Startup Pearls of Wisdom

Startup Pearls of Wisdom is a must read for any one planning a startup. The journey is full of unexpected events and a study of factors leading to success can help when once faces many dilemmas. However success lies in execution and the perals of wisdom  can have positive impact on planning and achieving the dream

Startup Pearls of Wisdom- Entrepreneurial Competencies for Startup Success

  • THE TEAM DOESN’T HAVE WHAT IT TAKES TO SUCCEED

A startup’s biggest challenge is getting the team right, according to 37% of the founders surveyed.

Having enough diversity for a variety of skills that are needed to succeed from day one is essential.

Not less important is trusting your team and giving them control over their responsibility areas.

fastcompany.com

  • Customer service and Support

Another often overlooked area of process that kills many startups, both in cost and time. Don’t assume that you can fix every problem yourself, or that there won’t be any problems to fix. Even if your business is online, people want a contact, real expertise, and quick response.

Caycon.com

“You can read all the books you want on how to build a booming business, but when you get right down to it there’s still no substitute for having a chance to hear firsthand from people who have actually done it.

The best way to learn how to become an entrepreneur is to actually learn from an entrepreneur.”- Alexandre Dulaunoy

This step may help in building relationship and also they can mentor startup entrepreneurs.

Learn from Successful Entrepreneurs

Startup Pearls of Wisdom is a must read for aspiring entrepreneurs before you get in to the challenging, dynamic and ever changing world of excitement called - Startup  Business

There is no end in facing uncertainties, turbulence and sometimes the urge to hangup. Before venturing a study of success/ failure factors helps when one faces decision making dilemma.

Startup Pearls of Wisdom- Useful Weblink

Words of Wisdom For Start-ups From A Serial Entrepreneur-Geri Stengel ,

https://www.forbes.com/forbes/welcome/?toURL=https://www.forbes.com/sites/geristengel/2014/07/02/words-of-wisdom-for-start-ups-from-a-serial-entrepreneur/&refURL=https://www.google.co.in/&referrer=https://www.google.co.in/


Do your homework

Learn everything you can about the industry. What are the marketplace trends? How big is the market? Is it growing or shrinking? How will technology impact the industry?  What is the persona of the target market? Who are your competitors? How is your product/service different and better?

Startup Pearls of Wisdom- Focus, Focus , Focus.

 Do not take your eyes off the wheel you are driving.Lack of focus by the startup team can cause huge disruption.

 “Though the immediate cause of death in a startup tends to be running out of money, the underlying cause is usually lack of focus.”- Paul Graham- Y Combinator

  • Get Comfortable With the Unknown

You will never know enough. You will always be forced to make a decision without fully understanding what is coming. As a founder, that is just something you have to get comfortable with.

Aaron O’Hearn, Co-founder and CEO of Startup Institute 

  • Don’t Seek Risk

The best entrepreneurs don’t seek risk. They seek to mitigate risk.

—Rick Desai, Co-founder of  Dashfire

forbes.com

Why Master Networking Skills?

Business networking is an art form. As an entrepreneur, you'd do well to master that art.”-Nidhi Ann Raj- Gaebler Ventures

Startup Pearls of Wisdom-Conclusion

On average, entrepreneurs work harder and put in longer hours than their employees, while taking on much more risk.

The failure rate of new businesses is estimated to be between 30 percent and 70 percent within the first two years.

Despite the odds, thousands of people launch new businesses every year. Some will be wildly successful, some will muddle along to sustainability and others will fail. While luck cannot be overlooked, success for a new business is mostly the result of the vision, effort and ability of the founding entrepreneur.

startupnation.com-Anne Macray

dream- Dream Big You may hit the jackpot!!!!