Launching and actively managing a startup is bound to be full of failures, setbacks, and heartbreaks. That’s part of the reason why it’s so important to celebrate your startup wins when you do achieve them.
But how exactly should you be celebrating your most impactful startup wins? And what are the benefits of doing so?
Ideas for Celebrating Startup Wins
These are some of the best ways that you can celebrate your startup wins, whether you’ve just hit a major milestone or whether you’ve just secured a little victory.
- Host a team dinner. Your celebrations don’t have to be extravagant or even formal; sometimes, a simple team dinner is all it takes to properly acknowledge and reward your team’s effort. A free dinner is something almost everyone can get behind, and it’s a great opportunity to informally chat with each other and catch up. This is also a relatively inexpensive form of celebration, and one that your employees are likely to remember long term. Choose a restaurant or a meal that’s a bit out of the ordinary if you want to make a lasting impression.
- Raffle off a luxurious prize. A luxurious prize, like a diamond tennis bracelet or a new tech device, might be a bit expensive as a gift for every employee – but you can definitely afford to buy one and raffle it off to the team. This is especially valuable if you set it as a potential prize to win if you achieve a certain goal. The only downside is that not all your employees will benefit from this piece, and some of them may be jealous if they don’t end up winning it.
- Upgrade the office. If you want to reward all your employees in some way, consider celebrating your win by upgrading the office. You could add a new break room with a pool table or a dartboard, you could renovate the office so it’s more comfortable and more aesthetically pleasing, or you could establish new offices for the employees most responsible for helping you achieve this win. No matter what, you’ll be improving the environment for the entire team and your team members will be grateful.
- Start a new teambuilding event. If you want to take things in a more interactive direction, consider hosting a teambuilding event. Teambuilding events come in many forms, so you all have significant flexibility in how you plan and execute this. Depending on where you live and what the interests of your employees are, you could go kayaking, attend a murder mystery, or even design a small scavenger hunt. The point is to get your employees to work together in a fun and casual setting.
- Offer cash bonuses. Most of your employees would greatly appreciate a cash bonus, even if it’s a small one. If you have the budget for it, consider throwing everyone a bit of extra money they can use however they see fit.
- Throw an appreciation party. Another option is to throw an appreciation party for all the people who work for your organization. Rent out a new space or have the party in the office; it doesn’t really matter as long as you have enough entertainment to keep your employees engaged. Snacks, drinks, and good music are all it takes to turn your environment into a thriving social hub.
- Take a mini vacation or break. Finally, consider taking a mini vacation or a break, especially if you’ve had to sprint exhaustively to get to this point. Give everyone the Friday off, grant some extra PTO days, or just let everyone go home early for the day.
Why Celebrating Wins Is So Valuable
Why is celebrating even the smallest wins so valuable for startups?
- Rest and reflection. After tough effort and a multitude of problems, it’s important to have some time to rest and reflect. Celebrating a win is an opportunity for your employees to decompress, think about how they worked, and de-stress so they’re ready for the next set of challenges.
- Overall morale. Companies that take the time to celebrate wins tend to have higher overall morale. Your employees will be happier and more satisfied with their work.
- Higher productivity. Happier employees are more productive employees. Your team members will be much more likely to put in work when they know that their work will be recognized. You’ve given them proof that efforts are rewarded and that at the end of every tough journey is a moment of rest and recognition.
- Employee retention. Employee retention is more important than ever. If your employees are happier, more productive, and they feel like they’re truly appreciated, they’re going to be much more likely to stick with your organization.
When your startup accomplishes something significant, recognize the milestone achievement and take the time to celebrate it. Your celebrations don’t have to be expensive or time consuming, but every recognition is going to boost team morale and make subsequent achievements more likely in the future.