There’s nothing more exciting than starting a new business venture. If the American Dream had a mascot it would be a bootstrapping entrepreneur proudly standing in front of his newly leased office space. His successful startup will surely change the world.
The feeling of limitless opportunity. Turning a new leaf. Chasing a dream. There’s nothing like it.
The only thing that might be better, is when you’re still standing there 5 years later and you can proudly call yourself a survivor. Heck, a thriver — a successful startup.
Check out these three tips to help you go from startup to still standing five years later and many more.
3 Things You Must Have to Create a Successful Startup
- Passion and Excitement. You know that feeling of excitement we were just talking about? Keep it around. Use it to fuel your long days. Out-working your competition is highly underrated. Passion is one of the entrepreneur’s most powerful assets. If your startup has the passion in the mix, you’re going to be able to out-work and outlast the competition.
- Expertise and Knowledge. Being both passionate and having the expertise to back it up will help you reach another level. Whatever it is you’re passionate about, use that passion to power a never ending thirst for knowledge about that field. Whatever industry, product, service, or niche you find yourself in — master it. Those who master a niche are destined to profit from it. If you can position yourself as a top-of-your-field professional, you’ll deliver. Word will spread. You’ll inevitably grow.
- Strategic Partnerships. Passion and expertise will get you far, but if you try to do it all on your own your success will eventually hit a ceiling. The most successful entrepreneurs don’t fly solo. They fly with a flock of trusted partnerships backing them up. If you aren’t the “sales type” then find a partner who is. If you can’t stand operation logistics, find someone who loves it. Find strategic vendors to partner with that will help you get where you want to go and stay there. As a startup, it’s important to consider forming partnerships that will help you sail through the rough waters.
Get these 3 things right, and you won’t only survive the startup phase, you will thrive. Standup, startup, and remain standing.