How to build a successful startup

“A startup is a company that is confused about-

1. What its product is?

2. Who its customers are?

3. How to make money?”.

Starting your own business is always a difficult prosper. You want to make it the best place to work in the world but that’s easier said than done. You have to build an online reputation and protect yourself from defamation. On top of that, you have to constantly increase the value of your sales to ensure that you can find expansions and take your company to next level. Whether your starting your business because you want to make a living out of your area of expertise, or because you want to be your own boss, it is important to have a business plan and to follow it. That is what separates successful business to those that end up being futile attempts at entrepreneurship.

For one thing, you must have a working process in place, and this includes delegating and automating tasks. This process would serve as the main guideline that you would follow, just like how the military employees as a strategy before going to war. You cannot dive right in without the means of getting there in the first place.

“Entrepreneurs can’t use the excuse that I don’t have time,

I’m running a business.

This is your business”.

Another way to be successful in business is to separate your own needs from the company’s. As an adage goes, never count your chickens before they hatch. The same way with business, it would be a bad idea to spend on personal wants or needs, just because you have begun to make money off your business already. Remember that your end goal is for your company to flourish. You must also be realistic about your expectations, especially in terms of your finances. Specifically, have a good enough understanding of your company’s cash flow and where the money is going.

Startup failure is extremely common, with 90% of startups failing within 5 years, but by adopting these strategies, you can increase your chances of success.

“If you are not embarrassed by the first version of your product,

you’ve launched too late”.

M.Nasreen