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11 Crucial Tactics For Starting A Business

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Having a successful business is what most young people dream about. Independency, freedom of choice, and financial well-being are just a few things a successful startup can give you.

Many startups fail not because their ideas are not good enough, but because they have the wrong approach towards the whole thing. It is impossible to say how to start up with your idea and become successful right away. However, there are some practical tips that will help for sure.

Here are the 11 crucial tactics for starting a business

1. Don’t be afraid to fail

Starting up your own business, you should be ready to fail. Small failures can give you priceless experience. In your failures, you can find a success recipe for your next undertaking.

Here are a couple of bright examples; simply think about them. PayPal was the fifth business try of Max Levchin. Angry Birds is the fifty second try and the first big success of Rovio Company. Impressive, isn’t it?

You cannot learn to ride a bike only reading about it. You need to pedal, to fall a couple of times, to feel how it works and only then you can confidently ride it. And when you ride along a bad road in terrible weather, you can then overcome any obstacles in the future. Startups are also like that. You fail and learn your lessons the hard way only to get up and to achieve success.

 “Failure isn’t fatal, but failure to change might be” – John Wooden

2. Make sure you and your investors are on the same page

Money is an important part of a start up campaign, but be careful with it and pick the right source. As your investors will be shareholders in your company, you will practically be “married” to them. That is why it is better if you like your investors. Check if you share similar ideas and attitude towards your startup. If you have any doubts, better look for someone else.

 

3. Don’t try to make it alone

Most of the startups created by one person fail. You need to have a strong team of co-founders. Don’t start a project if you don’t have a good designer, marketing specialist, developer and techies. Try not to see these people as your employees, treat them as your co-founders and partners and they will be more driven to make the project successful.

 

4. Don’t worry if you cannot afford an office

Not every startup gets big investments the moment they think of a business idea. You have to create a plan and develop your idea into something bigger first. At this point, all you may have is this idea, some like-minded people and some money to implement this idea.

Don’t worry if you cannot allow a big fancy office for your startup. Numerous successful businesses started their lives in the houses or garages of their creators. Among them are Apple, Amazon, Microsoft, Disney, Google, Nike and many other business giants.

 

5. Always get yourself and your partners motivated

Motivation is what makes people create great things. Find something that makes you motivated and constantly think about it. It can be anything starting from a deep desire to see your product helping people and finishing with a simple wish to become rich.

And never forget to motivate your team. If you cannot motivate them financially yet, use other tactics. Always remind them of your goals, arrange different creative brainstorming sessions and simply hang out together and talk about all the great things you will accomplish.

 

Teamwork
 

6. Don’t focus on the race

On a competitive market, it is easy to focus on the race with your competitors trying not to yield to them. Do your own thing and put the energy into the things that seem important to you. Maybe your ideas will change all the rules and your competitors will then have to play your way.

Of course you have to know what your competitors do, but instead of trying to be more like them, focus on your target audience and find out what it values the most. Then try to give it to people. If you don’t, someone else will.

 

7. Mistakes are your best teachers

As Mark Suster says in his article on entrepreneurship, the main quality of a successful startup “is the ability to spot your mistakes, correct quickly and not repeat the mistakes”. Of course, it is very cool if you’ve witnessed some other entrepreneurs’ mistakes and learnt their lesson, but usually it is your own mistakes that teach you best.

 

8. Freelancers and outsourcers are your good friends

Let’s say you have a great idea but you live far away from like-minded people. Or the programmers or designers who are ready to work with you are not bright enough to create a successful project. In these or other similar situations, you have a great option of finding talented people and doing some business magic with them distantly.

With all the technology we have now, you can easily make it work. Of course there can be some issues, but every team has problems whether they work in one building or in different parts of the world. Before hiring someone from far away, though, you need to get tips for working with freelancers. For example, you need to make sure you can rely on these people and you can contact them any time you need it.

 

9. Don’t let routine kill your enthusiasm

Many startups begin their project full of energy and enthusiasm. However, when they encounter routine tasks and some difficulties, many of them give up and abandon the whole thing. Starting your project, you need to be ready for routine and for problems. Don’t forget to focus on your goals and to keep following your ideas and your dreams.

 

10. Don’t procrastinate

Startups are all about the speed. If you don’t realize your ideas fast, someone else just might do it before you. Procrastinating is unacceptable in a startup. You need to constantly move forward and not get distracted by dull things that stop you from progressing.

“Only put off until tomorrow what you are willing to die having left undone” – Pablo Picasso 

11. Deal with your personal issues

Your life and your work are inevitably connected. If there are too many personal problems in your life, it would be difficult to focus on your project and to give it 100% of your dedication. So, a successful start up demands you to deal with your troubles, to let go of all the things that hold you down and to feel happy about your life. Only then will you be able to create something truly great.

Hopefully this small business startup guide can help at least some of you to start working to make your ideas a reality. If you have a killer idea and you think all the basic things through, no one can stop you on your way to success.

Which one of these tips do you think is the most important and why? Please leave your thoughts in the comment section below!

William Sarto is an experimenting content strategist at GoHunters - freelance writing board. His passion is helping people to reach success! William primary interests are startups, marketing and growth hacks. He enjoys trying new techniques and sharing his experience with people. Stay tuned on Twitter!

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4 Comments

4 Comments

  1. Dominic

    Jan 26, 2016 at 6:00 am

    Procrastination is the biggest challenge of any startup. I found a good quote somewhere that says “If it only takes two minutes, just do it”. Hope it helps

  2. Wordsmith

    Dec 21, 2015 at 1:12 pm

    As a freelance writer, I especially like #8 in your list of pointers! The only thing I would add is the importance of taking personal responsibility. I believe that success is the result of deliberate planning, taking purposeful action, and making a commitment to producing results on a consistent basis. Former president Harry Truman said it best (and succinctly) when he coined the phrase, “The buck stops here!”

  3. Charlene Rhinehart

    Dec 20, 2015 at 8:29 am

    Great advice, William! I really like your point about procrastination. You have to understand that procrastination is unacceptable for a start up. Speed and a sense of urgency need to be present or your brilliant idea could become obsolete or someone else’s million dollar idea.

  4. Patricia McGee/Natural Serendipity

    Dec 15, 2015 at 11:48 am

    I think there is a lot I can learn from your pages. Thank you.

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Startups

8 Key Factors That Discourage Investors From Putting Money Into Your Startup

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how to find funding for your startup
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Today’s ideas are tomorrow’s winning businesses. Ideas executed brilliantly and with proper investment bring your business success. That is how the world of business got the likes of Apple, Google, McDonald’s, Amazon and so on.

But why in spite of the brilliant and promising ideas at the core of their business, many startups fail to attract investors? Why do investors hesitate to put their money into some startups? Well, investors have reasons and only by deciphering these reasons we could get hold of some deterrent factors that hold them back.

Let us explain some of the vital factors that prevent investors from putting their money in the startups below:

1. Inefficiency or Absence of Leadership Qualities

Inefficiency is the most significant deterrent factor for pulling the success of most startups. This can also be referred to as the lack of leadership qualities. Investors always want to make sure that they don’t lose their money through a company that has an extraordinary business model but no efficient and skilled business leader to make it successful. When fetching investment from investors, you need to offer a clear prospect and detailed plan of how you are going to achieve the goals.

2. Lack of Trustworthiness

An investor puts his money on a venture purely on the basis of the credibility and trustworthiness of the business. This is why besides having a sound business plan with clear objectives, you need to establish the integrity in terms of the security of the investor’s money and how the fund is going to be invested to give results as per business plan.

If an investor has a feeling that the startup may not have enough customers to fulfil its financial liabilities or if it finds that the business is hiding some information, it may further push the trust of the investors down. Total transparency and establishing the faith of the business brand are crucial for finding investors in favor.

3. Lacking Experience in Business Management

You have a great business idea backed up by a sound business plan and solid trustworthiness based on your background, but you have zero experience in managing a business. This is a serious reason for an investor to deny making any investment in your business. An investor cannot put his money just to allow you trying and learning your management skills the harder and riskier way. Uncertainty is the single biggest turn-off factor for any investor and lack of managerial experience is synonymous to that.

4. Business Model is Not Sound Enough

You have a business idea, some efficient, competent and experienced professionals as leaders, the great stamp of trust and pretty much everything that make a company look promising. But what about your business strategy and business model? Are they sound enough to take on the market competition and challenges for business growth? Well, this is what investors are most interested in.

In most cases, a business model is what makes an investor think twice and even take a backward step from investing in a startup. After all, your business model and strategy will decide how your business and products will be able to withstand competition and become victorious.

5. Taking Investors for Granted

This is a big mistake on the part of many startups. Just by becoming confident in the potential and the soundness of the business model and prospect, a business can consider getting investors on board requires just a little effort and time. But in reality, getting investors on board is the toughest thing a business can think of.

This is why without proper and meticulous preparation, it would be foolish to approach investors for your business. Most investors receive hundreds of such emails and a similar number of approaches through other means and they coldly just let them pass. This is why you need to send them very detailed proposals backed by strong recommendations and referrals.

6. Targeting the Wrong Investor

Every business has a target customer base, right? Not all customers are interested in every product in the market. Similarly, not all investors are interested in your business. Investors based on their prior experience and industry exposure, put their money in businesses that they know like their own palm of their hand.

So, targeting an investor who has no interest in your business will only drain your energy and bring you unnecessary frustration. When you are seeking investors for your software startup, don’t approach someone investing in real estate business.

7. Non-Realistic Proposal for Funds

Investors normally come with huge experience of your industry and so they have a clear idea about the fund requirements for your business startup. Moreover, they already have invested in other ventures or have gone through many proposals. Naturally, they have every bit of estimate already in their mind. So, any proposal claiming a lofty and unrealistic amount will only face rejection.

This is why it would be wise to become meticulous about your estimation of the required fund and calculation of various cost factors. Have meticulous details about every facet of investment backed up by breakup of the costs. Only when you can convince them with correct estimation, investors can take interest in discussing the matter further.

8. Make Sure Your Product Solves a Customer Problem

Will any investor put money in building a simple calendar app now? No, simply because such an app idea has no value for the end users now. Will an investor put money in a product that has already been outdated and has no use? No, no investor has to even go through such a proposal for dismissing them.

Well, to fetch investment, your product must be thoroughly customer-centric. It not only has to solve a problem but has to deliver some competitive value in comparison to similar products in the market.

Obviously, finding an investor for a new business is not an easy task, considering the huge competition that businesses need to deal with. But, if your business idea is unique and you fill all those requirements correctly as mentioned above, finding investors may not be as tough as it sounds.

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5 Must Have Branding Tools for Your Startup

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Your brand is more than just the colors on your website. And for startups, it’s important to create a strong and memorable brand from the beginning if you want to stand out from the competition, scale your company, and find your ideal customers faster.

Here are 5 simple tools that will help your company avoid branding mistakes, take charge of your visual identity, and set a solid foundation for future growth:

1. Graphic Design Software

The word “design” doesn’t have to be overwhelming. Before deciding on your startup’s logo, colors, designs, and overall tone, consider working with a brand strategist who can translate the core ingredients of your startup into a visual identity that speaks to your target market.

Brand strategists have expertise in the psychology of colors, shapes, textures, and words, and they will work with you to make sure that your branding appeals to your target audience. Once you have those basics of your brand established, there are several tools that can help your company refresh and maintain your visual identity.

The absolute best graphic design tool for non-designers is Canva. While the free version has a lot of functionality, the paid plans offer more customization such as the ability to import your exact brand fonts and colors.

But if your company handles all of your design in-house, you will need something more advanced than Canva. In that situation, I would recommend Adobe Creative Cloud to startups who work on their designs in-house, as it includes top-notch design software like Photoshop, Illustrator, Lightroom, InDesign, and more.

“Branding is what people say about you when you are not in the room – Jeff Bezos

2. Visuals & Creative Imagery

Have you ever wondered where your competitors get those beautiful branded photographs that end up on their website? While it’s possible that they worked with a photographer, it’s also likely that much of their imagery comes from stock photos.

Here are my recommendations on the exact places to purchase stock imagery to improve your company’s branding:

  • Creative Market – A treasure trove of quality visual imagery where you can buy anything from stock photos, to branding mockups, to social media templates (Facebook cover photo, anyone?), to custom fonts… the options are nearly endless.
  • Adobe Stock – Beloved by designers, and the platform offers tiered pricing plans based on your image needs and download quantity.
  • Pixels – If you’re on a tight budget and just need to grab an image or two for a blog post, you may be able to find what you need on Pixels – which is great because all of the photos and videos on Pixels are free!

3. Social Media Scheduler

You’re a leader. You’re an entrepreneur. Your staff, board, funders, and admirers depend on you to make big decisions, lead the ship, and plot the vision towards your company’s future. You don’t have time to stare at a blank screen every day wondering what to post on Facebook.

By using a social media scheduling tool, you can sit down for a few hours, schedule batches of content, and schedule the dates and times when it will post to your accounts over the next couple of months. Then, once the content is posted, you only need to worry about responding to comments and engaging with your customers. 21st century efficiency at its finest.

Popular social media schedulers include Buffer and Hootsuite, both of which include free and paid plans. Not sure what exactly to post? Check out these social media ideas from influential businesses. And if the idea of writing and planning months of content still overwhelms you, our next tool will help you stay organized and on-brand.

4. Editorial Calendar

When it comes to your content, it’s time to step it up a notch and start thinking like a media outlet. Every piece of content that you put out as a company, whether it’s an e-mail blast, blog post, social media post, podcast, or video, needs to be aligned with your brand.

Each major magazine maintains an editorial calendar which outlines the overarching theme for each of the upcoming 12+ months. By establishing a monthly content theme in advance, they create a framework to generate and organize their ideas.

Consider creating an internal editorial calendar that will guide your startup’s content over the next 6-12 months. The software tool you use to maintain your editorial calendar isn’t that important — I like to use Trello, but you can also create a simple numbered list in Google Docs or Microsoft Excel. You may be surprised at how quickly the creative juices flow once you have an editorial calendar in place.

“Design is the silent ambassador of your brand.” – Paul Rand

5. In-Person Networking

Offline efforts count towards your branding too! And if you run your entire startup from behind your laptop screen, you miss out on ample opportunities to build your business offline and gain local referral partners.

If you’re new to in-person networking, start by visiting Meetup.com or Eventbrite.com where you can browse for events in your area. Think outside the box when it comes to selecting events to attend. For example: If you’re a chiropractor, it makes sense to attend local holistic health meetups. But you could also attend a travel event and meet digital nomads who don’t yet realize that a chiropractor can help them recover after long plane rides.

Remember that you’re not at the networking event to make instant sales, you’re looking for referral partners and connections. Don’t be the person who tries to shove your sales pitch down everyone’s throat upon meeting them.

As you can see, there are many simple online and offline resources that can help you spruce up your branding, reach new customers, and pique the interest of your target market. If you take branding one step at a time and start with the tools above, you will be well on your way to creating a brand that your customers will cherish and remember.

Have you used any of these branding tools before? Are there any additional tools that have helped your startup’s branding shine? Share your thoughts below!

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5 Ways to Deal With Startup Uncertainty

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Starting your own company may sound like a dream come true in your mind, on social media, and to all the people looking on in envy from their office jobs. But when the fantasy fades, you realize how much uncertainty you now have in your life. The inherent risk in any startup is that you are trading the certainty of a normal job for real growth and freedom. What people get from office jobs is much more than a steady pay check and free coffee. It’s a sense of certainty that their lives, work, and finances are in order.

You will have to give up certainty to fully take on the risks of this lifestyle. It will be roller-coaster and something you need to prepare for. Logically, it’s easy to know that. But emotionally, there are so many ups and downs in an entrepreneur’s life. Stress, frustration, and decreased motivation are inevitable.

Here are 5 ways you can deal with startup uncertainty:

1. Stick to a morning routine

There’s many ways to start a morning routine. What’s important is to have a stable, predictable routine. This centers your mind and gives you some order to your day. You manage your business and you can do whatever you want. No boss and no one telling you what to do, it can be mix of productive to outright messy days. By giving yourself some stability, you start the day off in a predictable way so that you can jump into work each day.

It’s as easy as taking your dog to the park, having a cup of coffee, and listening to a motivating audiobook for 20 minutes. You may need meditation to get into the state. Whatever it is that you need to get from a sleepy/hungover mindset to that of taking on the day.

“If you win the morning, you win the day.” – Tim Ferriss

2. Make time for high performance books

Speaking of audiobooks, everyone – especially entrepreneurs, need motivation. Get a few motivating books from other business leaders. This will do incredible things for your mindset and the way you think. Most of them help by keeping you excited for bigger goals. Look for classics from Jim Rohn and Tony Robbins. Or the newer motivational personalities like David Goggins and Rachel Hollis. You’ll be surprised at how much hearing someone’s hardships on their journey will help you on your own.

3. Schedule your week

It’s easy to get a packed calendar working an office job. Everyone else in the company seems to be demanding your time for one meeting or another. Pointless meetings are even the reason some people leave their jobs in the first place. The issue with having your own startup is that while the pointless meetings are gone, so too is any semblance of structure from a filled up calendar.

Spend one evening and fill the upcoming week as much as possible. I recommend Sunday afternoons to think about your goals. Plan big tasks every day throughout the week. That way you always know what you should be working on and stay on track.

4. Hit the gym

This one is actually part of my morning routine and it’s benefits can’t be overstated. Exercise helps fight off anxiety and stress. There’s no better way to funnel your business frustrations more than into the weights. By the time you’re done, your body and mind will be much more relaxed. A necessity when it comes to the tension of being an entrepreneur. Whether that’s staring at your laptop or making sales calls.

“Daily exercise is an insurance policy for future illness.” – Robin Sharma

5. Be grateful

Gratitude was one of the feel good things that I always used to skip whenever it was mentioned. I wanted cold, calculated strategy or tools I could use to build a business as fast as possible. Many brilliant minds in not only self help but also in business, speak about the need for gratitude.

Here’s why it helps me when the business is going through growing pains or everything seems like it is going wrong. I get filled with doubt and uncertainty and gratitude is the quickest way to relief.

Yes, starting your own business is a massive effort, but there is always some job out there. You decided to launch something of your own because you don’t want a baseline existence. You want to grow and build with the freedom someone can only give themselves.

That alone is enough to be grateful. But if you need more, how about that most people are too scared to do what you’re doing. Or that you are taking the time to believe in yourself and live a life of taking chances.

That speaks to your character and self-worth. Much more than the life of quiet misery so many people in the world allow to decide their entire lifestyle. Be grateful you have this opportunity and make the most of it.

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The Best Side Hustle You Can Start Today In Just 15 Minutes

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The best side hustle you can start in 15 minutes is blogging.

It can be writing, making videos or speaking about topics you love through a regular podcast show. All of these acts are a form of blogging.


15 minutes is not long

That’s why blogging is a good choice.

A video that’s less than 15 minutes is easy to make and will work well.

A short piece of writing can be written in under 15 minutes.

A 10-minute audio conversation on one single question will give people heaps of value and detail in one particular area.

Starting is not where the power lies. Doing this side hustle every single day is how you get what you’re really looking for.


Many successful people are doing this

Whether it’s Hollywood actors like Will Smith or writers like Tim Ferriss or musicians like Ariana Grande — everyone is doing it.

Why is everyone doing the side hustle of blogging?

  1. It’s how we connect with each other.
  2. It actually works.
  3. It’s a way to create an audience which can become a business.

I didn’t invent this side hustle

I just tried it for myself and saw how powerful it was.

It got me:

  • New clients for my 9–5
  • A new 4 day a week day job
  • Clients to coach via Skype
  • Features in major publications like CNBC
  • The opportunity to meet amazing human beings like LinkedIn influencer Michael Chapman

The side hustle of blogging gave me meaning for my life

Before this side hustle, I was washed up, uninspired, negative and pissed off with the world.

Spending 15 minutes to start the habit of blogging got me out of my head. It forced me to search all over the internet and find things to talk about. Pretty soon I was spending 2+ hours a night researching personal development and figuring out what I wanted to blog about.

Blogging led me to want to help the homeless, share my very private battle with mental illness, come to grips with my startup failures and share the lessons, and even overcome my fear of public speaking in the process.

Now I have a meaning for my life thanks to the side hustle of blogging. I reckon it can do the same to help you grow and get you to the next level. You can blog about whatever you want and then watch it grow from there.


Why is blogging the best side hustle?

It’s how you be creative.
It’s how you express yourself.
It’s how you grow.
It’s how you attract the right people into your life.

There are many side hustles you could choose. Blogging is one of many. In my opinion and based on my experience, it’s the best. There are so many avenues you can go down.

Attracting what you want in your life has a lot to do with what you’re putting out into the world”

Blogging is a fantastic way to put out more of what’s important to you, into the world. Like a magnet, blogging attracts more of what you put out into your life.


Oh and don’t forget the income

Investing, giving back and making an income are all possible through blogging too. Part of my monthly income comes from blogging.

This allows me to back causes that help those in need, invest in stocks that provide me with a passive income and have money to spend on the occasional treat such as dinner dates and drinks with my co-workers.

That money comes from:

  1. Ghostwriting for other people
  2. Posting on Medium.com
  3. Coaching clients via Skype
  4. Consulting to businesses on how they can create content that aligns with their brand

There aren’t too many side hustles that can do that for you

Seriously, blogging is a game-changer. It’s a habit you can start in 15 minutes and repeat daily without much effort. Choose your poison — writing, video or audio — and then get started.

Do it for around twelve months and then send me an email with what you experience. I already know, having challenged lots of people already to start this side hustle, that it will work. It just requires patience and the habit of doing it daily.

15 minutes to start today.

And then 15 minutes every day for the rest of your life.

Try it.

<<<>>>

If you want to increase your productivity and learn some more valuable life hacks, then join my private mailing list on timdenning.net

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