Liisi: I’m a Startup Community Development Manager in Startup Estonia, which is a government initiative aimed to supercharge the Estonian startup ecosystem in order to be the birthplace of many more startup success stories. I’ve worked in startups in Estonia and the United States, having several roles. So I’ve seen inside of the startups and how they operate. I’ve organized one of the biggest startup festivals in Estonia – Startup Week Tallinn, as one of the head organizers 2 years in a row and I’ve mentored future founders. Being part of the organization which represents the startup sector, I can see that the Estonian startup ecosystem is in good shape and it’s only continuing to grow. 

Being part of the organization which represents the startup sector, I can see that the Estonian startup ecosystem is in good shape and it’s only continuing to grow. - Liisi Org 

Rein: I’m CEO of .Contriber. My current venture is to support leaders and founders through .Cocoon – a Founder Psychology Program. We take the founder’s business problem and help them to see how it relates to their personal challenges. We do that through mentoring and events that occur 3-4 times a year.

Merje: I work as a Corporate Social Responsibility Manager in the largest bank of Estonia – Swedbank. We have more than 900,000 private and 132,000 business customers.

Aleks: For me, it means to create something from nothing and never stop learning. It means to improve yourself continuously and apply that growth into your goals. Promoty was started with 0 € and a good co-founder.

Ivo: For me, the startup mindset means being open to new ideas, dedication, commitment, a desire for teamwork and to continually learn and be the best in the narrow field in the world. It is also important to acknowledge own mistakes, learn from others, and be able to always validate ideas with other people.

Startup mindset means being open to new ideas, dedication, commitment, a desire for teamwork and to continually learn and be the best in the narrow field in the world. - Ivo Remmelg

Liisi: Startup mindset is something we all need more in our lives. It tells you to be more bold, to think like a visionary, to embrace risks and listen. It seems easy, but we’re not doing that very often, because we’re not built like this. This is what working in startups teaches you – stand up for yourself, because your ideas can lead somewhere you never imagined. Everything is possible and no matter how cheesy it sounds, life proves us that every step of our way.

Alvar: Here in TransferWise, we believe that tech can solve everyday problems and make our lives easier. Once you’ve identified a problem and started working on a solution, it’s important to align your team behind your mission you’ve taken. Keeping your eyes on that goal helps to keep focus, set relevant objectives and achieve them faster. That said, the best way to go where no one has gone before, is by taking small steps and testing your ideas and hypotheses as you go.

Rein: It means that even if one doesn’t have a clear problem to solve or a clear understanding of how to solve it, nor does one have all the skills in his team and enough finances, he still has a belief that with decent work effort and passion his venture will succeed. I call it the “can do” attitude.

Aleks: As startups have usually very lean operations, larger companies can adopt methodologies from them to be more efficient and get an edge on the competitors.

Liisi: In order to succeed, you need to fail several times. Then you pick yourself up and keep going. It is easier to fail if your mindset is telling you that failure is normal. People do that every day and it shouldn’t define you as a person. Consistency is the key.

Rein: Startups tend to have the ability not to give up when things do not evolve as anticipated but rather accept the reality and find another way forward. Another thing that can be learned from the startups is that you can do great things with minimal resources and that if logic fails, then 100 iterations can bring results most did not believe are possible.

Merje: To become a successful startup, one should perceive the trends of the future and be a little ahead of its time. The advantage of a startup is agility, the ability to change course quickly. In large companies, the rules of processes might take the pace off, but also help to decrease the probability of making wrong decisions.

Ivo: We have to tell more successful startup stories. Good stories inspire.

Aleks: Two things. First, stories have always had great power over the history of mankind. Great stories inspire people. How many people have Steve Jobs or Elon Musk inspired to adopt the startup mindset? Probably a lot, me for sure. Tell the stories.

Great stories inspire people. How many people have Steve Jobs or Elon Musk inspired to adopt the startup mindset? Probably a lot, me for sure. Tell the stories. – Aleks Koha

Liisi: Encourage them. Tell them to think about the things they really want to do. Help them find mentors in everyday life and professional topics. Tell them that everything is possible. Encourage them to try and never be afraid to fail.

Alvar: Not only the goal of what? is important, but also the how? in reaching that goal. Be bold and understand that you're the best person to make changes happen in the field of your work, and changes start from actions. Take small steps, and prefer asking for forgiveness over permission. When people and teams are autonomous, results are achieved faster thanks to skipping long command-chains. Working this way also means the teams who are closest to the product and their expertise can build a sustainable base for the whole company scale from.

Rein: I’m not sure if people have to think more like startups. Everyone has their own path to walk and a unique contribution to make. For inspiration, storytelling is always a good way to approach and startups tend to have amazing stories of both success and failure.

Merje: I believe that spreading the startup mindset should begin in the school system already. It is important to encourage kids to explore new ideas and come up with something different. The courage to sometimes fail and learn from it are also essential skills to develop.

Can you give us some examples of how you have applied the startup mindset in your organization?

Aleks: At Promoty, we have everyone is on the same page, we make it clear from day one what they are getting into. Failure is not a taboo and experiments are encouraged. In our development, we use lean methods and growth hacking cycles to move faster.

Liisi: In Startup Estonia, we see ourselves as a little startup. If something needs to be done, it will be done fast. We test, measure, sometimes fail, sometimes succeed and this is how we are used to work. We communicate a lot with each other and startup community partners to understand what the “clients” want and then we test it, measure it, and get the results. We encourage each other a lot, give advice and listen. That is really important in our work.

Merje: I would say that a startup and a large enterprise with a long history do not have to be something really contrary. It is a matter of mindset. We’re also making a change in fin-tech by being among the first in the region to offer cutting-edge payment solutions such as a smartwatch or Apple Pay payments. As mainly an in-house development we’ve also launched an Open Banking platform and new mobile app. Through Prototron we are supporting fulfilling new entrepreneurship ideas.

I would say that a startup and a large enterprise with a long history do not have to be something really contrary. It is a matter of mindset. - Merje Klopets

Rein: Never stop asking questions and when a task is agreed, get things done!