Launching a startup isn’t easy. In fact, it can be downright challenging.
Rather than throwing in the towel as soon as the going gets rough (and believe me, it will), give yourself some credit. After all, you took the first step and thought “I can turn my idea into reality.”
Here is a ‘how-to-guide’ to building your startup.
Entrepreneurs are often described as having unwavering grit. In order to take your idea and turn it into a profitable business, you need to be committed and determined to succeed. Set tangible goals that you can work towards daily. Grit alone won’t build your startup, but it will instill confidence and keep you focused on your end-game.
If you are risk-adverse, you may want to rethink whether building a startup is right for you. Every successful entrepreneur takes risks—even at the expense of potentially failing. Well-seasoned entrepreneurs know when they should play it safe and when taking calculated risks is the way to go. As you build your startup, you’ll learn how to tell the difference, and when given the chance, more often than not, you should take the risk.
Finances are almost always tight when launching a startup, which means you’re doing most of the work on your own. Don’t burnout right out of the gate. Be sure to look into resources that may be available to you like grants, assistance programs, or fundraising sources. Likewise, seek out mentors who can guide you in the right direction and provide invaluable guidance.
Lean into Support
It takes a village to run a successful business. When building your startup, be sure to surround yourself with a strong support system. They should have your back and stick with you through all the ups and downs. Don’t try and do it alone. Lean into those around you and accept their support.
Building a startup won’t be a walk in the park, but it also doesn’t need to be brutal. Get gritty, take risks, be resourceful, and lean into your support system.
Derek Rundell, is a successful business leader, operator, and serial entrepreneur. Derek has founded, managed and sold businesses in the technology, media and finance industries. He sits on several boards and serves as an advisor/investor to numerous established businesses and startups. Startups are Derek’s real passion, and in addition to building his own portfolio of technology, media and financial ventures, he invests in and mentors startups and entrepreneurs. He is passionate about sharing his knowledge and helping other businesses succeed.