6 ultimate tips for your startup to be successful
India is one of the largest startup hubs in the world. If you are starting something new, this story will help you with 6 ultimate tips, you need to follow, for your startup to be successful in the startup ecosystem.
Everyone wants to be successful. Whether you are starting a business, company, blog, startup, any online business, YouTube channel or any small or large thing, few things you need to follow to become successful.
If you are putting everything for your business and not getting the result or you are making a product and unable to sell, or you have started a technology startup, but not getting clients, then your startup becomes unsuccessful. Out of 100%, 75% of startups fail and the rest succeed.
I am sharing 6 ultimate tips for your startups to be successful.
1- Get Topic or Idea based on your Passion
First and foremost things is the idea, topic or the business you are choosing for your startup. Analyze your passion first and then choose a topic or try to build a product which you are passionate about. You can be successful, only if you can solve people's problem. That will be possible if you are passionate about it. You need to be innovative, most startups fail because of lack of innovation.
For example, if you want to build a product, choose an idea to build the product, you are passionate about, else you will not be able to build the product. A product will be used by people if the product is solving their problem. And if you no one buys your product, no one uses your product, your startup becomes unsuccessful.
Another example, if you want to become a blogger or you want to take blogging as your profession then choose a blog topic for your passion first. Then only you can write more, focus more and you can discover more. Without passion, it will be very hard to write and understand your readers and make the blog popular.
2- Choose your Co-founder and First Employee Carefully
Statistics say lots of startups fail in the early stage itself, because of disputes between the founders and co-founders.
You need a TEAM to build something successful, so very wisely choose your co-founders and employees. For a startup or products, you will have product team, sales team, marketing team, business development team. Choosing a wrong co-founder can make your startup fail overnight, can spoil your whole business, but a right co-founder can make your startup successful in the long run. Everyone has their own strengths and weaknesses, you have your own. Do not choose a co-founder like you, rather choose a co-founder who is complementing and correcting you in the right way, for your future company. Choose co-founders who can share your responsibilities.
When you are choosing your first employee, choose carefully and once you got your first employee, invest in your employee(s). Make your employee truly part of the team. You need dedicated, passionate, talented people for your startup.
3- Trust on Technology and Tools
From development -> Marketing -> Sales till your product reaches to end user, you can speed up things by using right technology and tools. Use current market standard technologies and tools for your product development. You can use social networking channels to market your products. As an Entrepreneur, you need to adapt quickly to emerging tools, technologies, and platforms.
Use various content management and collaboration tools to increase your team's productivity. Do not hesitate to pay, when it adds value to your business.
Tools like Microsoft SharePoint and Microsoft Flow can increase your team's productivity drastically.
4- No FREE Stuffs And Don't Restrict your Customers
Most of us, when starting something we usually looking at FREE stuff. Try to avoid any free kinds of stuff for your business or startup. Do not trust fully the tools which are absolutely free.
Similarly, if you are selling a product, do not sell it for absolutely free. Follow a free premium model or few days trial model where your customers can check your product and features before buying for it. Never restrict your customers trying your product, your product will be successful only when more people use the product.
5- TO DO List
When you have a startup, you need to do a lot of things. A To-Do list will make your day more productive by priorities your time, helping you remember what is important for you. You can also batch related tasks. Rather focusing on all the things, priorities few things and work on those items only for that particular day.
You can track your progress, from a to-do list. By EOD, you will be able to know what is completed and what is not, you can know your accomplishment and progresses day by day.
6- Give Time & Have patience
You can not be successful overnight, things will take time. Any successful company you saw, behind the scene there are lots of dedication, hard work & time invested in it.
Lots of time, founders losing focus and become impatient and shut down the business. Keep faith in your product, on your idea before thinking to shut down things.
Have patience, stay focused, companies like Apple, Microsoft took years to be successful.
How has the coronavirus outbreak disrupted your life? And how are you dealing with it? Write to us or send us a video with subject line 'Coronavirus Disruption' to firstname.lastname@example.org