24 Sep 6 Steps To Build A Successful Startup
People often have this big vision of one day working for themselves and doing something they are passionate about. In most cases, they just end up dreaming and never get anything off the ground. I find this is because most budding entrepreneurs don’t seem to know how to get from ‘idea’ to ‘established and making money’.
It can be tough not knowing how to make this transition or having someone there to guide you along the way. Most startups don’t fail, their founders just give up too soon. Here are 6 steps to ensure you are on the path to build a successful startup:
Solve a Problem
The first part of any business idea is being able to solve a problem that would benefit others. If you can create convenience for others or discover something that is missing, more than likely people will be willing to pay for that product or service.
Lay The Groundwork
Simple planning for your business is a must, it doesn’t need to be elaborate but putting together some basics like a mission, vision, one-page business plan and a SWOT analysis can be vital in the startup process. This will help you lock down your idea and establish how you’re going to market your business and get paid. It will be hard to progress and move on without validating your product or service with the market.
You’ve done a little bit of work on your great idea, now you just need to start! You don’t need to start right, but if you don’t start you probably never will. There is nothing in the way of you starting your business except you. Make a list and start by doing the first thing that needs to be done.
Surround Yourself With Like Minded People
As the saying goes “you are the average of the five people you spend the most time with,” so yes people do have a huge impact on your life. You want to around people who inspire you and push your boundaries. You don’t see growth by doing the same thing, you need to step outside your comfort zone. Being around like-minded people will start to affect your chances of success and help boost your self-control and confidence.
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In the first few years of the startup phase, you will find you will need to pivot and adapt to what the market is telling you. Take on constructive criticisms and make changes where necessary. This is a positive process in order to prioritise exactly what your audience wants and what is going to be most beneficial to you as a business and your customers. Never stop listening to your customers and analysing your target audience.
The biggest asset any entrepreneur can have is the ability to persevere. Success is not going to happen overnight, but if you invest in yourself, plan and continually monitor then it will happen. A wise woman once said to me, “the key to success is to outlast”.
When the going gets tough, don’t give up! Take a break, re-evaluate, reset and just keep going.
If you’re looking for some more guided information with checklists, documents and templates check out my online toolkit “Ultimate Business Toolkit: For Startups“. Great to help you get started and checking off all those to-do items.