emphasised that a startup’s biggest investors are its employees as they could earn a much higher salary elsewhere. In order to show empathy and retain talent, leaders must pay close attention to employees true needs besides monetary compensation. For example, many employees at innovative startups are looking for a platform to prove their own ability and contribute more significantly as part of a smaller startup team.
Good Tools involve those that share, visualize and are dynamic. Luyi recommended some tools that can assist in different aspects of a startup:
About Luyi and Mesoor AI
Luyi graduated from University of Notre Dame and worked as a risk assurance consultant at PwC for years. Luyi has provided consulting services for more than 10 Fortune 500 companies, including Alibaba, Ctrip and Ford Motor. Starting from 2016, Luyi started Mesoor Inc, with a hope to redefine Human Resource industry by data and technology. Mesoor provides an end to end solution for company recruitment based on Artificial intelligence.
What did we learn?
As Innovation Fridays always does, it drove us to reconsider traditional methods of doing something. In this case Luyi offered a new perspective on managing tech-heavy startups. Startup leaders must also be open to listening to the various opinions of stakeholders. Finally, startups must be agile and flexible in generating a solution.
Innovation Fridays is series on innovation, innovation management, design thinking, creative thinking on Fridays at CoderBunker from speakers offering consulting services in these areas. If you or someone you know is interested in presenting their own innovative ideas and spreading your brand, please contact Coderbunker at email@example.com.
Written by Philip Lee.
Reviewed by Ricky Ng-Adam.
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