First Startup – How to overcome the chances of failure?
I have started to think seriously about start up. Yes! A good start up with some decent plans and highly passionate mind. I have many ideas to work on my first startup, but I am little afraid about the failure. Its big problem for me when I saw others startups which successfully running and most of them are similar to my ideas, I become worried how my startup will work if same idea is already running with success. Also I fade up when I saw successful startups having big investors and I have nothing at all to take start. To fix my these problems, I am reading startup related books, articles to make myself inspired and learning new things in this phase. I have leant the key things before start the startup. So I will explain them in another article. Here I would like to share some important tips from my research. These are tips about of first startups failures.
Nowadays every geek is thinking about startups that are really good for them. But I will say if they have failure from start, they should not hurt them self as failure is part of their success. Many startups have won their first attempt without any failure. But I think without getting failure your success is worthless, you will never learn about failure and this phase how you will learn as its really make you strong to fight in the hard days.
Facebook owner Mark, he never saw the failure in his first startup. What you should do to avoid the failure. Strong strategies and best ideas are everyone has. But what are important steps you should follow to decrease the chances of failure in your first startup attempt.
I have read another great article for startups, How to start your startup in 4 steps. It’s written by Joel Gascoigne, the founder of Buffer App.
The good part of reading Joel’s blog, he reply your each comment and explain you well, also he try to help you regarding your startup problems . You share ideas with him to get more wide experienced advice.
To overcome the chances of Failure in your startup business, following are some tips I have figure out.
Success doesn’t happen by magic. You must have a step-by-step plan to achieve it. Your start up needs a plan before to move forward. Planning with strong strategy makes you to go next step forward.
Before starting your business, as being typical entrepreneur, you must have knowledge about your idea. If you started your business because you had a better idea, a better product, a better process, then you do not take start immediately, Because you have to look around , may be your competitors are already running this kind of startup with absolute success.
So simply I will say, before going to the next step, look around and make sure you are coming with unique ideas and more valued range of services.
This is a fact, investors already knows many entrepreneur who have great ideas. But they invest few of them, because only idea is not main factor in your startup. Investors looking for winners as they expecting best potential return on investment from winning startups..
- How much will you invest in your success?
- To succeed as a Startup you need:
- Nice office location
- A nice plan.
- A business infrastructure.
- A network of business mentors and professionals.
- A management team.
And make sure you can ultimately achieve all this on your own.
Finally I will say, there is many successful companies in the world, and you may can get your space between them, it’s not difficult to achieve and success is not so far, be passionate If you need capital for startup, then make financial sacrifices and cut back on your spending. Simply I will say, tighten your belts and go ahead for new startup.