Is a bunch of money a must to launch a startup? Negative. It requires skills and knowledge that most people possess but often neglect. Those are time, patience, a deep understanding of a particular subject, curiosity, and motivation.
Often, Unicorn startups are founded by students who haven’t even finished university. Not even mentioning the MBA course. When a person sees a perspective and their eyes sparkle, nothing else matters. They can learn everything else.
It might be challenging to start such an adventure in college. Often your business tasks might crossover with your studying. In this case, college paper writing services might help. And also a big motivation to achieve your goals.
So What Exactly Are the Factors of Success?
Find Your Purpose
When you start the day with a crystal clear idea of your main goals in your head, it’s easier to stay motivated. Especially when you see your progress. Setting annual, quarterly, monthly, and weekly goals may seem like a boring process. But it helps you become focused.
Every startup should have a mission statement that describes the organization’s overall goals, culture, and core values. A mission statement serves to set a startup’s direction and motivate stakeholders.
Make a Plan (SMART)
A startup mission statement is useless without a plan for its implementation (both a personal and a professional one). The aim is to have a clear understanding of what you want to achieve, both short-term and long-term.
Naive optimism distorts reality and expectations. Make sure you will manage the workload and get all the possible help. Frustration, broken dreams, and apathy. You can avoid them by learning the method of setting tasks according to the SMART system.
Each letter of the acronym SMART means a criterion for the effectiveness of the set goals:
Follow this guide to track progress more effectively:
1. Visualize the specific result.
2. The goals should have clear indicators and characteristics: money, feedback, percentages, and likes. Using technology can help you count all the bucks or thumbs up.
3. The realism of the task affects the motivation of the performer. If the goal is unattainable, the probability of its fulfillment will tend to be 0. When considering any plans, make sure you correlate the available resources and opportunities with the desired result. For instance, material and moral resources, time, skills, knowledge, and financial opportunities.
4. Find out whether the methods of achieving the result are correctly defined, whether there are opportunities for a positive decision, and how to achieve the goal as effectively as possible. Take into account a fair and honest assessment of one’s own strengths.
5. Any important goal should have a limit in time. A certain period must be set aside for its fulfillment. This is one of the most important criteria for satisfaction, especially in drawing up a personal growth program.
SMART goal setting provides insight and an opportunity to predict goal achievement. Through this technique, the abstract “want” transforms from a “desired” result to a “planned” one.
Set the Routine
Start each day with a morning routine that helps your mind and body stay alert, focused, and ready to tackle a new project. Spend time every morning reviewing and refining your plan. But do not forget to water the plant that needs to bear fruit. Allow yourself a walk, an hour for reflection, meditation, or exercise, and do not forget to reward yourself sometimes.
When you share your goals with other people, you not only make them curious and happy. Also, you register them as passengers on your journey. Even more important, talk about achievements and goals when you have a team around you. Colleagues see that the founder is incredibly motivated and feel this positive energy.
Highly motivated people have more chances of getting their ventures going. Why? They always look for new ways to stay afloat and often challenge themselves to find new solutions. Motivation also helps to think outside the box and see the bigger picture.
Feed Your Curiosity
We often see that successful people are extremely inquisitive. Why is it important for a successful startup? It’s because of curiosity that they are able to learn their field well enough to see the problems that need fixing. So, it helps to create products that will be the solutions to said issues.
Choose the Environment
Quality people in your environment inspire you to push yourself beyond your limits. Their success, drive, and passion will motivate you. So who are these superheroes?
● Those who developed emotional intelligence. They become good team players and leaders. They know how to negotiate and get their way while leaving a good impression about themselves.
● People who move through life with confidence and purpose. They take responsibility and control their lives.
● Those who take care of themselves: learn new skills, improve their image, and can stand for themselves.
● They are open to feedback and are not afraid of making mistakes. Failure does not define them. They always look for opportunities to learn and grow.
There are many reasons to choose your environment and surround yourself with people who share your views on work ethic. Firstly, you will always feel supported and experience learning and growing in their company. You will inspire each other to be the best version of yourselves. This will give you confidence to go on.
Get Inspired by Success Stories
Rapid change can distract an entrepreneur from important goals. Do you set reminders on your phone? For making the payment, booking that dentist’s appointment, or ordering a present for your friend. You need the same kind of reminders in your business to stay on track.
What techniques can help you with that?
● motivational films;
● TED talks;
● interviews with startup founders;
● stories of the formation and success of other founders.
“If you approach your new startup as a marathon, not a sprint, you can put in place the ideas and attitudes that will help you succeed in the long run. Ignore the rush-to-market hype. You can give birth to your enterprise at your speed.” These words belong to Rick Therrien, the Board member of the Center for Ageless Entrepreneurs. They are a perfect note to conclude this article.