If you’ve ever tried to start your own company, then you know that some of the “advice” you get from friends, relatives, and even perfect strangers isn’t always all that valuable.
It can range from the simply unhelpful (“Don’t go out of business!”), to the impossible (“Give it everything you’ve got!”), to the downright dangerous (“No matter what happens, stick it out!”), but you can bet that once everyone has offered their two cents’ worth, you probably won’t be any closer to grasping that elusive secret of success. Of course, that all changes when you’re getting your advice from some of the most successful entrepreneurs in the world. These people know what they’re talking about, and they’re willing to share their wisdom with you. Yes, you. So get ready to be enlightened, because here are nine pieces of startup advice from people who actually know what they’re talking about.
Here are the 8 secrets of startup success from a handful of successful entrepreneurs.
What I Wish I Had Known
1. Jared Kim (Founder & CEO of Forge)
“Don’t burn out. Take care of yourself by getting 8 hours of sleep, eat healthy, and exercise. If you don’t take care of yourself, there’s no way you can take care of your company in the long-term.”
It may seem as though your new company is the most important thing in the world, but it isn’t. If you sacrifice your own health and happiness for the sake of your company, then you’ll just end up without happiness in either.
2. Leo Widrich (Co-founder of Buffer)
“It took me years to finally start saying no to things that would take me away from what really needed my attention. No to meetings. No to interviews, and no to extra projects (for extra money.) When I implemented my daily to-do lists my whole day/week/month changed. I would only accept opportunities if they could come after my to-dos were completed.”
Sometimes, as the founder of a new startup, it’s easy to overload yourself. When new responsibilities or opportunities come along, feel free to put them on your plate, but only if they don’t end up costing you time and energy that should be going towards more important issues.
3. Mark Otero (Founder & CEO of Klicknation)
“Know your weaknesses: Knowing your weaknesses is as important as knowing what your strengths are, and even more important as your company grows; hire or have co-founders who are great in areas where you are weak.”
Chances are you’re not an expert in every area where your business will require you to be an expert. Maybe you have problems with finances. Maybe you just don’t get marketing. Maybe the idea of schmoozing with investors makes your sweat through your suit. Well, that’s all OK, as long as you’re sure to hire people who fill in the gaps in your armor, as the Mark Otero, founder of Klicknation, explains.
4. Todd Pedersen (Founder & CEO of Vivint)
“First, if you’re going to run a company, you have to provide the best service you possibly can for your customers. Second, you have to treat your employees like gold. And then three, everything else will work itself out.”
The secrets to building a successful company aren’t really secrets at all; you just give customers what they want and treat your employees well, like Todd Pedersen, CEO of Vivint, has said. Of course, just because it’s simple to say, it does not necessarily follow that it’s easy to implement.
5. Phineas Barnes (Partner at First Round Capital)
“Your choice of partners and investors should be thought of as permanent and are therefore the most important two decisions you make.”
Starting a business is a big commitment. In fact, if all goes well, then it may be a large part of your life for the rest of your life, as Phineas Barnes of First Round Capital explains. As such, you’ll want to be very careful about whom you include in your startup, because if you aren’t, you may end up having to deal with an imperfect fit for years—or even decades—to come.
6. Jeff Bezos (Founder & CEO of Amazon.com)
“I knew that if I failed I wouldn’t regret that, but I knew the one thing I might regret is not trying.”
For some reason, many of us have been conditioned to be more afraid of failure than we are of inaction. However, failure, in addition to being inherently valuable as a learning process, contains within it the chance of success. And no matter how small that chance is, it’s better than the chances of success when we choose not to even try.
7. Peter Berg (Founder of October Three)
“Be really picky with your hiring, and hire the absolute best people you possibly can. People are the most important component of almost every business, and attracting the best talent possible is going to make a huge difference.”
While CEO’s and founders, and the ideas on which their success is built, often get the spotlight when it comes to business, the truth is that it is the employees that actually breathe life into a company. Even the most innovative idea can wither and die without the right kind of support from a talented workforce, so give your hiring process the attention and time that it deserves.
8. Thomas Edison (Founder of General Electric)
“The value of an idea lies in the using of it.”
You have an idea that will change the world? Well, it’s not worth anything unless you can turn that idea into a reality. So take the plunge and see just how far that idea can take you. Or, you can sit around trading advice over the internet.
The choice is yours.
How to Launch Your Startup in 7 Easy Steps
We all want to manifest success in our lives. It fuels our desires to attain something. People perceive success differently as we have different desires. Some go after enriching themselves with material things to get financial freedom. Others study further to advance to the next level in their academic career. (more…)
3 Questions Your Startup Needs to Answer in Order to Maintain Focus
When I was a second lieutenant in the United States Marine Corps at 22 years old, one of my captains at The Basic School was a rugged Marine who’d been awarded the Bronze Star for defending an isolated combat outpost from repeated Taliban attacks. (more…)
3 Startup Workplace Trends You Need to Carefully Consider
One of the most notable parts of startup culture from the outside looking in is trends. You know the stereotype of the startup CEO — he’s wearing a hoodie that probably cost hundreds of dollars and running meetings from a bean bag chair. However, trendiness isn’t always the right choice for your business. It can be good for your startup to branch out, but some risks aren’t worth taking. (more…)
How Your Startup Can Effectively Collaborate With Influencers
As a startup, your priority is to attract, engage, and turn potential clients into lucrative, long-term consumers. And the optimal way to make this possible is by incorporating startup influencer marketing.
Most consumer brands these days collaborate with influencers to grow their business. Why? Because these individuals have built a lot of trust behind them, they can promote your product or services to their audience and get them to trust your brand. This is a huge sales-driving strategy, especially for new and upcoming businesses. (more…)
3 Powerful Methods Anyone Can Use to Create Real Results and Succeed Faster
8 Things You Can Do Right Now to Get Your Motivation Back
The Best Advice I Have to Give: Be Intentional With the Tension
To All Young People, Now is the Best Time to Change Your World
Here’s How You Can Immediately Stop That Inner Critic in Its Tracks
55 Inspirational Quotes That Will Change Your Life
(Images) 52 Motivational Picture Quotes For An Epic Year Of Success
30 Famous Quotes That Will Inspire Success In You
72 Positive Thinking Quotes For More Inner Strength & Growth
40 Rare Motivational and Inspirational Picture Quotes
3 Prince EA Videos To Change Humanities Path To Greatness
(Video) What Is Success? An Entrepreneurial Story To Inspire You
(Inspirational Video) What If Today You Knew You Were Going To Take Your Last Breath?
How To Make Enough Money From A Blog To Quit Your Job – Kate McKibbin
How Finding Your Passion And Becoming An Entrepreneur Can Lead To Happiness – Chiquita Searle
- Motivation4 weeks ago
Why Isn’t Anyone Talking About These 4 Motivation-Boosting Techniques?
- Quotes3 weeks ago
28 Inspirational Movie Quotes That Will Teach You the Most Valuable Life Lessons
- Entrepreneurs4 weeks ago
3 Ways to Overcome the Fear of Business Uncertainty
- Life3 weeks ago
Follow These 5 Steps to Find Your Inspiration When You Feel Lost
- Life3 weeks ago
Here’s What’s Really Holding You Back in Life and How to Get Past It
- Success Advice4 weeks ago
How to Defeat Imposter Syndrome and Bring Success Into Your Life
- Life3 weeks ago
16 Things I’d Tell My 20 Year Old Self Today
- Life3 weeks ago
7 Simple Reasons You Are Unhappy in Life