Start up the Success Strategy for your Startup

Posted on January 5th, 2009

The biggest problem that budding entrepreneurs have is not the lack of ideas, resources or opportunities – what’s lacking is the push to kick start their ventures for fear of failure. It may be clichéd, but it works, so I’m going to repeat it again – it’s better to have tried and failed than to never have tried at all. Failure is not the end of the road; in fact, it’s the beginning of a new road where you have the added advantage of the experience gained from your failed venture. So, to quote another oft-used cliché, treat failure as a stepping stone to success.

Those who dare to try are the ones who somehow find the energy, motivation and determination to keep going, against all odds. And for those emerging business magnates, here are a few pointers to help add value to the way you do business:

•    Time and tide wait for no man: Only the parents of a premature baby know the true value of a month; only the man who has missed his flight or train knows the true value of a minute; time is relative, it means different things to different people. But once it’s gone, it can never come back. So use your time efficiently and productively. What you can do today, never put off for tomorrow, for you don’t know what the morrow may bring. 
•    A penny saved is a penny earned: You’re not in the business just to make money; you’re in it to also learn how best to manage your money. The best way to do this is to reduce your day to day and overhead costs as much as you can. Avoid wasting electricity, water and other utilities to both conserve them and to prevent wasting good money that could be put to better use. Remember, every small effort counts towards your greater success. So if you’re careful about the small things in life, you’re likely to be the same way about the things that make a difference too. 
•    The customer is king: Any business is dependant on its customers and their goodwill for its survival and growth. As a startup, you must focus on building up a customer base by offering products and services that are of good quality. In order to make people come to you from the competition, you have to offer them something extra at first, maybe as a promotional offer. And when they do come, you need to make them stay and become loyal customers with the quality of the goods you offer and the service you provide. In this day and age, a lot of emphasis is placed on customer service – one wrong word or expression could get you blasted all over the blogosphere and send your fledgling business plummeting downwards. So treat your customers well, and watch them come back for more.
•    Loyalty pays: I’m talking of loyalty you need to earn from your staff members and the people who work for you. Treat them well, with the respect they deserve, and you’ll see them stick with you through thick and thin. And then there’s the question of remuneration – if you pay peanuts, don’t be surprised to find a group of monkeys working for you. Pay well, according to industry standards, and you’ll be blessed with a workforce that’s both happy and productive.

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