We are a newly born IT Startup, but we’ve been working to get to this stage for a long while. Right now anyone may think that our long established competitors are beyond reach but we are firm believers that anything is possible, the key is to know what you are aiming for and to keep going. Building and launching a business is tough, it will probably be tougher than you expect, but making a business is ultimately fruitless if you haven’t made preparations on how to keep going, even and especially when not making a profit. Be prepared, stay motivated and keep the shop doors open and there is no reason why you won’t achieve success. The following is a list of some of the things we have learned so far and what kept us motivated during the making of our business. If you are making a business right now we hope you find these insights useful, please feel free to add your own experiences in comments.
1. Don’t start a Start up that you’re not willing to work on for the next 10 or 20 years. You have to have passion for what you do, otherwise “giving up” will be an easy option to take when things start to get tough. We love what we do, if we didn’t we would have quit a long time ago.
2. Make something people want. If what you are making is not unique, then invest a lot of time in researching your industry and formulate strategies on how to make your business more appealing than the competition. You may not be able to implement many of these strategies by the time of your launch, but at least plan for them and launch them in gradual steps over time. Don’t be tempted to think that you must have the perfect product by the time of your launch, you may never launch if you think like that. Everything takes time, be patient.
3. As well as a great market, a great team is also critically important – you need both. We now have a dedicated team who really understand our mission. Hiring is one of the most important things you will do. Big companies easily attract great talent, but if you are a Startup you have to search much more. If you find that those you hire don’t care enough, they will likely help you to fail than be part of a success story. Be decisive and get rid of them at the earliest opportunity, no matter how talented they are. The right people are always out there and you will find them if you search hard enough.
4. Never fear failure. Success is your destination. The setbacks are just that, they will set you back but you can overcome all of them, learn from them and keep moving forward. It is surprising what you can achieve with dog-headed determination.
5. Find out the opinions from people outside your team. Some of the best advice and feedback can come from people not directly related to your project, ask for the opinions of friends who know your industry, or people you know who have made businesses or worked in Startups. Be observant though, sometimes for their own reasons the people you ask may not actually want you to succeed, so trust your instinct.
6. Set a clear vision for your company, and make it a mission people believe in.
7. Be resourceful. Making and running a microstock site can be extremely expensive. Yuri Arcurs spent 2 years and 3.4 million dollars in launching Peopleimages.com. We on the other hand didn’t quite have that amount, we were just a few zeros off that figure, so we learned to become extremely resourceful and also skillful, it’s amazing what you learn when you are forced to be resourceful.
8. You will make mistakes and wrong decisions. Don’t think of your mistakes with too much regret or regard them as a waste of time. Your mistakes will likely to be more memorable than the times when everything was going smoothly. You will learn so much from your mistakes, they will help you to read situations better and become even more capable in the future.
9. Prepare to be criticized. You will likely not be rolling out of the showroom as a brand new Bentley but as a mid size family car, or something even smaller. It will take time to get better. Take note of the criticism but don’t ever let it get you down. Sometimes the criticism can be really useful, but often people criticize as backseat entrepreneurs, the people who never actually take the risk of trying themselves but at the same time give the impression that they are all knowing experts in building a new business. You will know at what stage you are at, how hard you struggled to get where you are now and where you want to be in the future. Just keep going and believing in yourself and don’t let the backseaters bother you.
10. When you are yet to become something, you will face a lot of rejections, from potential investors, from people you wish to join your team, even your friends or family may not support you and think you are just throwing money into a hole. Don’t ever let this put you off from advancing to your goals. Every successful company was just an idea once and they would have had to face rejections too. Believe in yourself, even if the majority of those you come across don’t. Remember those who helped you when you were essentially worthless to them. Keep and strengthen those bonds, it is very likely that these people are visionaries just like yourself.
This is what we have learned in our journey that has got us to the beginning and now we are ready to start. So many IT projects never actually make it to a live website, we have achieved that, but motivated entrepreneurs will never be satisfied with that. They want to have a star that will one day outshine other stars, they want for others to love their product as much or even more than they do. They want their business to be the first option that people turn to. We are at the start, we will not be big overnight, but our aim is to be big and we need to keep believing in this and keep going. Stubborn persistence got us to a live website and we will need to continue to be stubborn in order to achieve all our dreams. We have a long journey ahead.
Welcome to Revolucy, we hope you enjoyed reading our first blog.