By: Thomas Oppong
Why do some startups succeed and others don’t? Here’s a hint: It doesn’t have to do with if an idea is good or bad. Indeed, the successful entrepreneurs are able to run with amazing concepts and pivot otherw when needing. There are a few more tried and true principles that can contribute to the success of your new company.
Among other things, these are four things remarkable startups have in common.
1. Founders are insanely passionate about the idea. Don’t start a business without passion. You won’t be able to see it through if you are not really into your idea. Founders of most successful startups started searching for solutions to a problem they cared about and made it their focus.
“You have to be burning with an idea, or a problem, or a wrong that you want to right. If you’re not passionate enough from the start, you’ll never stick it out,” Steve Jobs has said.
Founders with great passion tend to inspire others to greater success, and they look out for those traits in new hires. According to best-selling authors and workplace strategists Kevin and Jackie Freiberg, passion enables innovation and creativity and makes employees want to stay in their jobs and contribute, even when they’re not feeling their best.
2. They don’t try to do too much at once. Laser focus is immensely crucial for the success of every new business. What is the one thing your startup is known for? Your startup should be focusing on the one thing that makes you stand out. All the successful and well-known startups you know today are doing the one thing that makes them stand out.
Related: Want to Succeed at a Startup? Focus on These 5 Qualities
For instance, Snapchat knows a picture is worth a million words and have allowed users to send photos and videos that disappear a few moments. Dropbox wants to be the go-to solution for uploading and sharing files in the world.. Most great startups start out to provide simple services or products, but as they grow customers and users tend to demand more, the company needs to improve and make solutions even better.
“The most important things for startups to do is to focus. Because there’s so many things you could be doing. One of them is the most important. You should be doing that. And not any of the others.” says founding partner of Y Combinator Paul Graham.
3. They value their customers and take great care of them. Does your startup know how to design and deliver great customer service? Successful startups are constantly seeking to satisfy their customers. The importance of reinforcing awesome customer service should be made clear among your employees. Design your products with the customer in mind. Remarkable startups listen and respond to their customers’ evolving needs and expectations.