1. Perseverance is the Key

Steve Jobs got kicked out of Apple. While J.K. Rowling was writing the Harry Potter book, her life was a self-described clutter: she was going through a divorce and her only source of revenue was government aid and living in a tiny apartment with her daughter before building her millionaire brand. Henry Ford went broke five times before he founded the unbeaten Ford Motor Company. Bill Gates was unsuccessful with his initial business, Traf-O-Data.

Reading anecdotes about successful entrepreneurs is undoubtedly helpful. One thing that is universal amongst most successful entrepreneurs is that they were preserving, and if you want to be a thriving one you have to be preserving too.

2. Take Risk

Successful entrepreneurs are frequently taken as having an almost unhealthy taste for risk. Risk is a necessary thing to take when you are dealing with a startup. For example in the above examples, most of them took huge risks. Every successful entrepreneur in history took risks and that is the reason why they succeeded. After all, the courage to take risks is what differentiates successful entrepreneurs from the ones that do not do well.

3. Don’t think you’re the smartest person in the room

It’s easy to convince yourself you have all the answers to any problem. It is crucial for entrepreneurs to have the kind of open-mindedness that acknowledges you don’t have all the answers, and therefore only then can you strive to find solutions that are even better and efficient then your first instinct, and you can ask others for ideas too. Therefore, if you ever want to be a successful startup, you need to at least develop one mindset that is to not think yourself as the smartest by comparison with others as well as yourself.

4. Make something people want

The biggest mistake an entrepreneur can make happen is when you make something the market doesn’t want. If you do everything correct except for this single thing, you will be unsuccessful. But if you do everything wrong and you still make something the public wants, you will most likely do well.

5. Focus on quality

Spend all your money in the excellence of the product, no matter how much of a lean startup you are. That means to develop the best product there can be, and ultimately that will lead to your product being loved by the general public and lead to your startup’s success.

6. Hire the best people

Next one of our tips to entrepreneurs and startups has connection with hiring. What this means is to hire the best people you can find for the specific jobs, because after all it does not do to have a large capital and instead of investing on human capital you spend it else wise.

7. Focus on the smallest feasible product

It means to not start off with the greatest aim and goal in mind, instead don’t try to do too much. Everyone has grand ideas, some of which can come after wards but ask yourself what is the simplest thing you can build that has even a little value in it.

8. Train your team in the best manner

The most efficient way to engage your team is to continually train them. Train them by sending them to specific workshops, hold training meetings, anything that helps them develop themselves.

9. Listen to the customers

This means to ask from feedback and suggestions from the customers, and perhaps study them to find out what your product excels in and what it lacks. And then improve it accordingly.

10. Use Technology to your benefit

Whenever software can bring down the expenses of the physical world, make use of it. With the technological revolution, technology can really replace many of the menial tasks a startup may have … for the better. Therefore use the latest gadgets and software to improve the work flow.

 

If you will follow these simple tips to entrepreneurs and startups, there will be a higher chance for you to be succesful.