Startups happen to be the rage now with so many individuasl aspiring to be an entrepreneurs in their own right. Thus, it is the advent of a startup! However, the going is definitely not easy, nor is the path totally smooth. On the contrary, it could resemble a rollercoaster ride, after all the things worth doing are often quite challenging. Designing and developing the product happens to be the first hurdle that must cross successfully. Therein begins your precarious journey towards becoming a successful business owner. While the going may be tough, there is nothing to despair. Be driven by your passion but do not give up midway. Be determined enough to hold on to it. Your tenacity is sure to reap dividends.
Here are a few tips to get you started. Check ‘em out and embark on the path to success.
Less is More– You are a first time business person who has no experience to back him up. Do not start having grand ideas and blow up all your savings in the process by taking on too much. Begin with a simple product that could be viable and keep refining and improving its design as you begin to obtain feedback from your customers. It is important to do your own research before you launch it. This will provide you with a concrete idea about its demand in the market.
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Team Work– A Startup Company cannot afford to employ a bunch of people at the onset. However, it might help to form your own team by roping in a few like-minded individuals. All of you should share the same dedication and passion and remain motivated no matter what the outcome is. Hiring the top consumer product design companies is often out of the question right away though. However, you will likely consider it later i.e. after securing a foothold in the market, or at least fundamental product.
Work Culture– Admittedly, there is no boss and no subordinates at your office. You have all pitched in equally and are firm friends. Yet a business place needs to be totally professional without any one person of the team turning dictatorial. The right way to progress would be to create a list of ‘must do’ tasks everyday and stick to the routine. Keep an open culture and provide feedbacks to each other without holding back. However, there should be no backbiting or rudeness but proactive criticism. Do make sure to learn as you go ahead. This will hel place you firmly on the successful track.
Delegate– Well, it is your startup so it should be your baby. Unfortunately, you do not have ten hands, nor can you be at different places at the same time. Sure, you feel that the success of the team should be your responsibility but do take a break every now and then. It will help you to think clearly. Feel free to delegate the tasks amongst the other partners or the new hires (if you have managed to afford a couple).
Remain Relevant– Life moves fast but so does technology. You will find it advance at lightening speed. Remember to remain abreast of the latest techniques and tool vis-à-vis your work. You also have to learn and grow with your job, be innovative and handle all sorts of things without complaint. In short, you cannot afford to lag behind in today’s scenario. So remain relevant and vigilant!
Funds– You cannot simply expect the money to come pouring in even after you begin selling your product. Fundraising is a tough job and requires a lot of patience. You will find success with time. So be patient and take it in your stride.
Compromise – Success does not come easily. It entails years and years of hard work. So, forget the carefree days of your youth and throw yourself heart and soul into the work. The good things in life can come later. You will have to make compromises but it would be totally worthwhile.
Mistakes – You are not perfect! Therefore you are bound to make errors while trying to set up your own business. Do bounce back however and try to take lessons from it. You are likely to overcome your shortcoming this way.
Appreciate – Do not be too hard on yourself though. Look back and think of your first day at work. You are likely to feel proud of your accomplishments and justifiably so. Appreciate yourself and take a step further.
Enjoy– You have been burning the midnight oil, trying to forgo hiring a company for product design services. Sure, it is a lot of hard work but you should not forget to enjoy yourself in the process. The joy and enthusiasm will urge you to go forward.