Don’t be discouraged, but over 50% of start-ups fail in the beginning. This isn’t a formulaic, fatalistic conclusion, and there’s no “right way” or “wrong way” to start up your start-up, but with every start-up comes the risk of failure.
However, there are certain tactics that are bound to fail. Having no online presence, for example, is one of them… Failing to have a clear business plan is another.
To start a successful start-up, it’s extremely important to be aware of scalability. This means staying smart about where time and energy is spent. Learning how to reduce time spent on finding solutions to critical problems helps free up time for more important tasks.
More importantly, and especially when a start-up is off on a volatile path with an undetermined future, it’s so important to stay flexible in your vision. Keep your social media presence alive and healthy, and be willing to change personalities if your current one isn’t working. A new company isn’t exactly the prototype of a human – you can redesign your start-up’s soul at will.
It’s also extremely crucial to take advantage of today’s increasingly global world; connect your business plan to it. Some of the highest 4G coverage is in random countries like South Korea, Japan and Australia. Stay afloat by staying open to what may change – either in your competition or within your company. Know how to scale yourself and delegate your time well.
Originally posted 2014-08-09 00:15:04.