Startups are among the most popular ways to launch a company for a good reason – with enough commitment and resilience, almost everyone can become a successful entrepreneur with a rock-solid business behind them. Highly volatile and risky, starting and running a startup requires experience and knowledge; and although the only way to learn from experience is by trial and error, getting familiar with the basics of startup entrepreneurship is the first step towards future success.
The idea
Even if you never had anything to do with the world of business, you are probably well-aware of the fact that it all starts with an idea. Few who have ever gotten into business merely for the sake of doing business or to get rich have ever reaped any success – the shiny path towards success is paved with a commitment to make a difference and help the world become a better place in some way.
On the other hand, coming up with a brilliant idea is extremely difficult; with 7.6 billion people in the world, chances are that someone has already come up with something similar. Moreover, you can’t just sit down and brainstorm about everything; guidelines have to be drawn in order for something potentially fruitful to pop up in your mind.
How are startups still thriving all over, then? Well, the essence of a small business entrepreneurship doesn’t rest with innovation exclusively, but with improvement, too! If you manage to borrow an existing idea and find a way to make that particular product/service more affordable, convenient or efficient, while still retaining a solid profit margin, you are bound to reach success, provided that you do not falter in other departments, such as marketing.
Take Apple, for example – the currently most successful company in the world hasn’t thrived on innovation, but on improvement – their unique line of products offers item categories that can be found elsewhere; however, the reliability, build quality and part compatibility of their iPods, iPads and Macs outweigh their competition by far. A successful company wants to indulge their customers, not only turn a profit.
The team
Someone once said that there is no “I” in “team” and likely profited from it. Although this is very much true, a team, unfortunately, isn’t always enough. If there actually is a fictional “I” in “team”, it needs to be an “I” that knows its true goals – supplying the market with a rock-solid end product.
A company is nothing without its employees, and if everyone’s goal is to earn good wages and punch out as soon as possible, the end product quality will inevitably suffer. While big names can’t afford to look too far past CVs and resumes, the glory of a small business is outlined in the fact that the small-timers can! Employing the power of social media with the goal of researching the employee candidates is immense – this is the essence of startup success.
For instance, if hiring someone with an awesome resume is good, finding the people who actively deal and love dealing with stuff that the given position requires is awesome! Using the social media with this goal in mind is absolutely allowed and in no way immoral. It’s called big data, and everyone should be doing it!
Employee satisfaction
On the other hand, it’s leaders job to keep a team happy. No matter how passionate about their work they are, their productivity will quickly take a downturn if you don’t treat them good.
This transcends solid wages and includes everything ranging from quality workplace conditions to tolerance and communication. For example, addressing all the security threats will let everyone sleep easier, so investing in quality security measures such as JD Security access control software is a must!
The idea, the team and their satisfaction are the three pillars of startup success. With a good idea and a team of people who will gladly work towards the company’s success, there will be no stopping you. Passion is a frequently overlooked aspect of business success.