How often do businesses fail? Unfortunately, probably more times than we’d like to think, or more times than we realise. That’s why so many people might have an idea, but they don’t do anything with it. It just withers on the vine.
A common misconception which many people have, is that all you need to have to start a start up is a brilliant idea. The truth is that it’s much more than that. The idea is just one side of it. But what a good start up entrepreneur does is think about a problem that exists and how he or she can offer a solution.
That solution has to be something that isn’t already done. Otherwise the start up is just another competitor offering the same solution.
Once the entrepreneur finds his or her unique offering, then the real challenges start. Startups must raise money. They must market and find staff. They must manage customers and they might even have to figure out the manufacturing process.
Of course, any entrepreneur might have one or more of those skills. They might have, for example, already learned the ins and outs of the manufacturing process for a new product that will help to solve an unusual problem. But perhaps they’ve never figured out how to manage someone, much less a team of people.
Or maybe they have no clue what it takes to create and manage an IT team. Therein creates a stumbling block for success. Because startups aren’t just ideas, they’re execution and follow through, especially with the day to day stuff that’s less fun.
In addition to that combination of skills an entrepreneur would have to assemble, he (or she) must also open himself up to a variety of critiques and opinions. Hopefully these will come from experts or people who perhaps have not only tried startups themselves, but also been successful. This will help improve a start up if their advice is heeded.
There are indeed so many considerations to start a start up and be successful. It is up to you, as the entrepreneur, to tackle them all and create your own sure thing idea. Here’s a little help coming from our friends at Sales Force in the form of an eye catching graphic.