George Rodriguez wrote an interesting article “How to Launch a Successful Startup” where he explored the factors that make a new startup business successful.
Starting a business has a lot of unknowns, especially during these hard economic times. As my mother would say, you never know if the moon and stars will all align in your favor.
When we hear stories of huge success stories — Web 2.0 sites such as Digg and Twitter, or even the free dating site PlentyofFish.com — we hope that our new businesses will enjoy the same level of success. Or at the very least earn enough money to support our needs. And the question is – how can we be like them?
According to the writer, here are the factors that can help your startup succeed:
- Have a long-term vision
- Hire the best people – and manage them well
- Keep your focus
- Innovate; don’t duplicate
- Keep realistic expectations
- Have a clear understanding of the market and your competition
- Run your business lean
- Get the right partners
- Develop a culture of success in your organization
- Conduct regular business and market review
- Learn, and keep on learning
- Prepare for changes
Read the article “How to Launch a Successful Startup”