Tips to make sure your startup doesn't fail
Tips to make sure your startup doesn't fail
12 Dec 2019

Tips to make sure your startup doesn't fail

byBhavesh Dave
Tips to make sure your startup doesn't fail

As an entrepreneur, I was aware of the chances of success when I started my business. But I took the courage in both the hands and started this company 8 years back. I have passed through many ups and downs these years. At the same time, I also met many of my clients whom I help with creating an outstanding online presence for their start-ups but I find them nowhere continuing with the same in a couple of years. This influenced me to come up with writing this blog and share some of my thoughts that really matter to prevent any start-up from failure.

Clear the confusion track and run to the decision:

If you are the one who is still confused about what would be the best idea to come up with among hundreds. I would first like to help you out to make this worth reading for you. First of all, start looking for things that are demanded and then try to make lives easier by fulfilling those demands. If you have an innovative idea than the product is like a diamond for you. But, if you are not sure, how you can convenience the people to get it? I suggest you not to move forward.

Don’t waste your time calculating too much for profit, better to invest time on looking for how you can help people around you with your product. No money is and should be a mere incentive but a means to push the business towards success. Try to convert your idea into ‘Pilot project’ initially if finance and time is a constraint for your start-up.

Make sure you are passionate about your business:

I advise you to choose a work that you love and you wouldn’t have to work even for a single day. Similarly, if you are doing something that you love, you will never lack off motivation and inspiration. Money is rarely a good reason to start a business. The financial aspect is not the fuel that keeps a business running. 

Strong Business Plan:

Planning in any business always plays an important role in any start-up.                       Without vision, mission and objectives, the business does not exist. Determine the focus of your business, you can map the future, through which you will be able to make funding, and it will help to attract team members too. All it takes is an efficient business plan, the dedication to follow and the wisdom to notice when you have to make changes. Also, make sure your product/service is what actually the market is seeking.

Manage finance efficiently:

This responsibility starts right from day one when you incorporate an idea of start-up for raising right amount of capital. It is better to not focus on turning huge profits initially but still keep records of every single transaction to understand your finance and business better, hence make better decisions and fewer mistakes.

Negotiate everything:

Keep in mind that the price you are quoted for has a healthy proportion of profit margin. It’s worth remembering the most important rule for a discount: if you don’t ask, do won’t get.  this may seem minor but such minor discounts matter a lot to a startup.

Surround with supportive head, heart, and hands:

Don’t make mistakes of spending way too much time working alone. Working alone for long periods of time may allow you to get code banged out, or think clearly without interruption, but beyond that, it’s not conducive to the long term success for you as an entrepreneur. If you are really going after a game-changing concept or something big it is good to have the right partner who can help carry the workload and keep the vision or dream going when things get tough. Never miss an opportunity to make industrial experts and successful entrepreneurs your mentor to gain wisdom from their experience and discover insights that you would never have before to make your light shine in the right direction. Learning from their successes and failures will accelerate your growth process.

Focus more on “serving” your customers rather than just“selling”:

This doesn’t mean to keep your revenue in deficit, but one should focus on relationship-driven business. so, you will be more likely to succeed. People buy from those whom they trust and rely upon. Serving customers instead of selling them is a long-term approach, when you satisfy customers with your product or services, they will most likely buy from you. Good marketing makes the business look smart while great marketing makes the customer feel smart.

Network Online:

Networking has been the lifeblood of any new business development to connect with their potential employees; partners, clients, providers, or people that can promote your product or service and online networking has been a huge component these days.                                Online networking doesn’t mean getting more LinkedIn connections and having a presence across all the social media channel that is available- I am talking about more of the quality then quantity. You never know what opportunities you will discover through online networking. Stay updated with best online networking techniques that are innovative yet budget-friendly for you.

Stay Hungry to learn:

When you stop learning you stop growing. Keep yourself always open for learning from the experiences no matter bad or good even though if it is your experience or others expand your knowledge, and think with a different perspective.

Future Proof your business:

This is very important for your start-up to sustain and grow up fast in the market. It is a strategic move to stay ahead of challenges and allow embracing opportunities as they arise. New trends, technologies, and developments all can improve your business and keep you ahead of your competition. Also it means to invest profits back into research and development. The biggest shift for modern business is towards online and digital technology. Always be open to diversify your products and operations to remain relevant in changing times. Newer products and services can reach a wide audience and allow businesses to expand into new markets.

Believe in yourself, work hard and don’t give up:

Last but, the most important point of writing this blog is to make sure that you will be the next in the list of strong entrepreneurs, who never give up. Running a start-up is truly like riding a roller coaster that never stops. Shift your focus from “problems” to “opportunities”. If you keep focusing on your problem, i.e. your business is not making enough money right now. all you get is worry and anxiety. The most effective way I know how to shift from focusing on problems into seeing opportunities is by measuring your marketing metrics like your website. It is one of the most important marketing metrics these days.

y 8 years back. I have passed through many ups and downs these years. At the same time, I also met many of my clients whom I help with creating an outstanding online presence for their start-ups but I find them nowhere continuing with the same in a couple of years. This influenced me to come up with writing this blog and share some of my thoughts that really matter to prevent any start-up from failure.

Clear the confusion track and run to the decision:

If you are the one who is still confused about what would be the best idea to come up with among hundreds. I would first like to help you out to make this worth reading for you. First of all, start looking for things that are demanded and then try to make lives easier by fulfilling those demands. If you have an innovative idea than the product is like a diamond for you. But, if you are not sure, how you can convenience the people to get it? I suggest you not to move forward.

Don’t waste your time calculating too much for profit, better to invest time on looking for how you can help people around you with your product. No money is and should be a mere incentive but a means to push the business towards success. Try to convert your idea into ‘Pilot project’ initially if finance and time is a constraint for your start-up.

Make sure you are passionate about your business:

I advise you to choose a work that you love and you wouldn’t have to work even for a single day. Similarly, if you are doing something that you love, you will never lack off motivation and inspiration. Money is rarely a good reason to start a business. The financial aspect is not the fuel that keeps a business running. 

Strong Business Plan:

Planning in any business always plays an important role in any start-up.                       Without vision, mission and objectives, the business does not exist. Determine the focus of your business, you can map the future, through which you will be able to make funding, and it will help to attract team members too. All it takes is an efficient business plan, the dedication to follow and the wisdom to notice when you have to make changes. Also, make sure your product/service is what actually the market is seeking.

Manage finance efficiently:

This responsibility starts right from day one when you incorporate an idea of start-up for raising right amount of capital. It is better to not focus on turning huge profits initially but still keep records of every single transaction to understand your finance and business better, hence make better decisions and fewer mistakes.

Negotiate everything:

Keep in mind that the price you are quoted for has a healthy proportion of profit margin. It’s worth remembering the most important rule for a discount: if you don’t ask, do won’t get.  this may seem minor but such minor discounts matter a lot to a startup.

Surround with supportive head, heart, and hands:

Don’t make mistakes of spending way too much time working alone. Working alone for long periods of time may allow you to get code banged out, or think clearly without interruption, but beyond that, it’s not conducive to the long term success for you as an entrepreneur. If you are really going after a game-changing concept or something big it is good to have the right partner who can help carry the workload and keep the vision or dream going when things get tough. Never miss an opportunity to make industrial experts and successful entrepreneurs your mentor to gain wisdom from their experience and discover insights that you would never have before to make your light shine in the right direction. Learning from their successes and failures will accelerate your growth process.

Focus more on “serving” your customers rather than just“selling”:

This doesn’t mean to keep your revenue in deficit, but one should focus on relationship-driven business. so, you will be more likely to succeed. People buy from those whom they trust and rely upon. Serving customers instead of selling them is a long-term approach, when you satisfy customers with your product or services, they will most likely buy from you. Good marketing makes the business look smart while great marketing makes the customer feel smart.

Network Online:

Networking has been the lifeblood of any new business development to connect with their potential employees; partners, clients, providers, or people that can promote your product or service and online networking has been a huge component these days.                                Online networking doesn’t mean getting more LinkedIn connections and having a presence across all the social media channel that is available- I am talking about more of the quality then quantity. You never know what opportunities you will discover through online networking. Stay updated with best online networking techniques that are innovative yet budget-friendly for you.

Stay Hungry to learn:

When you stop learning you stop growing. Keep yourself always open for learning from the experiences no matter bad or good even though if it is your experience or others expand your knowledge, and think with a different perspective.

Future Proof your business:

This is very important for your start-up to sustain and grow up fast in the market. It is a strategic move to stay ahead of challenges and allow embracing opportunities as they arise. New trends, technologies, and developments all can improve your business and keep you ahead of your competition. Also it means to invest profits back into research and development. The biggest shift for modern business is towards online and digital technology. Always be open to diversify your products and operations to remain relevant in changing times. Newer products and services can reach a wide audience and allow businesses to expand into new markets.

Believe in yourself, work hard and don’t give up:

Last but, the most important point of writing this blog is to make sure that you will be the next in the list of strong entrepreneurs, who never give up. Running a start-up is truly like riding a roller coaster that never stops. Shift your focus from “problems” to “opportunities”. If you keep focusing on your problem, i.e. your business is not making enough money right now. all you get is worry and anxiety. The most effective way I know how to shift from focusing on problems into seeing opportunities is by measuring your marketing metrics like your website. It is one of the most important marketing metrics these days.