Launching a startup is never easy. The going may get tough and the tough will get going, unless you do something about it. Very few startups in the world have had a dream run in its nascent days. There are challenges and there is self-doubt, there are risks and there are rewards. The success or failure of a startup shall depend on various factors and most of them will be specific to the industry and the nature of the business. However, what doesn’t vary is the mindset of the entrepreneur. Most successful entrepreneurs or those who have helmed successful startups share many attributes in common. Taking a cue from their lives, philosophies they believe in and how they steered their startups, here are some tips that could be of immense help for any aspiring entrepreneur.
1) Does it Plague Your Mind?
An idea is only worthy of pursuit when you cannot stop thinking about it. Cofounder of Omniture, Josh James believes that startups should not stem from any random idea but an idea that keeps developing and what one cannot get rid of.
2) Ideas Are Never Perfect.
They have to be perfected. Many aspiring entrepreneurs undergo periods of procrastination which is primarily fueled by self-doubt. It is similar to how writers question their creation unless they receive some due recognition or positive feedback. Cofounder of Wildfire Interactive, Victoria Ransom believes that one can always adapt and transform an idea to weed out the imperfections or shortcomings.
3) Work on Solving a Problem.
Mint founder Aaron Patzer has a simple belief about any idea. It has to solve a problem. This principle or belief is shared by all successful entrepreneurs. If an idea or a startup is not solving a problem that exists and concerns others, then the idea is not worth pursuing. Many entrepreneurs jump onto new ideas when they see some economic sense or some kind of rewards in the end. That is not the best way to think about a startup. The ability to solve one or many problems is what will distinguish a successful startup from apparent failures.
4) Live By What You Say.
Founder of Dell, Michael Dell has a piece of advice that any aspiring entrepreneur should not only endorse but live by. Ideas are a commodity, execution of them is not. No matter which industry we talk about or what kind of startup it is, the idea is only going to be as good as the execution. Having a lot to offer but not offering is a sad consequence.