Lesson #1: Your first startup business should be something you are passionate about.
You have far greater chance of business success if your first startup busness is an idea / product / field or anything that you are passionate about. For a startup business, there are many challenges right at the outset. Your passion will help you overcome the seemingly unsurmountable barriers and get you moving forward through various hurdles.
Start in a business that is going to make you passionate. Remember, the same thing that makes you passionate will not make everybody else passionate. Your passion should be strong enough to make you want to do something different and to go against the tide of what everybody else is doing.
Passion is contagious. People will see it and feel it in you. Your passion will determine the way other people respond to you.
Lesson #2: If you are passionate about it then MAKE IT HAPPEN.
Life is very short – much shorter than you think. It gets shorter faster by the minute. Even with all the challenges that you may be currently facing, there will never be a better time than NOW. Get out there and do whatever it is you want to do. Get out of your comfort zone. Remember, that which is your comfor zone today may not remain a comfort zone for long.
Lesson #3: Be honest to yourself.
I can never overstate this enough – Be Honest To Yourself. You may put on a mask and pretend to the whole world. But do not fool your ownself. Pause and reflect because it is all about doing the right thing for you which is going to make you, not only more successful, but also help you and your loved ones take pride in you.
Lesson #4: Plan long-term, not short-term.
Most people start a business to make money, and to make money as much as possible, as fast as possible. When that does not happen, those businesses loose their drive and focus and soon fall apart. Just making money in the short term should not be your business aim.
For your startup business, you must plan to be in it for the long-term. Will your passion for this business help to motivate you to do what you have to do for the next 10 to 15 years? Things will surely change much sooner than that. But 10 – 15 years need to be the horizon you are looking at because that will influence the decisions you make now. It will be these decisions, taken now, which will form the building blocks for a successful business in the future. Having these building blocks in place, will sustain and grow your business, even with all the unforeseen changes that life may bring.
Lesson #5: Keep jumping, be proactive
There is a story that goes like this; A teacher said to a young boy, “You must jump at every opportunity”. The boy thought about this and innocently asked the teacher, “But Teacher, how will I know when to jump because I may not spot the opportunity?” The teacher replied, “That’s correct. It’s hard to recognise opportunity. So keep jumping always.”
There is an important lesson here– especially startups. It is about being proactive, going out there, taking the initiative. Opportunities often come, but they come disguised in various forms. Be proactive, think and do above and beyond what you need to think and do. This will help you to be at the right place at the right time- greatly improving your chances for business success.