Startup business tips from advisors
Learn how to successfully start your own innovative business with the startup business tips from professional business advisors and coaches from all over the world. Instant contact with the best business coaches you need at CallTheONE via live video calling.
Are you in need of assistance for starting up your business? Stop Googling for hours and get your information from the source! Experienced business entrepreneurs are willing to share their knowledge with you to give you a boost. Most people with a Startup have a great idea but are not sure how to start with the idea. Asking for advice is the biggest asset that all great successful Serial Entrepreneurs have in common. Now learn that skill by calling a Startup Business Coach for help.
At TheONE you can instantly video call the best available Start-Up Business Coach and ask as many questions as you want. By knowing more you reduce the chance of failure and you will feel more comfortable of really taking the step to start.
What is the benefit of a Startup Business Coach?
- Learn the common pitfalls that many startups made before you and avoid them
- Get guidance to improve your business plan
- Learn how to master questions from banks or investors and how to find investors
- Check if your plans and budgets are too optimistic and ambitious or not
- Learn how to write a great elevator pitch
- Learn how to create the perfect pitch deck for your startup
Tips for startups from experienced entrepreneurs
What most startups have in common is that the founder has a great idea, but it’s not proven yet to work. Online Startup Business coaches at CallTheONE know this because most of them had a startup at least once or more times. In this phase, most startup founders have a hard time convincing people that their company will be a success. The art of a successful startup is to grow from the Discovery Phase to the Comfort Phase.
The Discovery Phase of a Startup
In this phase, a startup has to figure out many uncertain things. Will the customer like the product, is the value for money good, will it take less or a lot more time before the revenue grows and much much more. Startup business coaches at CallTheONE can help you to categorize and prioritize these uncertain factors. This is important because, without the overview and prioritization of the uncertainties, you can’t bring them to the next phase of Comfort. Common uncertain factors are for example:
- Time to market
- Cost management and revenue growth
- Customer interest and satisfaction
- Quality of the service or product
- Impact of the competition on the business
- Economical growth or disasters
On first sight, it can feel that a startup first need to go to the market before these issues can be proven. Online Startup Business Coaches can help you without a huge investment to not prove that it works, but make it ‘most likely’ to work.
The Comfort Phase of a Startup
At the comfort phase of a startup, the maximum amount of uncertainties are tested or benchmarked. That does not prove that it will work, but people can trust with limited doubt that it should work the way as planned. Market research and benchmarking by competitors are great tools to give people a sense of comfort about your start-up plans.
With the help of startup business coaches or professionals, you can get the right data to prove that what was once only a fantasy, can become a reality. But, the proof is in the pudding thus most people will only believe it when they see it.
Don’t talk, perform!
If for example you believe that everybody is waiting for your product, but you need money to produce it. Why not sell it first to those millions of customers and then produce? Or when you plan to build the new Facebook but to complete it, you need money. Why not ask those 3 billion Facebook customers to sign up already and you notify them when it’s ready?
Over 70% of the startups don’t make it for the first 12 months
Avoid mistakes that others made before you by asking advice from professionals. At CallTheONE you pay per minute as long as you want the call to last. Take advantage of the latest live video calling technology and invest a little money in the best tips from startup professionals.
Why don't a lot of startups make it through their first year?
As a startup, you have to be positive. If you believe in advance that you will fail, you will not start your own business. That optimism has two sides. On the one hand, it ensures that you have the guts and courage to step into an uncertain adventure. On the other hand, your optimism allows you to see the future too brightly.
The 10 biggest pitfalls of startups:
- Too little research into facts and market trends
- No backup scenarios in case your plan fails
- Too stubborn about your truth is the only truth
- Wait until you've built in enough security
- Perfectionism: waiting for everything to be perfect * Working with wrong partners or friends without real added value
- Being stressed if you don't succeed right away
- Do not write a business plan
- Don't dare take risks
- Wanting to get rich quickly at the expense of something or someone
The 7 best tips for starting entrepreneurs
1. Make lots of mistakes and learn fast
Nobody wants to make mistakes, but it's the best and fastest way to grow. Provided you are able to learn quickly! The difference between extremely successful startups and the rest is that these entrepreneurs were not afraid to make a lot of mistakes. They realized that this is part of a necessary growth process.
"If you do what the rest does, you get the same outcome at the most".
Nobody wants to do it any less than the competition. You'll have to surpass the competition. That's why you'll have to do things differently than the rest of them do. After all, they are already established and therefore have a competitive advantage.
2. Expect a lot of criticism from those around you.
If you do something different from the rest, you will be in new waters. Future results are unproven and difficult - or not - to measure in advance. This causes a lot of criticism of your plans from those around you. They will advise you to follow the proven path. After all, that has proven itself in the past. Take this criticism to you, but don't always listen to it.
If Henry Ford, Bill Gates, Mark Zuckerberg, and all those other famous entrepreneurs had listened to the criticism from their environment, the world would have looked very different. We would probably still be driving a covered wagon, writing letters on a typewriter and a "like" would be a nice round sticker with a drawing of a little heart.
3. Do it differently, but stay realistic
Doing something different from others is no guarantee of success. Do it differently from the rest, but stay realistic. Your success is not proven until the figures show it.
4. Keep persevering, but never stubbornly
There is a big difference between being persistent or stubborn. You become stubborn when you continue against better judgment in the way that has turned out not to work. You are persistent when you continue with your idea, but flexible in your approach. An old saying is that there are several ways to Rome. Successful startups understand this and have not the way, but the end goal in mind.
5. An idea needs time to ripen
Like fruit, an idea needs time to ripen. This does not mean that you have to wait years or decades. It means that you have to take time to evaluate and improve your idea. Every day. The world, purchasing behavior and therefore circumstances change every day.
It means that what was a good idea today may become obsolete tomorrow. By asking for input and feedback you can enrich your idea. Not by taking the feedback for granted. Feedback is useful if it enables you to take a close look at all aspects of your idea and make improvements. That takes time but increases the chance of success.
6. Be prepared to change course regardless of public opinion.
At the time of Columbus, everyone in Europe sailed to the East. If you sailed west, you would fall from the world. Columbus was experienced in sailing to the East but turned the rudder. He wanted to make a difference and eventually discovered America.
No one believed at the time that Columbus would return alive. He would sail straight into hell. Once he had the money together to start his voyage of discovery, the investors were almost certain that their investment was senseless. Be prepared to find those few people who do believe in your idea.
7. In the beginning, it's only about the entrepreneur
If a bank or investor is investing, they are investing in you in the first place. In addition, they invest in you and in the third-place they invest in you. Only then come your business plan, profitability and all other aspects of your business.
If you don't need or can't get an investment, you are the only investor in yourself and your company. Follow the same rules as a bank or an investor would. It is about you.
Investors look to you as an entrepreneur for aspects such as:
- Do you know and understand the market you are entering?
- Are you flexible and open-minded?
- Are you physically and mentally healthy?
- Are you decisive and a persistent person?
- Do you keep an overview and can you distinguish main issues from side issues?
- Are you a realistic optimist?
- Are you good with people?
Ask yourself these questions every day and guard the positive answers.
You can also read: Can you start a business in times of crisis?
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