When I reflect on the journey of building a company, I often think about the footprints we leave behind. It's not just about the success we achieve today but the lasting impact we create for the future. At Turing Venture Capital, we're deeply committed to supporting founders who aspire to build companies that stand the test of time.

In this chapter, I'd like to explore the principles of creating a legacy by focusing on companies built to last, balancing short-term wins with a long-term vision, and strategies for sustaining growth over time. Drawing inspiration from Jim Collins and Jerry Porras's seminal work, Built to Last, I'll share insights on how you can craft a legacy through your startup.

Principles of Companies Built to Last

Creating a company that endures requires more than just a great product or a savvy market strategy. It involves instilling foundational principles that guide the organization through changing times.

Core Ideology: Defining Your Purpose and Values

At the heart of every enduring company is a strong core ideology.

• Core Values: Identify the timeless guiding principles that are intrinsic to your company. These values should remain constant even as strategies and practices evolve.
• Core Purpose: Define the fundamental reason your company exists beyond just making profits. This purpose should inspire and give meaning to the work of every team member.

Reflection: What are the unchanging principles that define your company? How does your core purpose resonate with your team and customers?

Embracing Change: Cultivating Progress

While holding steadfast to their core ideology, built-to-last companies embrace change to drive progress.

• Stimulating Innovation: Encourage experimentation and support new ideas that can propel the company forward.
• Adaptive Strategies: Remain flexible in your approaches, adjusting to market shifts while staying true to your core values.

Reflection: How can you balance preserving your core principles with the need to innovate and adapt?

Setting Bold Goals: The BHAG Concept

Big Hairy Audacious Goals (BHAGs) are ambitious, long-term goals that galvanize teams.

• Inspiring Vision: Set goals that are clear, compelling, and challenging enough to inspire extraordinary efforts.
• Alignment: Ensure that these goals align with your core ideology and are embraced by the entire organization.

Reflection: What audacious goals can you set that will motivate your team and drive your company toward greatness?