With the increasing rate of people opting for creating startup rather than a corporate job, the prime goal and the dream is to be the next unicorn. This is not going to be an easy task as you know Rome wasn’t built in a day but with proper plan of action you might be the next billion dollar startup. Let’s just see some elements that’ll help you to reach out to your dream.
It Starts With A Dream And An Idea:
Walt Disney once said, “If you can dream it, you can do it” and even the biggest firms you know about once started with a dream. With a dream comes an idea and once you are sure about it just go for it but is your idea innovative enough and helping people or are you just trying to imitate someone, then my friend you are just working on something that already exists. Try finding solution to a bigger problem and maybe that’s going to be the next billion dollar startup.
Stay Calm & Think:
Dreaming is easy. We all do it and dreams are what inspire us but many young enthusiastic entrepreneurs are in the misconception that an idea (that initially seems like it’d be a great success)is all that one needs, and they forget to focus on other valuable factors such as hard work and planning. Being confident is good but over confidence isn’t and hence you have to keep yourself calm and think clearly about all the pros, and cons of setting up a business on your own. Try finding answers for, What is to be done? Why is it to be done? How it is to be done?
Figure Out The “Why” Before “How”:
Before you focus on how you are going to achieve your dream get the clear idea about “why” you are doing it. Is it just for the money? According to Howard Panes, “Any goal worth achieving has to have a strong enough reason why. And money can’t be the driving force.” You have to have stronger and deeper reasons that will act as a fuel and would light you up and drive you towards your goal.
Divide Milestone Into Goals:
Its good practice to set milestones to achieve a greater goal, but you might end up being hard on yourself and this would lead to a lot of stress and hence it is advisable to divide it into a series of achievable smaller goals and with each goal you are closer to your dream. Dale Carnegie has rightly said, “The achievement of one goal should be the starting point of another.”
Work Harder & Apply Smarter:
At times, you’ll have to stay up all night and work for hours but remember that the point is not to just work and work, you have to think smartly. Working hard means spending hours on something and working on it diligently without any shortcuts but smart work would be prioritizing and planning it so that the work takes less time for completion with the same results. Keep in mind that even though the result is what matters in the end, it doesn’t mean that you can take shortcuts.
Prepare Yourself For Obstacles:
Creating a start up and reaching to the peak of success is the primary goal, but one has to face a lot of challenges and obstacles in the beginning part of their journey. The future of your startup depends on your attitude and the way of tackling the issues. The most common obstacle, one might face is lack of capital, hiring suitable employees, time management issue, etc. It’s better to be prepared and have an action plan ready if certain kind of scenario occurs rather than decide something in haste at the time of panic.
Less Fund Or, More Fund — Never Give Up:
When it comes to owning and creating your own company, fund is an important factor as everything needs money to put your ideas into action. Maybe you don’t have enough funds at the moment, but don’t let it deteriorate your dream. At times as now, when a government is itself supporting startups you’ll get help but it is not just the “amount” that matters but how it is utilized. Make proper plans and divide your funds sensibly, like how much on marketing how much on inventory and how much on staffing etc. Once this is sorted out, you’ll find it easy to manage the cash flow, and this will help you to understand where you have to put in more efforts.
Connect With Entrepreneur Or Startup Community:
Even though you are well aware of all the threats, and benefits of starting up your own company theoretically, the best way to go is to learn and understand from other entrepreneurs and other startups. Begin networking and improve your connections because in the end your connections are the ones that’ll help you to move further. Talk with like minded people and you’ll come up with more ideas, you’ll get motivated and inspired and their mistakes will help you to learn more.
Work On Skills:
Every human is born with different traits and it is not necessary that one has every skill. In a business environment, one needs to have both hard and soft skills as they help to understand the organizational behavior and the clients which would further lead to the success of your startup. You have to work and improve various skills like social skill, people skill, communication skill, personality traits, etc as well as in cognitive skills as well.
Get Yourself A Team:
It is true that an entrepreneur is the one to have a dream, but it is definitely the team that helps him to realize his dream Choose your team wisely because it is them that are going to help you in your journey by understanding your vision and doing their best to complete it. Don’t be mean to them and don’t consider them as just employees, treat them right, and they’ll work diligently and strive for your goals.
It’s good to have expectations and dream’s but make sure that it is achievable and is not beyond limits. Think well and act accordingly before you take any decision. It’s better to be realistic optimistic rather than choosing either of it. Being realistic would help you to be organized and you’ll realize very quickly what action is needed to be taken and are ready to act upon it.
Watch Your Expenses Closely:
When it comes to expense, every penny counts. It is not easy to keep track of each and everything, but it is a good practice since it will help you to analyze where you need to spend more and where you shouldn’t. When you just spend money carelessly, you’ll be easily taken for granted, and it would ultimately distant you from your billion dollar company dream.
The balance between work and life should be taken care of. It is understandable that you have a dream to fulfill and hence you are ready to work for it but, it is very essential that you take breaks and try to maintain your hobbies at the same time as it would help you to relief stress, feel refreshed and also help you to work with new vigor otherwise you might burnout and this might affect your company in a very bad way.
Give Up, But On Negative Thoughts:
Avoid all kind of negativity and stay optimistic. In the early phase of setting up a company you might come across a lot of suggestions, criticizes, advices and it is not at all necessary that you have to please everyone and you have to act as everyone say. Do What and don’t let any kind of negativity affect you. You might find yourself in stressful situation but try to be calm and help yourself by meditating and practicing yoga etc.
Believe In Yourself — (Else It Will Remain a Dream):
The most important factor that will help you overcome any big problem is having faith in oneself. When you can’t believe in yourself no one is going to. Making mistakes is normal but make sure that each time you make mistake you learn from it and do not repeat it again. Have full faith in your abilities and trust your instincts, If you lack somewhere instead of telling yourself that you are not good at it trying telling yourself that you’ll get better. It all depends on your mindset how you see a situation and how well you act upon it.
Rising to the top isn’t an easy task, and it doesn’t happen overnight. It takes a lot of dedications and hard work to create a billion dollar startup but it isn’t impossible. Keep on updating yourself and keep up with the changing times and keep learning to reach your ultimate unicorn goal.