When you start a project, enthusiasm, strength and passion are typically your main drivers, but unfortunately all these values have an expiry date. Only 15% of online businesses pass the 2-year barrier. If you want your startup to work bring with you this survival kit that will allow you to overcome the initial phases!
Here are 5 tips to overcome the initial phases for successful startups!
Successful startups have a scalable business model
The business model has to be scalable. The scalability of a business model is one of their most important attributes. A scalable business will allow the entrepreneur to test his idea, and change it if needed to adapt to the market.
Live commitment and dedication
Stop looking in the mirror. Although you may be "very handsome" without work and perseverance you won’t get anywhere. Being an entrepreneur involves commitment and dedication. Projects that only look themselves tend to fail miserably.
Build a strong team
The team that you surround yourself with will be crucial for success. Search complementary profiles that can bring different things to the startup, but above all use emotional intelligence to positively influence other workers.
Fiscally responsible
The financing is key in the initial stages at any startup. Any new company, or startup, which is marked by a clear element of risk, needs a financial cushion to cover possible contingencies. Funding can become a real headache for the creators. Depending on the phase of the startup may need a different type of financing: Business Angels, Venture Capital, etc.
Give to get
Give to get. The entrepreneur is part of a business ecosystem with rules. To get others to support you, you should offer something that provides value (although any startup in its initial phase will have a shortage of funds). A good example of this point would offer employees shares in the company, or what is the same, the promise that if things go well, everyone will benefit.
Startup marketing plan template
The back bone of your success will lie in how you are able to market your business. How will you get the word out about the brilliant product or service you have? Set your self up right with the basics of a successful startup marketing plan. We've put together an ebook that will point you in the direct of a success startup marketing strategy, you can access it here.
