7 Quick Tips To New Entrepreneurs & Startups
Updated: May 8
Always communicate your Business Vision + solution successfully
In a startup, you begin with a “nothing and no one”. Hence you have to communicate an idea to other people so as to get them excited to work with your Business vision.
Startups work best when you work with other people as equals--rather than having a hierarchy. You'll have to converse the vision to current and potential employees, investors and patrons, and rather everyone else who is around you. If you can't articulate your tale, its better to work with someone who can.
It's nearly impossible to find a person with all the necessary skills to run a start-up alone, so know your weaknesses and hire people for whom those skills come naturally or with in-born talent.
Avoid being tagged as the “smartest guy” amongst your Start up Team.
This helps to focus on your company’s goals rather than getting into things which may not be as productive in a longer term as you may think.
Focus on being a great leader instead of a great doer. Surround yourself with the best experts and employees you can find so that you're never the most knowledgeable person about anything other than the future of your company.
Enjoy What you Do in Your Business
What you get out of your business in the form of personal contentment, monetary gain, permanence and enjoyment will be the sum of what you put into your business. If you don't enjoy what you're doing, in all likelihood it's safe to assume that will be reflected in the success of your business or subsequent lack of success. In fact, if you don't enjoy what you're doing, chances are you won't succeed.
Think on people ,not on ideas.
Look for 3 things in a budding start-up: market, team, and concept. The team is by far the most important element, and the second is market. The idea itself is the least important A great team trumps a great idea every time. None of us is perfect, and entrepreneurs are usually great at a couple of things, such as having vision and being willing to take risks Entrepreneurs--especially tech entrepreneurs--come in one of two flavors: Either they're visionaries who understand the market but aren't technically proficient, or they're technical geniuses who don't understand how to market to customers. In either case, having great team members can fill in any areas where the entrepreneur lacks strength.
Start up Lean & Start up Small.
It’s better to startup any business with zero / low money, and just find out for a free or low-priced services to start with. Only after you start making some revenue you can start paying for anything, or hire anyone. Make money as soon as possible by selling something valuable. Also its been seen that people try to build their new business into a massive launch, but this is a gaffe. Start as small as possible, giving a minimum viable product to a few friends, and let them test it out. Then a few more people. When you try to do something massive at launch, you make it less likely that you’ll actually start, and you’ll take forever to launch, and you’ll build yourself up for failure, and you’re building something massive without any thought of whether it works or if people like it. Launch is just one moment in the lifespan of a business, and it’s not even one of the most important moments. What matters the most is how long the business survives not how big the business is.
Zero Dollar Launch
There is no need to have a lavish office to have a startup. You can start from home and start with friends on whom you can trust. You don’t need to have an office for most businesses … even a cupcake business doesn’t need a shop — at least not at first. Start with no extra money, in your spare time if you have to. Let your first customers be your friends, and ask them to be brutally honest. Then let them spread the word to their friends. Having friends who are doing fascinating things is inspiring, and they will give you great advice and feedback. The people around you, and their positive and inspiring attitudes, matter.
Understanding Your Client As a Startup you must be aware that your clients already know more about your product or Services category than they really want to know. Pick any product or service category and you'll find its customer base is drowning in a sea of knowledge and information more than you posses hence the Hence do not try to impress your clients with complexity, instead offer them Simplicity.
While your clients know that your job is to sell, they resent it whenever if feels as if you're trying to sell them something. They impede to listen the moment you jingle like just “another sales guy." They want to buy your product or service ,rather than to be sold to. You may deeply believe that your company is marvelous, your products and services are astonishing and your service is unparalleled. But your clients don't care what you feel or how you view your industry. It’s better to provide your Clients bona fide evidence by performance, rather than selling them empty promises.
Clients already face plethora of challenges. They don't want you to create new ones, especially if you're just re-framing existing challenges to fit whatever solution you're selling. As a startup, provide them solutions not questions. Help them with solution, rather than confusing them with more stuff to worry about.