Startups and what it takes...my five cents....

I always love disecting people with start ups and their strategies. Its a beautiful thing....From my view, the best experience you can ever get with a business is to start up your own. To see it grow or fail (95% of all startups fail) is an experience everone should have, it makes you stronger, it makes you perfect your future ideas and dreams.

In my view, the most successful entrepreneurs are like heat-seeking missiles. People who hold on to ideas too tightly miss out on a lot of opportunities, at launch and down the road. In addition, running a business involves constant course correction, even being open to switching the color on a button can impact how many people click on it, and many people do not realize this. If you want a winning plan, you can't be stubborn. Sometimes is is not easy to let go of something that you pour lot of time into. It is  crucial to be adjustable and you will have to make tough decissions for the good of the company and of course ROI.

The two important steps in a start up in my view? 1.research and 2. wise growth. First thing in the plan? TALK TO YOUR POTENTIAL AND EXISTING CUSTOMERS! Good advice for companies at any stage, of any size. Survey your users....ask them who they are, why they use your service, what they want from you. The answers you get are crucial to your success! These answers will spark new and better ideas you  may have missed. Focus on building and enhancing your product from this input. 

Tough economic times, such as these always make more people eager to take their life's destiny in their own hands and start ups are on the rise. I see this happening around me every day, I meet people leaving Microsoft/Google/Amazon in our area on the hunt for bigger, better dreams. I have been there, done that...more than ONCE! This is the positive side...tough times make people do amazing things. The negative side of this is, people often make mistakes in the process, mistakes which may be detrimental to their company's  survival. Spend extra amount of time on careful budgeting, continuous product development and release of new features. It will pay off! Maintain a good company culture and, don't forget, always be open to REINVENTION!!!! Your company may one day grow up or, you should be ready to pivot again, if you need to!

My 5 cents...that's all! :)