Startups have a great propensity to fail if the founder fails to get the right skill. Having crossed the corridor of business has shown us that tenacity and third for improvement is key to business success.
The journey from building a company in a garage and growing it until it’s worth billions of dollars can seem quite glamorous. But behind-the-scenes, there are sleepless nights and gut-wrenching decisions. Or as Jonathan Neman, co-founder of Sweetgreen put it: ” As startups, you’re as much on the verge of a bankruptcy as you are of world domination.”
Startups view the uncertainties of 2021, as one filled with tougher decisions like never before and also wonder how the right decisions to upscale will come through.
Startups will be faced with daunting competition in the business world. They may also experience a crash in business applications for some reasons
So when things get tough, do you panic? Or does stress wake you up and create maniacal focus? I invest in entrepreneurs who fall into the latter category. And if you’re still working on that muscle, It is recommended that startups surround themselves with a network of industry-tested advisors.
A big part of resilience every intentional startup must understand is knowing when and how to take a healthy rest. When you’ve had a tough day, give your brain the space to reset by acknowledging that you’re going to come back stronger tomorrow, ready to get back to work.
As Startups aim to define the future of things, there is a need for them to have a strong vision of what the future looks like. It’s your job to always strategize about where your company should be in one to three years. That ability to think a few years out is pretty cool. By that, every startup can rely on talents handling executions of the business goals.
During early days as startups, it’s easy to get swept up in every single detail but as an intentional business-oriented startup, that means personally replying to customer emails and obsessing over product mockups.
But once your team scales, it’s time to delegate. Joel Flory, co-founder, and CEO of VSCO, said: “I feel like I’m reinventing myself every six months…I’m needing to be a new version of myself. I think that’s been the greatest joy and challenge of being an entrepreneur.”
Hire a strong team around you, so you can lift your head up and look out to where the business needs to be a few years out. You still need to pay attention to all areas of the company, but through a different lens: Is the technology we’re building today going to scale when we have a million users? How much capital will we need to raise to hit our next milestones-and when? How can we drive more innovation in our product roadmap to stay ahead of the competition?
As an intentional startup, a big part of the job is to identify founders who have that “it factor” that hard-to-define feeling that this is the right person to shepherd a company from idea to success.
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