Things to Consider when You Own a Start Up
Owning a start up is exciting as well as scary. It is similar to the feeling of driving into a heavy fog where you are able to see only a few feet in front of your windshield and don’t know what is ahead. The longer you stay in this field the more you can drive through the fog. The economy of start ups is full of opportunity, potential, and innovation; on the other hand, it is also full of high stakes risks.
Start up pool is rather less intimidating once you assess and understand the risks while it was scary to take the leap of faith earlier.
There are some of the important lessons and things to take into consideration if you are owning a start up:
- Do not hover around Statistics: Statistics always suggests that 95% of business fails. Do not actually listen to that, it is simply an excuse just to make you feel comfortable about giving up on your idea.
- Managing people is a sucking job: Yes, it is actually true that management of people is a tedious task. So, what hire a virtual manager for $4 an hour who can actually give training on managing of people.
- Read a lot of material: Read, read and read. Whatever, books and novels you get be it motivational books, self-learning, fiction, biographies or success books-Simply Read!!
- Do not worry about raising money: If possible try to build a business over that people should actually throw money. Initially, it may be difficult to raise some money but as you gain the confidence of your investors you will not be suffering lack of capital.
- Wake up earlier: Early morning wake up is a great idea. If you build this habit with due course of time things will start turning positive for you slowly and gradually.
- Finish whatever you start: We often like to start things earlier rather than finishing or taking it to the end. Do not stop until your idea dies the last breath or you finish up making money through that you can buy a private island.
- You may not know everything: It is quite true that we may not know everything at once, once we start things we slowly come to know about things and learn things with due course of time in this journey.
- Never partner with someone just because it is convenient: Do not partner with someone just because it is convenient. If the understanding is not there with the partners, hatred will result in losses only.
If above points are kept in mind the most beautiful ideas that are generated from some of the most beautiful minds of entrepreneurs will drive growth and economy one day!! So, just keep on moving and don’t stop!!