Every big company like Google, Microsoft was at one point were mere startups started by some young Entrepreneurs namely Larry Page and Bill Gates respectively, who in today’s time have become an ideal inspiration for many. What was so different that it became a successful startup? What special things did they do in order to create a perfect recipe which has an addicting smell of success? Was it their technical knowledge or was it their attitude or was it their vision? Well, some say they were born leaders but the truth is they were desirous enough to become the leaders that they are today. They are what we call a Successful Entrepreneur. Now, how can one reach the same height as they are standing on today? The essentials to make a successful startup is discussed in this article.
1. Take Risks
When you decide to plunge into a startup it’s the first and foremost rule that you accept each and everything that comes with it. Setting up a startup is not at all easy and is a job full of risks. You need to understand that your startup may stand a chance at being successful but it can also fail. Risks are a part of life, you won’t succeed until you take some risks. So, it’s better that you prepare yourself beforehand. This will only make you strong.
2. Be Realistic
When you have an idea, doesn’t matter how creative it is, it must be practical. Something original as well as realistic. Because fiction will always be fiction, it cannot be real. In order to make your idea real and not an element of imagination, make sure it’s innovative, creative, new and most importantly practical.
3. Planning and financing the right way
Finance matters a lot when you want to set up your own startup, it’s very important that you plan and keep your finances in check before you proceed. A good business, as well as a budget plan, should be your priority. Giving a structure, a backbone to your idea is very important.
4. Practice what you preach
You may believe in some particular religion, so what will you do? you will try and preach that religion, wouldn’t you? Similarly, when you set up a business you need to preach it, practice it, worship it. Love it or leave it because until and unless you start enjoying your job, you will never be able to succeed.
5. Purpose and Product
You need to have a clear vision. A purpose, a strong one at that behind your startup. Set up objectives and complete them using your startup and your product, make sure they are good enough to satisfy whatever your company’s goals are. It will take hard work to become successful startup but if you don’t have a good product it will take hard work as well as luck to become successful, which is unlikely.
You need to have the passion, the power of persuasion and the ability to persuade. It’s very essential that you have a target crowd and you know how to attract them. Customers are undoubtedly your first priority. Your success directly, indirectly depends on them.
Make your product strong but your people stronger. Organize your teams in such a way that they can work under any condition and handle anything independently. Be a leader, but one who listens to everyone and dominates but only when required.
7. Be Legal
If you want to taste the sweet taste of success you need to go the right way, you can’t expect success if you take a short cut. Follow the legal procedures including company registration, tax filings like income tax return filing and certain another kind of mandatory legal filings. We, at LegalRaasta, can help you to establish a successful startup in a legal way.
8. Be manipulative
You need to know how to make people follow you and how to make others speak your words. Be manipulative but in a good way. Use people for your company’s benefit and not for personal agendas. Be manipulative but only according to the requirement. Something like a pinch of salt in a dish, according to taste.
Now you can’t have successful startup all you have to do is mix the essentials perfectly and make sure they are blended in just the right way and you have the best startup ready in front of you.