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At Jotform, we approach our internship program with significant dedication, viewing it as a crucial element of our company’s success.
New interns begin their experience with a week of comprehensive training. This period is instrumental in introducing them to our company’s mission, operations, and culture. Following the training, they are paired with seasoned team members, allowing them to engage with meaningful projects. By the end of their internship, we aim to have equipped them with skills and insights that can lead to future success within our organization.
While working with interns demands substantial time and resources, it is an investment that often pays off. Many of our outstanding employees began their journeys at Jotform as interns, proving their worth and potential to advance within our organization.
It can be tempting to hire candidates with more immediate experience. However, this approach is indicative of a short-sighted strategy that may be detrimental in the long run. By investing in the development of young talent, we avoid the costs associated with hiring more established candidates who may not fit our culture or meet expectations. Recognizing potential in individuals we already know can yield significant benefits for our teams.
Unfortunately, many leaders choose quicker, more convenient hiring options that ultimately lead to missed opportunities for more sustainable growth. Here’s why this mindset can be counterproductive.
Prioritize Sustainable Growth
For companies in the Software as a Service (SaaS) sector, creating a loyal subscriber base is essential for long-term success, which requires patience and a commitment to customer satisfaction. One risk associated with seeking external investment is that it can create a façade of achievement while undermining genuine growth.
The example of Theranos serves as a poignant reminder of the dangers associated with prioritizing rapid results over real innovation. Valued at $9 billion, Theranos fell into a cycle of deception, ultimately revealing that its groundbreaking technology was nonexistent. The downfall of the once-promising startup culminated in legal repercussions for its founder, Elizabeth Holmes, underscoring the perilous effects of external pressures compounded by the pursuit of quick success.
Rather than following a path dependent on venture capital, I advocate for a bootstrap approach. Although it lacks glitz, this method nurtures authenticity, enhances innovation, and solidifies stability. Most importantly, it provides the flexibility to develop products based on user feedback and a realistic timeline.
Recognize the Scarcity Mindset
Short-term thinking can often stem from a desire for immediate rewards, but it is also frequently fueled by fear and a scarcity mentality. This concept, explored by researchers Eldar Shafir and Sendhil Mullainathan, illustrates how resource limitations can constrain our cognitive focus, leading us to prioritize short-term gains over long-term objectives.
Shafir notes that our cognitive capacity is finite, and when we fixate on one issue, we risk neglecting broader considerations. For startup founders, especially in the early days, the pervasive feeling of limited resources can exacerbate this mindset. However, succumbing to this mentality can stifle creativity and lead to hasty, poorly thought-out decisions.
To counteract a scarcity mindset, it is essential to cultivate an abundance mentality. This can begin by emphasizing available strengths rather than focusing on perceived deficiencies. If you are leading a bootstrapped venture, for example, you may have the most valuable resource: time. Embrace the opportunity to experiment without the pressure of immediate success. Understand that meaningful change occurs gradually, so start by identifying one specific area where scarcity thinking is hindering you.
Visualize the Future
Short-term thinking is easy to embrace when the future feels abstract or unattainable. For instance, enjoying a slice of pizza today can overshadow considerations about future health implications. Researchers have found that individuals who are capable of visualizing and empathizing with their future selves exhibit a quality known as “self-continuity.” This awareness prompts decisions that favor long-term well-being.
To bridge the gap between present actions and future goals, consider conducting a self-interview. Picture a conversation with your future self and inquire about the focus areas that would yield the best outcomes now and in the future. What do you aspire to achieve in the next decade or beyond? By clearly outlining your long-term objectives, you can create a strategic plan to guide your actions presently.
Avoiding short-term thinking can be challenging, yet by concentrating on sustainable development, fostering an abundance mindset, and making future aspirations clear, you will position your business for enduring success.
Source
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