What Makes A Successful Startup?
What makes a successful startup?
To many, a company is a company. A brand is a brand, and a startup is a startup.
Or is it?
Startups are unique in many ways, but they can also be scary to launch. After all, you’re practically investing you’re whole heart and soul (and wallet) into trusting that the big idea will take off. Startups are an entirely separate beast that many fear an attempt to tame. Don’t be afraid, for there are many tried and true methods that have proven success for many renowned startups. Here are a few of our tips for getting your brand to startup success.
1. Start with a fool-proof plan.
Begin with your team analysing and coming up with a plan that can’t be broken. Plan what you’re going to do, in what amount of time, and within a said budget. Poke holes in it, ask questions and be critical as if you were an outsider. Working out the kinks in your startup plan will help overcome would-be road blocks down the way. Once the criticism stage is done, focus on your goals and mission of the brand. Keeping these mantras and visions in mind will help everything from then on to fall into place.
2. Know your team.
Whether you are leading the herd or thinking of taking a leap to join someone else’s, it’s key to learn everyone’s work ethics, style and dynamic in coming together for the sake of a startup. Getting to know your team in depth will pay off, especially since you’re likely working with a small team to begin with. Identify people’s strengths, even if they reside outside their official “titles.” Working with a great group of motivated people will form a solid core to your startup. Have people along your side who will work just as hard as you do.
3. Keep your idea simple.
Good ideas are simple. A new product or services should be easy to understand for your team and also for your target customers. Is your new idea something you could explain well in less than 30 seconds? Does it makes sense to someone who essentially has no background on the brand? Think about how much time a prospect may have with your product or service, and make that small amount of time count. The same concept can apply to pitching investors; you may only get one shot, so be sure to sell them quickly in showing what makes your brand great.
4. Have faith in your brand.
Ever hear the expression, “Dreams don’t work unless you do”? In many startup cases, people with bright ideas took a leap of faith and had confidence that their business plan would be successful. In all honestly, action doesn’t happen within comfort zones. Virgin Mobile CEO Richard Branson once stated, “It is your vision that will give you success, not your venture capitalist’s vision.” Don’t disvalue your idea if one person doesn’t understand. Take collective input on your startup, and keep working toward your vision.
The startup world can be a bit scary, but simplicity and comfort are not what’s driving your dream in the first place. You’re going to be working some long and hard hours, that’s certainly the nature of the startup. Late nights, brainstorming, seeking advice, it’s all a part of the gig. But at the end of the day, you’re going to do whatever it takes to get your brand up and going. The most important thing you can spread among your team and your brand altogether is passion.
What are your tips for working toward a successful startup? Tell us in the comments below!