Did you know that mentored startups grow 3.5x faster?
While a mentor can help you make connections and teach you business lessons, not every entrepreneur has that opportunity. However, even without a mentor, people with startup ideas can still learn a lot from successful business owners.
Below is some of the best startup business advice from professionals who found startup success.
Engage with Your Clients
Stephynie Malik is the founder of SMALIK Enterprises. She gives professional coaching, trains executives, and dispenses startup business advice. She encourages owners to “truly listen and empathize with your clients.”
When you first get your business off the ground, it can be easy to put all your focus into improving it. However, if you only work on polishing your original business model, you can lose sight of your clients.
Your clients will ultimately determine your success as a startup. It’s important to listen to their needs and feedback. This might mean you’ll have to tweak your original vision. But it’s better than refusing to engage with your customers only to watch your business fizzle out.
Use Empathy in Business
“Empathy is one of our greatest tools of business that is most underused,” Daniel Lubetzky, the founder of the energy bar company KIND, stated in 2015.
It’s impossible to create a successful startup without exercising empathy with both your clients and your employees.
This means you should work to have a relationship built on mutual respect with those you are collaborating with and working with. Establishing an approachable HR team or working with an HR team, like those at CA HR Services, is a wise way to bring a middleman between supervisors and employees.
Pivotal Startup Business Advice: Start Before You’re Ready
Srinivas Rao is a published author and the host of the Unmistakable Creative Podcast. They have stated that “most people think that there’s going to be a perfect time to start…but this is an illusion…I think that to do creative work of any kind you have to start before you’re ready and embrace the mindset of ‘let’s just see what happens.”
People often get hung up on their business plan outline. They worry too much about how to make it as perfect as possible. Sure, it’s important to research your industry before you jump in, but you’ll never be 100% prepared for starting a business. It’s better to take that leap of faith and resolve potential problems as they actually occur.
Have a Vested Interest in Your Business
Richard Branson is responsible for the creation of Virgin Atlantic Airlines and the Virgin Group. His advice is this: “think about your talents, what subjects and causes interest you the most, what problems you’d like to solve.”
He believes that business owners should pursue causes and ventures that truly interest them. If you don’t enjoy what you’re doing or don’t see yourself taking pride in it down the line, it’s likely you’ll burn out and give up before you make progress.
Learn from Your Mistakes
Even with the best startup business advice, there are some lessons that you will only learn through experience. It can be difficult to get back up after you fall down, but even the most successful business people fail. That shouldn’t stop you from chasing after an idea you love.
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