4 tips from Entrepreneurs who grew Startups into successful entities

The difference between a startup and a hugely successful business is often

  • “many years”,
  • “huge amounts of diligent work”,
  • “a squeeze of good fortune”,
  • “vision”,
  • “timing”.

Most of the successful and popular organizations, companies and entities were known as startups at one point in time.

The truth is – the Starbucks and Walmarts of the world were once mother and pop joints attempting to get by.

In case you’re a business person or a startup, you should know that more than 90 percent of all new business don’t succeed. The odds is not favorable to you, and it’s one intense lesson after another for you to learn.

Be that as it may, why take in each one of those harsh and tumble lessons yourself when others have pioneered the trail for you?

A great number of CEOs and founders who were once in your shoes are delighted to offer you tips on how to be the next big thing, however, are you prepared to take it? Hear the tips from popular entrepreneurs.

  1. CEO Elon Musk of Tesla, Solar City & Space X has this to say:

Knowing how to take feedback is indispensable for Musk.

“Take as much input from the greatest number of individuals as you can about whatever thought you have … seek basic criticism. Try to find out what could be the issues. You regularly need to coax it out in a nuanced approach to make sense of what’s wrong,” said Musk.

Individuals don’t buy the idea of complaining or pointing out mistakes, yet that is the thing that will make your business more grounded.

Note:

You don’t need to concur with them or fundamentally take after their recommendations. However, the more criticism you have, the more data you’ll need to settle on the right choices for your business.

  1. CEO Steve Jobs of Apple

According to Steve Jobs (February 24, 1955 – October 5, 2011), LOVE is the core driving factor when it comes to employing people into your firm. Who might have imagined Jobs had such a soft part?

He said, “When I employ someone, competence is the key thing. They must be truly keen.  The main problem for me is, are they going love Apple? If they can get to love Apple; everything else will deal with itself. They’ll need to do what’s best for Apple, not what’s best for them, not what’s best for Steve or any other individual.”

  1. Chief Steve Ells of Chipotle

Remember your business really needs to be your baby, regardless of how little or enormous it is. Similar to your real child, you need to employ a nanny that adores your beloved newborn just as much as you do. This nanny will ensure you get to enjoy a happy baby (whether it has 10fingers and 10toes ).

Ells once said that he “had a very strong vision regarding how Chipotle was going to taste and look.”

He said this when he was talking about the history of one of the most popular ‘fast food eateries,’ which he built and brought to the current level it is now.

Take home message from Ells: it pays to follow your passion. It’s better you also learn first-hand from various viewpoints of your industry, and search out a unique way to do what they are doing better.

  1. The role of passion and working with the right people with the experience

Branson further nailed this point when he said it’s all about passion for the projects. Branso founded Virgin at just 20 years old.

Branson has this to say regarding his Virgin business empire journey so far;

“When I started Virgin from a basement in West London, there was no great plan or strategy. I didn’t set out to build a business empire. For me, building a business is all about doing something to be proud of, bringing talented people together and creating something that’s going to make a real difference to other people’s lives.”

Passion may not give you that success story you long for. You need the passion for that project and the experience to make it work. This is where the right talent comes into play.


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