Launching your startup is definitely no easy feat. If you have a great idea for a startup and have been contemplating going forward with it, these 10 tips will help you start your path to entrepreneurial success.
- Stay in motion.
Many people come up with great ideas only to convince themselves it’s not worth the effort to start working on them, or that they don’t have the skills to see it through. No matter how big your vision, success begins at the starting line. Don’t overanalyze and hesitate. Focus on what you know and the take the step forward to persevere. - Be focused but willing to adapt.
Pick one of your great ideas and figure out how you are going to master it but be prepared to adapt, evolve, and iterate. Keep trying and adapt your idea while getting feedback. - Be prepared for criticism.
Constantly seek critical feedback on your idea. You don’t always have to agree with the feedback you receive but the more feedback you have, the more information and knowledge you will have to make the right decisions for your business. - Perfect your elevator pitch.
You should be able to develop 3 sentences that are clear, compelling, and concise to convey what you are trying to accomplish. This will come in handy when pitching and networking. - Never stop networking.
Develop a wide network of connections. With every new relationship you create opportunities to be introduced to an investor, an advisor, or a supportive peer. Make sure you’ve perfected your elevator pitch since you would have to convey your message really quickly. - Learn how to attract investors.
Many first-time startup founders find attracting investors really challenging. Click here to learn how to reach out to investors and attract them. - Build an awesome team.
Think of your startup as your baby and every individual you hire as the nanny. You want to find the right, passionate and competent people to work with you. - Learn to work with limited resources.
As a startup you are limited in resources. Sometimes you will find yourself wearing two hats, other times you will find yourself doing mundane tasks, but more importantly, there are times when you have to get really creative on the way you will make things work. - Take a deep breath.
You might find yourself constantly stressed and worried or overwhelmed with the excitement of your own startup business. As exhilarating as this may be, and as rewarding as it may feel, remember to take a step back every once in a while to take a little breather. - Never give up.
Last but not least, never give up. There will be days when you will feel like your idea will never pick up or that it will fail. Every successful entrepreneur has felt that, but they were all determined and refused to give up. Keep pitching your idea to as many people as you can and don’t get discouraged when you get more negative responses than positive ones. Have a thick skin and investigate alternatives and adaptations rather than surrendering.
To gain knowledge on the startup industry, attend BDL Accelerate 2015 in Beirut on December 10 to 11. Gain the chance to listen to 100 global seasoned entrepreneurs and investors and the opportunity to network with them. Several workshops will also be provided during the 2 day conference. Check our website to find out more.
