Some people are quick to associate startups with failure. Which is not surprising considering 90% of startups fail, but what about the other 10%? If you have a dream to open your own business, you may feel shut down by this statistic. Rather than fearing failure, face it with a smile and go chase down your dreams.
Here are five keys to a successful startup:
1. Get started.
What sets people back from starting their own business is simply doing it. There are a lot of ways to go about getting started, but it comes down to following through with your goals. Don’t keep waiting, because the conditions to start will never be "perfect" and the timing will never be “just right." Take the first step and get started.
2. Set attainable goals.
An important part of setting goals for your new business is making sure you can reach them. It’s awesome if you want to make a million dollars, because who doesn’t? But a better goal might be to work from your basement for your first year to save $50,000. Short or long-term, attainable goals will keep your dreams in check and help you progress rather than falling short by pursuing an unrealistic milestone.
3. Be resilient.
Starting something of value, like your own business, isn’t easy. The doubts will always be there and at some point, you will make a mistake. Don't allow failures to scare you from taking risks, let it motivate your growth through experiences. Carry on with the confidence that you won't make that mistake again. Tackle challenging situations with an open mind and sense of resilience.
4. Find the solution.
If you only focus on what’s wrong, it’s easy to find problems and let negativity consume you. Instead of panicking when a problem arises, take a step back. Use resources and past experiences to examine the problem and solve it more efficiently. Just like making a mistake, you will learn more by problem-solving.
5. Love what you do.
Whether it’s a marketing agency or a clothing store, make your startup something you love. That 10% of successful startups are full of people who are passionate about what they do. Be passionate and devoted to what you do, the rest will follow.
Need advice on how to pursue your dream? Reach out. We are here to help!