What Makes A Successful Startup
People often have aspirations of starting their own company. They have a dream and the passion to bring it to life. That sense of drive is a great tool and it’s more than I can say for most. But now what? How do you turn that dream into something tangible? How do you make your hopes become your reality?
1. Find a niche.
Successful companies today have identified their niche. They find something lacking in the current market and provide a valuable solution to their consumers. Whether it be opening a drone repair shop or launching your own selfie booths throughout the city, you have to know that there is a market demand, and, even more importantly, a demand to buy.
2. Have a vision.
So let’s say you’ve started. You’ve actually taken the steps to go and out and turn your passion into something great. Next comes vision. Vision to see not only how things are, but how they will be. Great entrepreneurial minds all agree that the gift of foresight is priceless. You have to recognize market patterns and correctly position yourself to ultimately profit.
Pair this with having a vision. Once you have gained a good understanding of the market trends and overall direction, it’s your job to bring a new way of thinking to the table. Be a trailblazer. Difference is good. Present a situation that leaves your audience thinking, “Wow, I gotta have that.” They may have been completely unaware that it even existed a week prior. If you’ve achieved this, you’re successful.
Evolve or die. This should be posted throughout your office. It should be law. Being comfortable leads to being stagnant. Successful companies such as Apple, Google, and Tesla have learned how to embrace cultural change. They are not cookie-cutter companies and neither should you be if you want to survive.
This is arguably the most important asset to a successful startup. Don’t give up! When growing a company, new and challenging situations will present themselves every day. It’s your job to keep your head down and power through to your goal. Good things happen to those who wait. Great things happen to those who DO.