Making an impact would always be a challenge for fresh businesses.
Startups are currently at a difficult position, and they might need a lot of mentoring from experienced individuals that have gone through difficulties quite similar to what young entrepreneurs are currently facing.
Consider the major factors that they need to confront: volatile markets, changing buyer behaviors, competition with big enterprises. The fact that they lay outside their control makes them scarier, but it is already a fact of life.
“Ideas are easy. Implementation is hard,” says Alltop Co-Founder Guy Kawasaki. But innovation can only happen when you realize the trouble and instead find ways to transform a concept into an actual, working product that hasn’t been introduced to the market.
The way to bigger profits and exponential growth is a different thing altogether. It has to be tread with a combination of hard work, persistence, creativity and SMART planning.
“It’s almost always harder to raise capital than you thought it would be, and it always takes longer. So plan for that,” says venture capitalist and author Richard Harroch.
We can also agree that starting a business does not happen overnight. In reality, it would require a lot of investment in terms of time and money which of course are subject to risks of wastage. The prospect of failing when a great deal of sacrifice has already been made usually discourages a lot of startups early on. But NBA legend Michael Jordan tells us that failure provides space for self-improvement.
“I’ve missed more than 9,000 shots in my career. I’ve lost almost 300 games. 26 times I’ve been trusted to take the game winning shot and missed. I’ve failed over and over and over again in my life and that is why I succeed,” Jordan says.
Startups have huge potentials. As long as entrepreneurs have faith in their ideas, the sky’s the limit as to what they can do to make important contributions that can impact individuals and other businesses.
“Chase the vision, not the money; the money will end up following you,” says Zappos CEO Tony Hsieh.
Because at the end of the day, beyond the amount of money you make off your product, you get satisfied by the fact that you have created something of value to yourself and others.
“Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do,” says Apple CEO Steve Jobs.
More inspiring cliches from startup quote!
“Don’t worry about failure; you only have to be right once.” –Drew Houston, Dropbox Co-Founder and CEO
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