Successful Startups have only One Strength.
02nd, June 2017 - Startup community
You got an idea, you have your new startup. Congratulations! You have chosen a new life path.
In early days of starting up, your mind is filled with highly positive ENERGY and enthusiasm. The world looks so beautiful because you have just taken a new FLY.
“You are doing everything in such an enthusiastic way but sometimes you forget your strength”
You have FREEDOM to do what you want to do. You are your own boss. What a relief from a life you had before starting-up. You are doing sales, you are doing coding, you are doing meetings, hiring and everything which you knew but didn’t try or were not allowed to do so. It’s obvious that you have to take part in all activities of your startup business but you still need to find what your one strength is.
You have to find what you love and perform better than others. Is it marketing? Is it writing? Is it recruitment, technical or programming? What? Find it.
My Rule of Thumb is your strength and knowledge must contribute 70% to your startup and hire people for 30% with other skills. Please do not reverse the rule or your startup look like this – “a shoe maker is trying to build Food Company”
“Successful startups define their value in one word”
Here are some of the examples
Facebook = Connect (Social Media)
Entrepreneur brings knowledge and research to create that great value for the startup.
How to find strength of your startup
1. Check your PERFORMANCE and past results
The skills in which you outperform, that is the core strength. Here are few skills you always think you are the best – making the best team, networking, hiring, managing people, but actually they are NOT everybody’s cup of tea. If you write good articles, which gets hits and brings revenue, better keep doing it. Hire people for marketing and technical or other areas. Don’t do everything yourself. You can judge it better.
2. Draw the CORE vision
Your Vision is utmost IMPORTANT on this earth and in THIS life. Try to draw your vision which can be achieved in next 5 years or 15 years. What your company wants to be.
I recently met an entrepreneur who is doing great sales and profitable in his area, but his vision is large. He wants me to mentor him for the large vision to serve the entire country.
You need to draw what capabilities you have to do to achieve that vision. Don’t hesitate to hire intelligent people at top position
3. Be the leader
Support your team to let them explore their capabilities and compare yourself with your team’s performance. A startup is a mixture of many capabilities of team members.
When you are confused and find it difficult to get right feedback of what you can do and what you can not. Find the mentor, teacher, guru who may help you.
Once I thought I can’t sell, but my mentor suggested me to do that. In my startup, I sold different products to the same clients and explored my sales abilities with my mentor’s feedback. Teachers always show you the success path.
Know your strength.
Find it FAST.
Live Your Dream
Build your startup around your strength.
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Author: Mr Rakesh Sidana started his Entrepreneurial Journey in 2004 with International Business and later known for his passion and persistence for his unique business MeriCAR.com that brought “CHANGE” in the automotive industry. He is offering startups with professionally designed “I Want to Fly Mentorship Program”. NOTE: This Article is reproduced by the author of the book –“I want to fly, where are my wing” (a motivational book for students, startups and entrepreneurs). You can visit author page at http://www.rakeshsidana.org