The document outlines five reasons why startups should prioritize knowledge management: focusing on critical knowledge, preventing the reinvention of past mistakes, retaining expert knowledge as workforce turnover increases, fostering a knowledge-driven culture, and understanding that technology alone is insufficient. Startups must document and capitalize on lessons learned to avoid losing valuable insights. By embedding knowledge management into their core values, startups can enhance collaboration and productivity.

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5 reasons why startups
need knowledge
management
Jose Carlos Tenorio Favero

2. © Copyright 2014. Grupo Graña y Montero. Todos los derechos reservados.© Copyright 2014. Grupo Graña y Montero. Todos los derechos reservados.
José Carlos
(@josecarloskm)
Head of KM and training (GMD S.A)
Chief Evangelist (Carambola Marketing & Communications)
Author & Blogger
But above all…passionate about what I do

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1. Critical knowledge gap
is real
As opposed to other companies, startups need to focus on
critical knowledge that will help them get through the first
stages of development.
This means that focus on critical knowledge will rest on
developing their product/service, time-to-market, processes
and product efficiency and other essential elements required
in the opening stages of business.

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2. Avoiding “reinventing
the wheel” moments
Small companies share the advantage of having people close to
one another. Although this helps collaboration, when
experiences are not documented and capitalized formally as
learning moments, it is likely that mistakes will pop up again and
that critical knowldge is lost when experts leave the company.

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3. Knowledge remains,
people don´t
It’s no surprise that Millennials, in comparison to baby boomers,
are not looking to stay a long time in organizations. The major
risk, however, is to lose critical knowledge. Small firms need to
guarantee that expert knowledge remains and that is readily
available to all.

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4. A knowledge driven
culture is vital to ensure
success
When companies develop knowledge management from the
very beginning, it is more likely to become part of it´s core
values and habits. As it begins to grow, people are more likely to
collaborate, share experiences and turn knowledge
management into a core foundation for success.

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5. Technology alone
won´t do the job
Usually small companies believe that investing in social tools and
collaboration software is enough to get the job done. However,
technology won´t resolve major issues such as identifying critical
knowledge gaps and developing a knowledge driven culture.
This will in turn, impact organizational productivity.