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Tips to make sure your startup doesn't fail

Tips to make sure your startup doesn't fail

Monday March 06, 2017,

6 min Read

It is not a surprise at all to know that lots of startups fail within few months, and in the past, no one could identify the exact reasons because it is a web of complex and interplaying elements. But recently, there has been some research regarding the failure in startups, and thanks to these researchers that they gave us some valuable information so that we can use it to make ourselves successful in future. There are multiple things that will ensure that you succeed, and here is a list of these things

1. Know Your Purpose

Your purpose is the most important thing in your life, and if you want to succeed, you must have a very strong purpose in your life. While you struggle hard to find your purpose in life, you need to address two questions, and these two questions are related to how you can be useful to others: the first question is what is the problem or need that you are addressing, and the second is that why people will care. If you can answer these two questions, you can proudly say that you know your purpose.

2. Doing Something that You Love

When you do something that you love most, life seems like a paradise to you because you don’t feel any boredom in life, and even the most difficult tasks seem nothing but toys to play with. That is why wise people always say that choose a work that you love and you wouldn’t have to work even for a single day. In a similar manner, if you are doing something that you love, you will never lack motivation and inspiration. If you do what you love, money will follow you.

3. Believe in Yourself

If you aspire to be successful, then consider belief to be your best friend. If you keep on doubting about your aims as well as your qualities, you will get nothing but failure. You must keep in mind that if you are giving your hundred percent energies to work, you will certainly succeed. All you have to do is find confidence, and success will find your way itself. "The person becomes successful, the moment he believes in himself" says Joe Cole, Marketing head at Game Period.

Absolute belief is something that is very difficult to achieve, especially in this world when everybody is so jealous of your work, and where people keep on criticizing and discouraging you all the time. You can achieve self-belief in steps: you keep on trying, and success will certainly follow you.

4. Surrounding Yourself with Supporting People

If you are in the company of people who always keep on degrading you, then know this instant that they are crippling your abilities. It is highly important that you put yourself in the company of those people who support you, and if this is too much, keep yourself away, at least, from those people who are constantly putting you down. The problem with the company of degrading people is that when you keep such people’s company, you become defensive of your thoughts, and you learn nothing new.

In order to learn something, you must openly express your thoughts and opinions, and you should always appreciate the expert opinion, but degradation is something else. It leads you towards pessimism. You must keep the company of optimistic people.

5. Valuable Criticism

On one hand, you must avoid relentless negativity, and on the other, you need a positive and valuable criticism that you can use to improve yourself. The best thing about valuable criticism is that you come to know about your weak points, and this gives you intelligence to make proper strategies for your further endeavors. If you are looking for marketing consulting or counseling."If a person listens to his critics carefully, then he can never fail in life"says James Root of Daily Deals Coupon.

Only sincere people can give you the valuable criticism. Valuable criticism means making you optimistic about the future and encouraging you to learn from your mistakes.

6. Keep Learning

Never overestimate yourself, and never think that you know each and everything about your business because there is always more to learn and you can never say that you have learned everything. You keep on learning and you keep on improving your business – these two things go parallel with one another. Many startups fail because the owners after few months think that they have learned everything, and thus limit their productivity themselves.

Learning is a process that lasts forever. If at any time in your life you stop learning, you are considered dead: dead not in the literal sense, but a sort of social death which happens when you are unable to go parallel with the always changing society.

7. Serve Your Customer

You might be the owner of the company but your first priority is to serve your customer. Vanity is something that can bring your business to ashes. Each and every decision of your company must be taken keeping in mind the customers, and no decision should be prioritized that is for the sole benefit of the company.

If the customers are satisfied, they will keep on returning again and again, and if it happens there finally comes a time when the customer has built such a strong relationship with you that he doesn’t even think of going anywhere else.

8. Finding out What Customer Wants

You can never assume blindly that your customer wants this or that. You have to know exactly what your customer demand, and you can know this by many ways. You can arrange surveys, you can ask customers directly and you can also focus on the targeted audience. All these things will help you to make the base of your business strong.

9. Long Term Planning

You must make long-term planning keeping in mind the shares and the demand for the products that you are offering. Long term planning is beneficial because, in long term planning, you set goals for yourself. And when you set goals, you work hard enough to achieve those goals. If you will keep on distracting yourself with the minutest details and short term planning, you cannot achieve maximum.

10. Network Online

In modern days, if you can utilize the power of the social media, you can achieve anything. Social media help you to connect with most potential employees as well as can be used to spread awareness about your company.