Today, many people are considering starting a startup business and want to showcase their skills. But they just doubt their own capabilities and finally a good idea may die without its execution. For succeeding in business the foremost thing is to keep patience and to have adaptability. Also stated by Henry Ford, founder of Ford Motor Company, “Whether you think you can, or think you can’t–you’re right.” So, if you want to be a successful startup founder, below there are few facts you have to familiarize before actualizing your dream of a startup:
1. Be customer friendly:
As a startup you have no idea where your next customer is going to come from, be ready for that and try all possible ways to acquire those potential customers. The elementary trick for a successful business is a happy customer who can iterate the happiness to many more and bring another one too, try to adapt changes according to customers’ needs and finally greet them well. Amazon is customer friendly e-commerce business; they are having huge product lineup, fast shipping and easy return policies and hence attract lots of customers.
2. Be a Game changer- Try fast and fail fast:
In this proactive world of startup, in long run a startup will not always be a startup, either it may be a successful business story or it may be a failed idea. So, try fast and don’t afraid to fail, as overall success depends on the fact that how quick you try, fail, learn and try again, huh… it is a continuous cycle. Founders should learn faster and pivot to new options, thus reducing the risk of outright failure. Unlike Nokia, Samsung adapted changes quickly and finally we all are aware of the outcome.
3. Be active- Always keep moving target:
According to startup definition “a startup is started to search answers for the problem whose solutions are still unknown. So, in spite of old business ideas and their strategy this time game is different. One should be spontaneous in seeking, achieving targets and aligned the product with customer’s needs. Unlike a decade ago, you can no longer freeze the specs and start developing a product. Today you can get an instant feedback from customers and have to make changes in plan accordingly. Microsoft is updating windows and its product approximately in every three years now, to meet the changes going in the market place.
4. Be ready for ambiguity:
Yes starting a startup may be a roller coaster ride for you. Be ready for challenges every day, every moment and at every step in whole practice of a startup, try to cope up with these ups and down and follow your dream ambition. It’s wise to stop assuming that the most likely outcome will turn up at the conclusion of every situation. A successful company prepares for multiple outcomes regardless of what’s expected.
5. Be a risk taker:
You will miss 100% if you never take a risk. For starting small and making big from it, don’t be afraid of taking risk. Analyze the proper demand, take timely action and achieving your goal are the key components for the success. A successful entrepreneur is the one who embraces change and looks forward to a constant flux of new information and is always trying for improvements.
These are some of the different ways which a founder has to quickly adapt to the fast changing startup landscape. However, global triumph depends on type of business, market position and potential of a founder to deal with the problems.