When Business Startups Succeed
There are some really depressing statistics about how many business startups fail in their 1st year, and then how many in their 2nd, all the way up to 10 years! Instead of dwelling on those let’s focus on the positives and concentrate on when startups succeed.
I coach (and have coached) loads of startup business (in their 1st 18 months) owners, so it’s easy for me to profile a successful one. Here are their traits for those of you who want to complete a mental check list:
They are determined and have a real will to succeed (no matter what)
You hear so many attributes branded about of an entrepreneur, sole trader, business owner – however you refer to yourself. The successful startup owner is determined to make their business work, they know that their business will work (deep, deep down) as they are passionate about their idea and no other career will do. They may of course be lacking all the skills right now to get their message to market, but they are willing to do anything to make it happen; whether that’s a job behind the scenes doing something they really don’t enjoy to make ends meet to stepping way outside their comfort zone in order to get where they’re going. Cut to me 8 years ago working as a gardener in a friends business in order to keep my coaching dream alive.
They are willing to stick their head above the parapet and say I need help
I see the opposite of this all day long on the high street: beautiful shops where so much love has been poured into them, however their doors are shut firmly, there are no perusing customers and the owner is behind the counter just hoping for the best.
The successful startups are out networking in their local area, attending courses and workshops to enhance their reach, knowledge etc and are on social media sharing helpful hints and tips with their potential customer. They are willing to ask other like-minded business owners for help and advice, share challenges and gain support on everyday issues. Coaching for most successful startups is happening on a daily basis.
They are open to others’ ideas and new opportunities
See above. When attending or taking part in networking, whatever the format – online or face to face – formal or informal, the successful startup is open to listening to others who have been there and done it and still doing it. I hear lots of people saying ‘that wouldn’t work for my business’ or ‘my customer wouldn’t want that’. How do you know, you’ve never tried it?
Business opportunities come in all different shapes and sizes – lots of times they are seriously disguised! It’s your job to be open. If you’re waiting for someone to say your product is great and I want to work with you now, you will be waiting (and will be broke and hungry) for a long time.
They have clear set and SMART goals of what they want to achieve in the next 12 months
If you know what you want to achieve you know where you’re heading and how you’re going to get there. Would you set out on a car journey to a new destination without looking at a map or putting it into the sat nav? Goals and objectives and the ‘how’s’ behind them give the milestones and steps you need to take to get your product to market and to keep it there in front of the customers who need and want what you have to offer. Goals give you the reasons why you want to get to where you want to get to.
If you’re in the 1st 18 months of your business and you want to work with a coach to help with direction and creating a plan of action, then get in touch.