You have set up your new business and are struggling hard to make sales. Luckily, there are some first customers who have praised you and who really loved your product. But gradually, it slows down. No one is praising about your startup and customers are just not there. That’s where most of the startups QUIT.
Thousands of startups sprout in a month all over the world but only few of them manage to get successful. Others are just dumped like trash. And the biggest reason behind the failure of many startups is the main visionary behind the idea.
Let’s say, you started a new business. You got an idea and were very passionate about it and worked really hard to set it up. Of course, you might be new to the field but you would have done thorough research and worked hard to learn the basics of running a business. All of this lead to initial success for your startup.
But when it slows down, which it will at one time, you started losing hope. You started thinking upon what went wrong and spent most of your time in figuring out what went wrong while your startup starts suffering. People around you start talking and you end up thinking that maybe it was all a bad idea. IT WASN’T.
What Went wrong?
The thing that went wrong is your efforts and expectations. When you started off, you were very passionate about what you were doing and as a beginner, you didn’t have high expectations. Whatever success you got, you felt content and happy about it. But then, your expectations started getting higher while your efforts may or may not be increased.
In case, your efforts increase at the rate your expectations does, it won’t be a big problem. But when your efforts are lesser than your expectations, you start feeling dejected. You start feeling like you’re failing. This ultimately takes a toll on your business’ productivity.
When the visionary behind the idea feels uninspired and dejected, how can the rest of the team stay motivated to work? This works like a chain reaction and everyone, who has so far been working day and night on the startup, starts thinking that maybe it was just not mean to work. Doesn’t that make the failure of the startup obvious?
What to do to avoid all this?
- Be consistent with your efforts: Make sure you’re consistent with your efforts without worrying about whether it is producing quick results or not. Having a strong base is necessary for the success of a startup and those who long for quick success end up failing in the end. Be continuous. Keep working.
- Get out of the past: As a startup owner, you need to understand that there would be many mistakes and unsuccessful moments you would have to face. If you start regretting about the mistakes you made and whining over the failures you see, you would never be able to work on the present and build a better future for your startup.
- Stay motivated: In order to succeed, you would need to believe in yourself and your idea. That would lead to self-motivation which is a very necessary trait of an entrepreneur or a startup owner. Don’t feel sad about the things you couldn’t achieve but wanted to. Instead, feel proud of yourself for achieving what you could and motivate your own self to strive for a better tomorrow.
- Motivate your team: This is as important as self-motivation. When it comes to business, you can’t be the only one doing everything. You need a good team and first and most important trait of a good team is that it should be motivated to strive hard for the success of the startup. It is your job to keep them motivated.
Rome wasn’t built in a day. And if you think there was no mistake made during the building process, you are just being naïve and unrealistic. People make mistakes. Things go wrong. Sometimes it is too slow. But if you stay consistent and put in continuous efforts, you’re bound to succeed.