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Five Motivational Tips for Launching a Startup in 2017

Five Motivational Tips for Launching a Startup in 2017

Launching a startup is tricky business. There are few detailed roadmaps for how to do it successfully and most of the time it comes down to a good idea, a lot of hard work and a bit of luck. Not all startups are created equal.

But it’s not all just walking blindly in the dark without a guide. There are some things you can do and not do when launching a startup in 2017. Here is a list of five things to consider:

1. Just do it

As the part time philosopher and famous shoemaker once said – just do it. Begin. Whatever doubts you have, stop. Don’t worry about doing it perfectly from the beginning, or about making mistakes – you’re going to – so simply push them aside, don’t let them get in your way.

Nothing comes from nothing. Register the domain. Write some code. Get your logo designed. Your willpower is an incredible asset – it’s like a force of nature.

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So do it. Now. Just start. Why not?

2. Singular brand focus

Branding is crucial for any new business. You are your brand, and if it’s unclear to you what you are and who you are, then it will be unclear for everyone else too. Valentin Stalf, co-founder of the online-only bank N26, discusses their strategy here.

Essentially, they decided to build a mobile-first app, an app built with great design as the guiding principle. Rather than building something purely functional, and later asking the user to learn how to use their app because it has some potentially good features they might want to use, they built an app that people want to use – that people understand how to use right away. There was nothing accidental about it, their focus when developing the app was solely on making it a good experience for the end user and so far it’s succeeding for them.

What is your focus? What will you do that nobody else has thought of yet? What will you do that’s better than what’s currently available.

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3. Don’t be afraid to ask questions

Reid Hoffman, the co-founder of LinkedIn coined the phrase (and later wrote a book about it) “live life in permanent beta.” This is an important message as it conveys one of the struggles encountered in every startup. It’s easy to become confident when things are going well, and it’s easy to find yourself looking internally rather than externally for answers to questions that arise.

You’re not going to know everything. Sometimes you’ll need the advice of experts. Just remember that it’s not a sign of weakness to ask questions, it’s a sign of strength – of knowing your limits. Just as it’s equally important to remember that there is no finish line. Your product will never be done. Keep working and keep asking questions.

Live your life in permanent beta.

4. Find funding from the right investors

It’s important to surround yourself with people who share your vision. This applies to employees and investors alike. It’s critical that your investors understand what it is you’re trying to achieve with the business, that they understand and trust your decisions even if the path forward isn’t always clear.

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There are a few great options online to help you get started with finding the right people. Kabbage is one of the best options out there right now. It takes moments to apply and review your business performance. There are many options out there from companies like Square, with Square Capital or Fundbox. There have never been so many options available, and it’s key to get this partnership right if you want to grow your business the way you want.

5. Don’t lose your great company name

Registering your business name online is a snap with a multitude of online business registration sites. There’s no doubt that you should register your business name as soon as you know what it is, and it’s never been easier to do so.

Beyond losing your name to someone else, in most states, it’s the law. The exception to this is if you’re a sole proprietor or freelancer using your own name to conduct your business. John Doe, the freelance carpenter, doesn’t need to register if the business is solely in his name. Otherwise, it’s the law, as the public needs to know who is running the company.

With any online services, it’s easy to do. So don’t wait! Register your business today, and in 2017 you have one less thing to worry about on your path to conquering the world of business.

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As 2017 is right around the corner, now is the time to get started with your company today! With a new administration coming, it’s a great chance to kick off your new idea!

Featured photo credit: Startup Stock Photos via stocksnap.io

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Last Updated on May 15, 2019

10 Most Successful Entrepreneurs and What We Can Learn from Them

10 Most Successful Entrepreneurs and What We Can Learn from Them

Apart from making crucial decisions for their own businesses, entrepreneurs innovate and grow their ideas. Albeit there being no cookie-cutter answer that fits everyone’s experiences, taking a look at some of the most successful entrepreneurs today, you might spot some similar traits and characteristics.

Starting and nurturing a business entails a great amount of hard work and commitment. However, for aspiring entrepreneurs who are prepared to dedicate themselves to their vision, here are 10 most successful entrepreneurs you can learn from:

1. Melanie Perkins: Know Your Worth and Keep Trying

    Melanie Perkins founded Canva, a Sydney-based business valued at $1Billion having successfully raised a number of rounds of successful funding and boasting more than 10 Million users in 179 countries.[1]

    She told BBC that one of the biggest challenges she faced getting into the business was talking about her company’s accomplishments when she first got to Silicon Valley. She attributed this difficulty to a cultural difference where Australians tend to ‘talk down’ their achievements and this would slow down her fundraising progress for a few years.

    Despite hundreds of rejections, Melanie emerged three years later with a much clearer strategy and stronger investor pitch that prompted a series of fundraising rounds netting the company $82Million of funding in total.[2]

    2. Bill Gates: Keep Learning and Exploring

      If you don’t know Bill Gates, you likely know the company he founded – Microsoft.

      Bill Gates’ story is a prime example of nurturing an idea that might seem out of this world but make sense in the future. One of the most successful entrepreneurs in history did not complete his degree at Harvard University to pursue a vision that the technology would soon become the future.

      He told a white lie to Altair, saying that he had made a computer program for them, therefore pushing himself to create a system that would change modern history.

      “The most important speed issue is convincing everyone that the company’s survival depends on moving as fast as possible.”

      Gates’ success is built on self-improvement and the seeds of an idea.

      3. Elon Musk: Never Stop Innovating

        Traditional thinking suggests that in order to become a successful entrepreneur, one must focus in a single field or industry.

        Elon Musk, however, breaks that rule.

        Today, the multifaceted tech entrepreneur, investor, and engineer advocates for the diversification of skills and businesses by delving into various fields of interest.

        When done right, skills in a single domain can be carried over then applied into contrasting industries to create something new the world might need. Musk owes his accomplishments to a constant thirst for knowledge.

        Having birthed Tesla and a myriad of products across the arenas of aeronautics and software design, Musk continues to evolve as an entrepreneur and plans to innovate for the long haul.

        4. Richard Branson: Develop People First

          British entrepreneur Richard Branson founded Virgin Records in the early 1970s. Virgin Records has since grown into the Virgin Group, today responsible for over 400 companies.

          The billionaire is strongly particular about working with a team that shares his core values and aspirations.

          Branson believes that managing a business can become taxing, thus he acknowledges his employees for putting in the effort that they have.

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          A good leader knows how to raise morale for positive productivity. Utilising emotional intelligence and compassion is a game changer in seeing results within a team.

          Branson’s supports the idea of nurturing a positive work environment, with the belief that credentials must go hand-in-hand with an enthusiasm for work.

          5. Jeff Bezos: A Relentless Focus on Customer Satisfaction

            Having founded Amazon, Jeff Bezos is known to be one of America’s most successful entrepreneurs. The e-commerce pioneer fixates himself on angry customers with the belief that a business’s loopholes are found in the experiences of unsatisfied customers.

            For the 8th year in a row, customers have ranked Amazon as the number one in customer service (according to the American Customer Satisfaction Index).

            While numerous companies ignore unhappy customers, Bezos found success in learning from reviews and surveys. By focusing on customer service, Amazon shows they care, both for their customers and for rising above their competitors.

            While praise and recognition are signs that a business is accelerating, criticism is an opportunity to improve a product or a service.

            6. Mark Zuckerberg: Start Small, Think Big

              Valued at over 55 billion dollars today, Mark Zuckerberg built the first version of what would become a social networking giant in his Harvard University dorm room. As one of the world’s youngest entrepreneurs, Zuckerberg undoubtedly took countless calculated risks to get his brilliant idea to its current status with 2.38 billion active monthly users.

              “The biggest risk is not taking any risk.”

              He’s always daring to explore with a fearless mindset.

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              The young tech entrepreneur never shied away from innovating outside of the box. Soon after Facebook became a hit to users and advertisers, big corporations took interest in buying Facebook from Zuckerberg.

              However, he took the risk and decided to stay with his creation. Turning down billions of dollars offered by Yahoo CEO, Terry Semel, he envisioned turning his brainchild into something much bigger than what it already was then.

              7. Steve Jobs: Live Your Own Dreams

                Steve Jobs lived a rocky path all his life and an aspect of which is a tumultuous career.

                The founder of Apple endorsed his beliefs on the temporality of life and limitations of time. He preached about the importance of working on the very legacies people wish to leave behind, an achievement he’s undoubtedly etched into the the archives of human history.

                Never one to hide under someone’s shadow, Jobs did not live by anybody else’s principles so he formed his own. He tirelessly dedicated himself to building a unique brand of products that became the benchmark for contemporary technology.

                After his highs and lows through his brief battle with cancer, Jobs concludes with yet another lesson to takeaway from his remarkable life. “No matter how much money you have, even the richest man can’t buy time.”

                8. Warren Buffett: Balance is Essential to Success

                  Despite being the third wealthiest person in the world, Warrant Buffett sported a frugal lifestyle for most of his life.

                  After buying a house in Omaha, Nebraska for just above 31,000 dollars, he has lived there since 1958. As a leading investor and a founder at Berkshire Hathaway, Buffett believes in setting aside an amount to save and spend only on necessities.

                  With a long term goal as a top priority in mind always, treating oneself can be sustainable once in a while. He advices to save money by deciding first and foremost what aspects to scrimp on and what aspects to splurge on to ensure a happy and balanced lifestyle.

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                  9. Jack Ma: Never Give up

                    On every journey to success, everybody stumbles and arrives at roadblocks. Some more than most, like Jack Ma, who survived countless rejections and failures only to get back up and brave every storm.

                    Ma is the founder of multinational technology conglomerate Alibaba Group. Despite being rejected to Harvard after every one of his 10 applications, Ma was never defeated.

                    His grit and tenacity is a fine testament to the fact that grades do not determine a future. While qualifications on paper are important, the development of skills and an attitude is just as helpful in making a recipe for success.

                    Despite finding himself in the verge of bankruptcy in the 1990s, Jack Ma possessed the resilience to put one foot in front of the other until he finally made it. “It’s important to have patience,” he says.

                    10. Tan Min Liang: Passion Can Pay Off

                      Tan Min Liang is the founder of the leading high-performance gaming hardware, Razer. Always on the look out for new opportunities to connect and scale his business, Tan has been bold in making many of his life’s decisions.

                      Having deviated from a traditional path set by a family that consists of doctors and lawyers, Tan was to find his life’s work and passion while gaming with his older brother.

                      The idea was simple: there were so many games out there to play, however, there were hardly any gaming equipment to match this.

                      So he dropped out of law and began going a different direction, into creating solutions in the gaming industry. At the start of 2019, Tan wrote to tech luminary Elon Musk to which Musk’s reply suggested of a joint venture between two of the most successful entrepreneurs today.

                      Final Thoughts

                      In today’s cutthroat world, the road to becoming a successful entrepreneur is a long and arduous process trailed with ups and downs. A valuable lesson that a good hand of entrepreneurs would love to convey to aspiring entrepreneurs is to keep the spirit of innovation and to explore uncharted waters.

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                      Learning from experience and failure is one direction to a desired end goal. Exhibiting the same dedication and grit so many entrepreneurs have through their unexpected careers – today’s budding visionaries ought to hang on their dreams and leave room for improvement along the way.

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                      Featured photo credit: Patrick Tomasso via unsplash.com

                      Reference

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