Advertising

How Short-Term Suffering in Startups Leads To Their Long-Term Success

Advertising
How Short-Term Suffering in Startups Leads To Their Long-Term Success

It would appear that anyone with a laptop and an Internet connection is launching a startup. I am not going to lie to you there is a romance behind building a successful company. Unfortunately, there is a great deal of work that must be done in private before you can celebrate your wins in public.

Not only is the journey ahead of you epic but 90% of startups fail, according to Neil Patel, co-founder of Crazy Egg. Why? Because… you waited too long to launch, you hired poorly, or you simply lost focus.

Until recently, I have been a serial failure as an entrepreneur. I lacked the understanding of how the short-term pain bleeds into long-term success. I have discussed these issues with a few entrepreneurs, and I have listed some of the mile markers they encountered on their journey to building a successful company:

1. The product is important to the business, but the company culture is more important.

Mike McDerment, CEO of FreshBooks, explains the company invests a great deal of energy into creating a company culture that is supportive and collaborative.

Advertising

It’s in the DNA of FreshBookers to go to great lengths to execute extraordinary experiences every day for our customers and for each other. – Mike McDerment, CEO of FreshBooks,

The single most important commodity for a company is to hire for cultural fit; hiring people who share the company’s core values.

2. You are working hard to succeed, but first you have to fail before you can triumph.

Failure is a valuable tool for the entrepreneur. And without forensic analysis failure is nothing more than… defeat! So you must schedule the time to give serious thought to the question “Why didn’t it work out?” Once you start fleshing out this question higher-order learning and growth begin.

At the end of your analysis you must have clear ideas about why it failed, and what you will do differently next time.

Advertising

3. You are solving problems, but you must create better strategies to solve the more difficult issues.

Todd Barrish, President of Indicate Media, practices four problem-solving strategies:

  • Step 1: Thoroughly identify the problem and the cause of the problem.
  • Step 2: Discuss solutions. This includes potentially reframing the conversation.
  • Step 3: Assign responsibility of the solution. Who is going to manage moving things forward?
  • Step 4: Set a measurement of the solution, so you know when and whether the problem was solved.

4. You are taking risks but the risks must be intelligent so that they can feed the innovation.

Todd Barrish, President of Indicate Media explains that innovation is the backbone of any successful startup.

Barrish sites the launch of his company as a prime example of how innovation has allowed Indicate Media to thrive. Todd continues to explain that the secret sauce to building brand credibility and securing new business is centered on his ability to take intelligent risks against established norms.

5. You are focused on your vision, but you are failing to recognize when to adapt to the market.

No marketplace is immune from change, and if your startup is to succeed, then you must change with the market. But it’s not enough to match course with the market – to experience gain you have to stay ahead of the change. This is why it becomes important to understand the difference between what Andy Grove, author of Only The Paranoid Survive, refers to as recognizing the difference between signal and noise.

Advertising

6. You are creating products better than your competitor, but you must make the product better for your customer.

You must constantly be engaged in conversations around making better products. And I am not just saying to make the product better than your competitors but it must be better than what you have done before. Sometimes it might be a minor change that could be implemented in a few hours, other times the implementation could take months, even years to fully realize.

7. You are settings goals for your company, but they must be D.U.M.B. goals.

  • Dream-driven: Let’s start with building a big dream, stay away from the safe dream.
  • Uplifting: Your goals should have a prerequisite of being positive. Your goals should inspire you to accomplish them.
  • Method-friendly: You need to build methods of obtaining your goals. Your focus should be on building habits that move you closer to achieving your goals.
  • Behavior-triggered: When you set a goal, you need to create triggers that remind you to keep chasing them.

8. You’re focusing on the work ahead but to succeed you must build the appropriate skills.

At the beginning of most new projects, you will lack key skills that are critical to the success of the project. Understanding this issue is critical and will condition you to focus on those skills.

Once you have identified the skill to master, you must not only create a set of habits, but you must also have a provocative ”why” is the skill important. This strategy will place you in the proper mindset to keep you growing the new skill.

9. You have mentally prepared yourself to deal with the stress of a startup, but you have not changed your mind.

“There is nothing more powerful than a changed mind,” explains motivational speaker Les Brown.

Advertising

It’s your disempowering story that you are not good enough that keep you from achieving you true potential. By changing your mindset to believe with certainty in your potential, you give yourself permission to take massive action, which gets you those amazing results, you have been dreaming of.

10. There are times when you’re about to give up, but you have to focus on why this thing is important to you.

To be honest, don’t ever think about giving up. If something doesn’t work out, thinking of a new way to make it work and move on. You must be determined to get through the bad times. If need be, get your team together, outlined the situation, until you come up with a plan to fix it.

11. You do a great deal of talking but for you to understand what is needed you need to shut-up and listen.

Great leaders are great listeners. It’s not your job to dominate the room with your rhetoric. Your job is to listen because the most effective strategy to get people’s attention is for you to give them your attention.

12. You are the boss but to be successful you need to be a leader.

Leaders are not the boss. Leaders develop the gift for getting others to operate at their peak performance. And what might those gifts look like:

Advertising

  • Listening to your team and addressing suggestions, concerns, and personal issues.
  • Coaching your team to raise their performance to a higher standard.
  • Allowing every team member the opportunity to voice their ideas.

Take the opportunity to listen and you will create an environment where they can unleash their full potential.

Featured photo credit: Unsplash/Volkan Olmez via unsplash.com

More by this author

3 Things You Can Do To Live A Better Life 10 Inspirational Quotes From Steve Jobs That Will Change Your Thoughts On Your Career How Short-Term Suffering in Startups Leads To Their Long-Term Success 5 Book Recommendations From Bill Gates End Of 2015! 5 Effective Ways To Wrap Up The Year And Set New Goals for 2016

Trending in Entrepreneur

1 How To Boost Employee Motivation During Difficult Times 2 7 Effective Ways To Motivate Employees in 2021 3 How To Stay Motivated As You Build Your Business 4 23 Tips for New Entrepreneurs to Get Your Business Underway 5 20 All-Time Best Entrepreneur Books to Make Your Business Successful

Read Next

Advertising
Advertising

Last Updated on August 25, 2021

Why Personal Branding Is Important to Your Career

Advertising
Why Personal Branding Is Important to Your Career

As a recruiter, I have met and interviewed hundreds of candidates who have no idea who they are.

Without a personal brand, candidates struggle to answer the question: “tell me about yourself—who are you?” They have no idea about who they are, what their strengths are, and how they can add value to the company. They present their CV’s believing that their CV is the key to their career success. In some ways, your CV still has its use. However, in today’s job market, you need more than a CV to stand out in a crowd.

According to Celinne Da Costa:[1]

“Personal brand is essentially your golden ticket to networking with the right people, getting hired for a dream job, or building an influential business.” She believes that “a strong personal brand allows you to stand out in an oversaturated marketplace by exposing desired audiences to your vision, skillset, and personality in a way that is strategically aligned with your career goals.”

A personal brand opens up your world to so many more career opportunities that you would never have been exposed to with just your CV.

What Is Your Personal Brand?

“Personal branding is how you distinctively market your uniqueness.” —Bernard Kelvin Clive

Today, the job market is very competitive and tough. Having a great CV will only let you go so far because everyone has a CV, but no one else has your distinct personal brand! It is your personal brand that differentiates you from everyone else and that is what people buy—you.

Your personal brand is your mark on the world. It is how people you interact with and the world see you. It is your legacy—it is more important than a business brand because your personal brand lasts forever.

Advertising

I have coached people who have very successful careers, and they come to me because they have suddenly found that they are not getting the opportunities or having the conversations that would them to their next role. They are having what I call a “career meltdown,” all because they have no personal brand.

A personal brand helps you become conscious of your differences and your uniqueness. It allows you to position yourself in a way that makes you stand out from the pack, especially among other potential job applicants.

Don’t get me wrong, having a great CV and a great LinkedIn profile is important. However, there are a few steps that you have to take to have a CV and LinkedIn profile that is aligned to who you are, the value you offer to the market, and the personal guarantee that you deliver results.

Building your personal brand is about strategically, creatively, and professionally presenting what makes you, you. Knowing who you are and the value you bring to the table enables you to be more informed, agile, and adaptable to the changing dynamic world of work. This is how you can avoid having a series of career meltdowns.

Your Personal Brand Is Essential for Your Career Success

In her article, Why Personal Branding Is More Important Than Ever, Caroline Castrillon outlines key reasons why a personal brand is essential for career success.

According to Castrillon,[2]

“One reason is that it is more popular for recruiters to use social media during the interview process. According to a 2018 CareerBuilder survey, 70% of employers use social media to screen candidates during the hiring process, and 43% of employers use social media to check on current employees.”

The first thing I do as a recruiter when I want to check out a candidate or coaching client is to look them up on LinkedIn or other social media platforms, such as Facebook, Instagram, and Twitter. Your digital footprint is the window that highlights to the world who you are. When you have no control over how you want to be seen, you are making a big mistake because you are leaving it up to someone else to make a judgment for you as to who you are.

Advertising

As Jeff Bezos, the founder of Amazon, once said, “Your brand is what people say about you when you are not in the room.”

In her book, Becoming, Michelle Obama writes about the importance of having a personal brand and her journey to defining her personal brand. She wrote that:

“if you don’t get out there and define yourself, you’ll be quickly and inaccurately defined by others.”

When you have a personal brand, you are in control. You know exactly what people will say about you when you leave the room.

The magic of a personal brand is that gives you control over how you want to be seen in the world. Your confidence and self-belief enable you to leverage opportunities and make informed decisions about your career and your future. You no longer experience the frustrations of a career meltdown or being at a crossroads not knowing what to do next with your career or your life. With a personal brand, you have focus, clarity, and a strategy to move forward toward future success.

Creating your personal brand does not happen overnight. It takes a lot of work and self-reflection. You will be expected to step outside of your comfort zone not once, but many times.

The good news is that the more time you spend outside of your comfort zone, the more you will like being there. Being outside of your comfort zone is where you can test the viability of and fine-tune your personal brand.

5 Key Steps to Creating Your Personal Brand

These five steps will help you create a personal brand that will deliver you the results you desire with your career and in life.

Advertising

1. Set Your Personal Goals

What is it that you want to do in the next five years? What will your future self be doing in the next five to ten years? What is important to you? If you can answer these questions, then you are on the right path. If not, then you have to start thinking about them.

2. Create Your Unique Value Proposition

Create your unique value proposition by asking yourself these four questions:

  1. What are your personality features? What benefit do you offer people?
  2. Who are you and why do people enjoy working with you?
  3. What do you do and what do people want you to do for them? How do you solve their problems?
  4. What makes you different from others like you?

The answers to these questions will give you the information you need to create your professional story, which is the key step to creating your personal brand.

3. Write Your Professional Story

Knowing who you are, what you want, and the unique value you offer is essential to you creating your professional story. People remember stories. Your personal story incorporates your value proposition and tells people who you are and what makes you unique. This is what people will remember about you.

4. Determine Which Platforms Will Support Your Personal Brand

Decide which social media accounts and online platforms will best represent your brand and allow you to share your voice. In a professional capacity, having a LinkedIn profile and a CV that reflects your brand is key to your positioning in relation to role opportunities. People will be connecting with you because they will like the story you are telling.

5. Become Recognized for Sharing Your Knowledge and Expertise

A great way for you to promote yourself is by sharing knowledge and helping others. This is where you prove you know your stuff and you gain exposure for doing so. You can do this through social media, writing, commenting, video, joining professional groups, networking, etc. Find your own style and uniqueness and use it to attract clients, the opportunities, or the jobs you desire.

The importance of having a personal brand is not going to go away. In fact, it is the only way where you can stand out and be unique in a complex changing world of work. If you don’t have a personal brand, someone will do it for you. If you let this happen, you have no control and you may not like the story they create.

Standing out from others takes time and investment. Most people cannot make the change by themselves, and this is where engaging a personal brand coach is a viable option to consider.

Advertising

As a personal brand coach, working with my clients to create their personal brand is my passion. I love the fact that we can work together to create a personal story that defines exactly what people will say when you leave the room.

Other People’s Stories

Listening to other people’s stories is a great way to learn. In his article, 7 TED Talks About Personal Branding, Rafael Dos Santos presents the best Ted Talks where speakers share their stories about the “why,” “what,” and “how” of personal branding.((GuidedPR: 7 TED Talks About Personal Branding))

Take some time out to listen to these speakers sharing their stories and thoughts about personal branding. You will definitely learn so much about how you can start your journey of defining yourself and taking control of your professional and personal life.

Your personal brand, without a doubt, is your secret weapon to your career success. As Michelle Obama said,

“your story is what you have, what you will always have. It is something to own.”

So, go own your story. Go on the journey to create your personal brand that defines who you are, highlights your uniqueness, and the value you offer to the world.

Featured photo credit: Austin Distel via unsplash.com

Reference

Read Next