What is the key to running a successful business? #StartupQuestions
@abrakadabra
•
Oct 26, 2024
Oct 26, 2024
1.6K
A lot many of us have great ideas for starting a company. If you are one such wanna-be startup guy or girl, chances of you reading extensively about how companies work, what startup folks are saying and what mistakes you shouldn't make are high. If you go about asking questions to startup founders about their advice before you start-up, they will tell you different answers about their key to running a successful startup.
The key to building a successful business can not be just one. Therefore, in our Venture Capture series of interviews called #-Link-Snipped-#, we asked the same question to many startup founders and we believe following are some of our top favourite answers.
"Being brave and experimenting, not being afraid to fail and realizing if something isn't working and changing it fast. Failing fast helps only if you change fast as well."
A. You need to be really passionate about your idea/product, and honestly believe in it. It is much easier to convince the world, when you are convinced yourself. Besides, with every hurdle, be it in terms of internal operations or competition in the space, it is this belief that would drive you to make sure you do it the best way.
B. The right team. It’s not just about having complimentary skill-sets; the team also needs to be on the same plane, intellectually and ideologically. And this has to be retained with every new member getting on-board as the venture grows."
Here are the key takeaways from their words of experience:
1. Being brave in experimenting with new ideas.
2. Being prepared to fail and make modifications frequently to be up to the mark.
3. Having focus on solving a small problems by coming up with an effective solution.
4. Being passionate about your ideas.
5. Building the right team from the start and keeping skilled members on the team.
The key to building a successful business can not be just one. Therefore, in our Venture Capture series of interviews called #-Link-Snipped-#, we asked the same question to many startup founders and we believe following are some of our top favourite answers.
"Being brave and experimenting, not being afraid to fail and realizing if something isn't working and changing it fast. Failing fast helps only if you change fast as well."
- Hardik Chaudhary, #-Link-Snipped-#
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"I would say a mix of these - good team, high quality work, persistence, right time right place, and customer focus. A couple of mistakes I can think of have been - not keeping it simple, not focussing enough. Staying focussed on a narrow problem and offering an excellent simple solutions usually helps you win."- Zishaan Hayath, <a href="https://www.crazyengineers.com/threads/interview-with-zishaan-hayath-co-founder-toppr-com.76860">Interview with Zishaan Hayath, Co-Founder - Toppr.com</a>
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"We believe that the 2 key things that are quintessential in building a start-up are:A. You need to be really passionate about your idea/product, and honestly believe in it. It is much easier to convince the world, when you are convinced yourself. Besides, with every hurdle, be it in terms of internal operations or competition in the space, it is this belief that would drive you to make sure you do it the best way.
B. The right team. It’s not just about having complimentary skill-sets; the team also needs to be on the same plane, intellectually and ideologically. And this has to be retained with every new member getting on-board as the venture grows."
- Somnath Meher, Ankit DP and Chandrashekhar Iyer, <a href="https://www.crazyengineers.com/threads/interview-with-somnath-meher-ankit-dp-and-chandrashekhar-iyer-co-founders-witworks.75185">Interview with Somnath Meher, Ankit DP and Chandrashekhar Iyer, Co-Founders - Witworks</a>
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That is some really sound advice by the founders of three successfully running startups. We are thankful to the startup owners for taking out their time in sharing their thoughts with the community.----------------------------------------------------------------------------------
Here are the key takeaways from their words of experience:
1. Being brave in experimenting with new ideas.
2. Being prepared to fail and make modifications frequently to be up to the mark.
3. Having focus on solving a small problems by coming up with an effective solution.
4. Being passionate about your ideas.
5. Building the right team from the start and keeping skilled members on the team.
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If you have any suggestions, questions or opinions about this, please feel free to write your responses in comments below.
