10 Tips for Launching a Startup
1. Search for Your Passion
Entrepreneurship is like swimming in deep waters. There’s the uncertainty, moreover the need to invest a large amount of time, and effort. Not only that but also facing numerous challenges that you might not be prepared for. You will feel loaded, frustrated, and sometimes even depressed. If you are not working in an area that you are passionate about, you will end up among the statistics of failed startups.
2. Don’t Fall in Love with Your Idea
In other words, be willing to change your initial thoughts, and plans. History is full of startups and other big names who have fallen in love with their ideas, resisting customers feedback, and market demands. Yes, you need to love the area you chose, and love what you do, but you need to be agile enough to alter according to customer and market otherwise you will develop a product no one needs.
3. Plan Well
Start with a solid business plan, adjust and monitor it closely. Yet, a business plan alone is not enough, time planning and setting priorities are as important as time is your asset.
4. Embrace Change
Startups come with numerous challenges. Every day brings in something new. In startups, Change is the name of the game. You need to be able to bounce back from adversity. Embracing change requires developing resilience and flexibility, qualities that you will not only lean on but will act as your floaters in times of uncertainty.
5. Start Networking Early
Networking will help you make connections. When it comes to business, connecting with others from different industries and walks of life is of high importance. Networking will help you push your product forward, getting it to be known within the market and spread the word about it. It will likewise help you know people with diverse experiences and facets thus lending you a helping hand when needed.
6. Attend Events
Whenever you find a related event to your startup or industry, make sure to be there. This is useful for several reasons. First, a chance to network and, get to know more people whether within your industry or not. Second, it’s a chance for you to market your business. Third, you will learn a lot from what you see or hear.
7. Learn to Present Yourself
Learn to speak up, introduce yourself, and talk about your business. Learn how to do an effective presentation. Business etiquette during meetings and events is of equal importance to the content presented.
Moreover, how to do an elevator pitch. This is not a luxury, it is essential, as it helps customers and other entities develop an impression about you, your business, and what you stand for. Furthermore, presenting yourself and your business will help you pitch for funding successfully. Invest in coaching and training that could help you through.
8. Develop the Right Mindset
We cannot ignore the importance of gaining profit and revenue from your business. Yet, if you look at it as the only perspective, you will get frustrated whenever losing a deal or not achieving much. Instead, focus on learning, absorb everything, consider it a chance to learn a lot about the business, industry, and even yourself.
9. Use a Strong Support System
Surround yourself with people who encourage you. Those who help you get up when you fall. Non-judgemental people who can support and listen when you need to think out loud.
10. Start Small
Don’t go on full fledge. Take one step at a time. This will help you keep things simple as you learn on the go.
It takes a lot of courage to launch a startup, not easy to jump into unguarded deep waters. Every day brings in a new challenge, actually many. It is hectic and exhausting. Success is not around the corner. The journey is long, sometimes you cannot see the shore.
Yet, the rewards are astonishing, the least is money. What is more rewarding is waking up every morning knowing you are pursuing your passion. Armed with the right luggage, you will eventually get there. One day, you will sit back and enjoy your success, knowing that chasing your dream was all worth it.
1Allyson Eman 2017, 5 Examples of Innovative Startups with Great Company Culture, Accessed 20 June 2021, https://www.ventureatlanta.org/startup-culture/
2Aj Agrawal, Startup Grind, 5 Realistic Tips to Build a Successful Startup, Accessed 20 June 2021, https://www.startupgrind.com/blog/5-realistic-tips-to-build-a-successful-startup/
3Mike Kappel, Forbes, 2017, 10 Tips For Starting A Small Business That You Haven't Heard A Thousand Times Already, Accessed 20 June 2021, https://www.forbes.com/sites/mikekappel/2017/07/12/10-tips-for-starting-a-small-business-that-you-havent-heard-a-thousand-times-already/?sh=4dd914c16e19
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