Startup Success Quotes Series- WHY?
Life of a startup is hard.
Get inspired by these quotes to make you successful
It is the CEO/Founder who should head the customer experience department within a startup. With the head of the company constantly thinking about customer experience, everything that the startup does will have the customer at heart. Here are a few reasons why startups should focus on customer experience from the start:
Source-Vivek Jaiswal- customerthink.com
Let's get our ideas and thinking out for the world to read.
We need to remember to capture and keep our audience’s attention.
Don’t lose confidence
Failure can be an extremely humbling experience.
But you need to be able to find the balance between being humble and remaining confident.
Entrepreneurs typically have that “eye of the tiger” character trait that gives them an edge in life. Don’t lose that feeling and mentality just because of a mishap.
Sure, you may not approach your next venture with that feeling of invincibility you had when you started your last one, but you should always remain confident in yourself.
Your failed startup is just one minor event on the long timeline of your life. Don’t let it define you.
Instead, use it as motivation to bounce back and be better than ever.
"We were wasting food at every link in the entire chain," Stuart says in a video detailing his philosophy behind Feedback, the company he started in 2009 to address the problem of food waste. Feedback organizes action and awareness campaigns (as well as events) that target food waste from — literally — the ground up. From working with governments and international institutions to educating businesses and rallying grassroots organizations and the public, the group aims to be a catalyst for changing global attitudes about food waste.
Each business needs procedures for every different situation that may occur. A beauty salon is no exception. First, you need to understand the current procedures if any are in place. Next, you need to improve those procedures and make sure they are implemented.
In case you find yourself managing a salon that doesn’t have any procedures in place, you must create procedures that will address the most pressing issues. Don’t expect to create procedures for every situation overnight! It does take time to establish and refine the right procedures
A concept known as the ‘Founder’s Dilemma’ reveals the importance of making some hard choices before even approaching VCs for investment.
As startups grow, entrepreneurs face a dilemma. On the one hand, they must raise resources to grow their business. If they choose the right investors, they can outperform.
In fact, HBS research suggests a founder who gives up more equity to attract good people and investors, build a more valuable company than one who parts with less equity, and the founder ends up with a more valuable slice, too.
On the other hand, in order to attract investors and executives, founders must give up a degree of control over decision making as a quid pro quo.
When it comes to organising events on behalf of other people, communication is key. As all successful event planners know, assumption is the mother of all screw-ups, so it’s vital to understand exactly what your clients want and expect, and keep them fully informed of progress.
If, on the other hand, you’re organising your own events, then your clients are your attendees – the ones buying the tickets. Be sure to communicate with them just as regularly – via your blog, newsletters and social media.
Startup Success ✌✨Quotes Series # 046
Franchising a less risky option for a startup
You have a tried-and-true business model-Dustin Thompson
When buying into a franchise, you are far less likely to fail due to discrepancies with your business model.
A company isn’t generally ready to franchise until they have perfected a business plan that can be easily replicated by business people around the world.
This means less planning and more doing with little risk.
Be Where Your Customers Are
Finding your niche market is key in getting your products in front of the right audience.
“We were laser focused on infiltrating the New York City startup founder community. We went to targeted meet-ups and events daily, asked to be included in local newsletters that we knew founders subscribed to, cold emailed founders and added them on LinkedIn”
Startups are literally a journey into the unknown and entrepreneurs need to be comfortable with taking on ambiguity, uncertainty and multiple challenges.
Networking is another reason for startup success. A founding team that knows powerful and influential people in the business is completely priceless and can open the doors to partnerships
It is important for you to be clear and concise about what your startup is and why investors should support you.
Be prepared to provide compelling answers for two basic questions—who are you and what you are doing?
They would also want to find out who your startup team is, your product, your customers, and your story.
When proposing to potential investors, be convincing enough. Master your plan by heart; going the extra mile won’t hurt.
To be successful, you’ll invest a lot of time and money—so make sure that starting a restaurant is your passion, not just a business venture you hope will make money. “It’s harder than you can imagine,”
“but people do it all the time. It’s not at all dreamy.”
Everyone would love to have a large and growing market, perfected technology, and infinite capital. Under those conditions, anyone can be an entrepreneur. The question is what you are willing to do and can you do when the conditions are far from perfect.
Fast Food Fast
“Speed of service is in direct correlation to your overall retail sales,” says John Scardapane, founder and CEO of Philadelphia-based Saladworks.
Scardapane says cutting down on service staff is a traditional method for quick serves looking to streamline business, but it can be the kiss of death for a quick serve because it slows service.
“You can cut down and streamline your kitchen and hourly staff in the back of the house, but you can never cut down your sales force or the amount of staff you have in the front of the house to affect the speed of service,” he says. “One customer that’s unhappy and doesn’t come back costs you a lot more than the hourly rates you’re trying to save by cutting back one employee.”
Source: QSR Magazine
Startup Success ✌✨Quotes Series # 039- How to successfully Bootstrap your Startup-George Bradt
Bootstrappers have to embrace simplicity. Deliver a real benefit. Communicate it relentlessly. Manage your cash. These are the three keys to successfully bootstrapping a start up – and running most businesses.
Hands up who wants to spend weeks of their life creating an online course, for absolutely nobody to buy it? Nope. Didn’t think so.
Once you have picked your online course topic, the next step is to conduct a number of market research tests to see if it has a market demand or not. Many course creators make the mistake of thinking that if there is a lot of competition in their topic area, then their course idea won’t fly. But actually, this shows that there is a high chance of there being a strong market demand for that course idea and is therefore well worth investigating further.
One of the fastest and most impactful ways to get your knowledge out to a global marketplace, making a bigger impact and making more money, is to download that knowledge lying dormant in your brain and turn it into a lead-generating, money-making, impact-creating online course.
“When running more than one business, it’s important to try to simplify the day-to-day administrative tasks of running multiple businesses. By creating systems and processes, as well as outsourcing as many tasks as possible, it will allow a business owner to focus more time on creating new products, services, customers, and revenue for each business.”
Pricing research is focused on understanding the one thing customers are less willing to part with—money.
When startups start to dive into pricing questions, new insights on product-market-fit are generated that would otherwise be difficult to determine.
“Partner with your family. Too often we think of career and family life as two entirely different spheres.
I’ve found it key to my own work to bring my husband and children into the process, rather than seeing my work as an obstacle to my family life or vice versa.”
“Failure defeats losers, failure inspire winners”
Tip: Don’t let failure discourage you; failure today should inspire you for success tomorrow. In fact, if you will have to move forward as a blogger, you need to pray for failure to come your way.
Enter the market when it’s ready to receive your offer.
There are two main reasons why coming up with a great idea is less vital to entrepreneurial success than most people think. The first is that an idea itself doesn’t tell you anything about how a company will be managed. The second is that ideas and timing can never be divorced from one another when it comes to entrepreneurship.
Carol Nichols @carol10cents
Startup Success Quotes Series # 032: Invaluable Mentoring support
TEAM YS in Your Story
“Mentoring is a two-way street. You get out what you put in” – Steve Washington
While everyone accepts the needs for money, the value of mentoring, and hence the need, is not recognised or felt universally.
True mentors get involved closely with both; the entrepreneurial team and the enterprise to provide critical nudging at the right times. Technical or professional inputs (e.g. when to file what type of patent) are perhaps more obvious compared with critical inputs at all crossroads of the entrepreneurial journey, where the mentor serves more as a life coach. Also, it is important to consider critical inputs while weighing and deciding as opposed to consider them as deciding for you. Further, mentors who can guide, cajole, and yet accept an “entrepreneur’s right to choose” without allowing their decisions to affect a team’s enthusiasm or interest in the venture are rare.
In startups, nothing happens automatically. Unless you make it happen.
Ask about pains. Listen.
Validate your idea.
Don’t go all-in on selling right away.
You’re still a startup and customer feedback is your magic potion to becoming the best you can be.
Don’t make the mistake of not drinking it.
In early customer development you’re not selling, you’re learning.
The people behind the company should be competent and have the right background.
For me, education is not the factor but the experience they have in the space matters.
Execution is key as excels and boardroom talks are great but if the team is not able to get it to live there is no use.
EXPERT SPEAKS:Mr Chaitanya V Cotha, Director of CKC Group
Even on vacation, the ideas keep coming. You’ll find the venture hanging out in your thoughts.
Todd Belveal-Founder and CEO at Washlava
But these vacations go away when the startup path begins.
Entrepreneurs can (and should) take time off. Manage the calendar very carefully to make sure that happens.
The “always clocked-in 24/7” founder is the oldest stereotype there is, and the best entrepreneurs insist on balance.
But it’s hard to check out for that long when you’re running a company.
It’s not so much that things aren’t getting done, or that you can’t trust others to move things forward. You just miss it.
When it comes to marketing, the more eyeballs a blog gets, the more opportunities a company has to sell and make money. Especially if the site’s main focus lines up well with your marketing initiatives and target audience.
A successful blog is one that completely locks into their target audience and highlights niche topics that align with the blog’s core focus.
“The hardest part about being an entrepreneur is that you’ll fail ten times for every success.”
“People tend to think that in order to start a new business they have to come up with something new and dazzling, but that’s a myth – and it’s often propagated by venture capitalists.”
“If you’ve got an idea, start today. There’s no better time than now to get going. That doesn’t mean quit your job and jump into your idea 100% from day one, but there’s always small progress that can be made to start the movement.”
There’s no shame in loving your business as much as you love being a mom.
Somedays, it’s actually easier to be a business owner than it is to be a mom/wife/housecleaner/foodmaker/spit-up-cleaner-upper.
What I learned is that it is a blessing to know moms who also do parenting and business alongside you.
Connect with them, don’t be afraid to find the people who get your passion for your business.
When we’re more fulfilled as human beings, we can be better moms.
After you've outlined whom your best customers will be, recognize that you may have more than one profile.
For instance, the catering business may find lucrative market segments in cooking and presenting elaborate holiday meals for affluent families, as well as providing simple, daily heat-and-serve meals for busy working parents.
Lisa Fortini-Campbell, adjunct professor of management at Northwestern University's Kellogg School of Management
“Entrepreneurs don't have weekends or birthdays or holidays. Every day is my weekend, my birthday, my holiday. OR, every day is my work day. Mostly it's a choice.”
― Richie Norton
David Packard, Co-Founder of Hewlett-Packard Company
“Marketing is too important to be left to the marketing department.”
Marketing brings customers and customers are the core of the operation of any company.
Marketing is a vital function of the business and its main aim is to produce an effective marketing strategy for a business in order to maximize conversions (or sales).
But here is one tip: entrepreneurs have to connect the business and the marketing strategies together.
“You need three things to create a successful startup: to start with good people, to make something customers actually want, and to spend as little money as possible.”
― Paul Graham
If your startup can grow fast, you can effectively bypass some of the biggest startup killers — losing to the competition, losing customers, losing personnel, and losing passion..
Neil Patel in Forbes
“BHAGs are a company’s wildest dreams. Catalytic mechanisms are their foundations. Build them both.”
A big hairy audacious goal (BHAG) is a company’s wildest dream, and a catalytic mechanism helps a business get there. As Collins says, if big hairy audacious goals are castles in the sky, catalytic mechanisms are the foundations they’re built on.
The catalytic mechanism is the driver that keeps the team motivated and accountable, to reach the BHAG.
It connects goals with performance, giving tangible purpose to actions and motivating employees to put in their best work."
Collins :Great by Choice
“If entrepreneurs are able to be disciplined, productive and focused every day, they will win at an even higher level.” – John Lee Dumas, Founder, EOFire
"My biggest barrier was my self-imposed limits. For example, I thought I could never write 10,000 words in one day. I found it far too difficult to even write 2,000! But I challenged that belief about myself – that I couldn’t do it and that writing is hard for me – and broke through it.
Another limit that I set for myself was about learning curves. I thought I could never learn how to do certain things that it turns out I absolutely can and have learned, just because I removed that self-imposed limit "
Sarah Peterson is the
founder of Unsettle
Nothing comes from highly planned and organized efforts but start-up energy and passion and newness cause chaos, confusion and ambiguity and that results into great product, platform, innovation and even social revolution.
"The most important thing a small-business owner can do is figure out what kind of customers will help them get to the goal. Who are the most strategically valuable people to them?" says Fortini-Campbell. "Do you need a lot of people who buy a lot, or people who buy across an entire service line?" Is your ideal customer a business or an individual? Affluent or middle-income? Is he or she local, or does geography not matter? Identify as many traits as possible so you can organize your business to keep those customers coming back.
A great way to make more money more easily online is to replace one-time sales with automatically renewing subscriptions.
With a stable base of subscribers, this can mean a continuing revenue stream from newsletters, support, or advice on demand.
“CRM is rather boring in itself.
It's the fortune you can make using CRM that makes it so interesting.” -― Michael McCafferty
If you are an entrepreneur and your first venture wasn’t a success, welcome to the club!” – Richard Branson
“Remember to dream big, think long-term, achieve on a daily basis, and take baby steps. That is the key to long-term success.”— Robert Kiyosaki
“Do it. You’ll learn more in a year as a founder than you will in a lifetime of working for a big corporation. Joining a young startup is similar, but not quite as wild a ride as being a founder. In either case you’re at the leading edge of the company defining what it will become. You have your fingers in a hundred different pies and get to work on the most interesting thing of all: something you’ve created.”
Innovation is the foundation of a startup and the key value an entrepreneur brings.
To drive innovation, a deep understanding of the customer and their pain points is critical.
You will never discover those pain points in a conference room -- you must have a wealth of real-life experiences to pull from to relate to customer needs.
Do you want to target only a few rich tourists and people of the area?
Or, do you want to target the middle-class consumers?
Know your target consumers to decide before launching your restaurant project
Understanding your market is a key to success.
If you do not know particular features of the business sphere you have chosen, your efforts will be in vain.
Stay within the area you know.
Don’t start anything you are not familiar with.
Remember about consumers and feel like they do, figure out their needs.
How to Build a Successful Startup (Rather Than a Miracle Startup)
Be hands on
Set realistic goals for growth and Development
Take your startup journey one step at a time
YOUNG ENTREPRENEUR COUNCIL
“The way to get started is to quit talking and start doing.” –Walt Disney, Co-Founder, Disney
“We must learn what customers really want, not what they say they want or what we think they should want.”
–Eric Ries, author of The Lean Startup
“Be undeniably good. No marketing effort or social media buzzword can be a substitute for that.”
–Anthony Volodkin, founder, Hype Maching
“Even if you don’t have the perfect idea to begin with, you can likely adapt.”
Victoria Ransom– co-founder of Wildfire Interactive- entrepreneur.com
“Micromanage the process, not the people.”-Joe Apfeibaum- co-founder of Ajax Union