Why is it important to be Positive as a Startup?Reading Time: 6 minutes
Whenever I ask any startup owners that Why do you want to go ahead with this idea?, the most common answer I got is that “Startups are trending, my idea is unique and I think I will make a difference or be rich doing this.”
The discussion is full of energy, positivity, and hopes. At the same time, it is found that with the time passes, the quantum of this positivity goes down the moment they get hit by the reality of market or don’t find angel investors to help them grow.
Sometimes they don’t have a valid reason for their idea to be successful or not have done enough market review. And later they give up when they face challenges. As per research, 90% of startups fail. It is a shocking number, but it is a reality.
Though it is a demotivating number still, there are people who have high aims and eyes filled with dreams. It helps them keep moving ahead. So, dreamers, I thought to write this story as I have started a business, successfully run it and closed it. And now starting on another idea. I understand the value of staying positive and assertive.
This small read would help you…
If you are facing issues or challenges with your startup idea then here are the ways you can deal with them positively,
1. Start with “Why”
When you have an idea in your mind to start a business, you must evaluate “why” you want to go ahead with this idea and not others?
If you are a fan of Simon Sinek, look at the video of “Start with why.”
It will help you understand why is it so important to create and manage a compelling reason to stick around for a longer period and be successful. You need to find the reason for it.
Each reason has an origin. It comes from-
Comfort – Because you have knowledge, experience, and expertise in the particular industry. So you want to stick to that domain.
Competitors – There are some people/brands whom you consider as your competitors. And they have launched new ideas and hence you also want to try.
Profit/Revenue earned by others – You are amazed by the profit or revenue some companies make and get aspiration to be like that.
Going/Trending in the market – Because people are talking about this startup idea and it is gaining popularity in the market. That gives you a proof of concept and you get motivated to jump in.
No competitors – Because you feel that there is no competition for your idea, it is unique and you are sure about your gut feelings.
Easy to enter – Sometimes we feel that entering into a particular domain has easy entry, and low barriers to try. So they become a sweet spot to target.
Guidance of others – Because somebody told you that you should get into this startup idea.
Less investment – Because little to no investment required to get started with the startup idea. It is common for people who have a low-risk appetite.
Just to remain busy – Because you have nothing to do in hand and just want to stay involved in some work (mostly the case with the homemakers/women).
Invest excess money – Because you have surplus money, your current business is going well and you are looking to invest to get some passive income out of the same.
What is yours?Not all reasons are positive. But, that does not mean you have to quit your startup idea. You have to look out and evaluate each aspect of the idea positively.
2. Focus only on investing
Most startup owners expect that they will start earning money right after they launch the startup (looking for instant success). But, that’s not true in the majority of the cases. It takes your blood and sweat to test your patience, dedication, and hard work.
If you are unable to stick to your startup for at least 18 to 30 months, your startup may fail. It has been said that if you fail, fail faster. But, judging success too early also kills an opportunity to flourish.
This all depends on the market and product you are entering with.
So, if you are going with your startup idea then remember it will be the difficult phase of your life as far as the profession is concerned.
In this phase, you are not going to get anything; instead, you are going to invest. So, get into your startup idea with the mindset to just invest and not expect any returns for the initial 18-20 months.
3. Stay away from “What people think”
It may be possible when you talk about your idea; people contradict your opinion/your way of doing/your intention.
Initially, you might not have an office, and you’re working on your startup idea from home. I have heard various cases where my startup clients started their journey from home.
So, they often listen to conversations from neighbors, relatives, family or friends, which brings their motivation level down.
Some people would also tell that you are wasting your years and not doing well in your career. Because of that, you may doubt your own idea.
But, if you are clear about the success of the idea and can visualize a great future, go ahead. These conversations will alter once you are successful. Just focus on what your startup needs next.
4. Find positive results from market research
One of the biggest threats to your start-up success is not doing enough market research or marketing research. Many people directly jump into the market by following their heart.
It is right for some exceptional cases when they are inventing something new. But for the rest, checking out what is in the market or what is the nearest competition is required.
You may get two types of results after doing research,
Many players doing that
While doing market research, you might encounter that there are too many players in a particular business and industry. You might get worried about how you would work, grow, and even survive in such a competition.
Another perspective towards this result is that you start thinking that if too many are in this business, then it must be a good or safe business. “Choice is yours” but in this case, you must have something unique to offer.
A few players aiming that
Another result of your market research is that there are very few players in your specific market. Now, there are chances that you doubt on the success of the idea – “Whether you will be successful in the future if you go ahead with this idea?”
Here, you can think that in this market, you have an open ground to play and see how successful you can be. You can have an early adopter advantage. In this case, you will have to push on marketing efforts and capture the market before someone else does.
This is the most interesting situation and has the highest amount of risk. If you are focused and sure about your vision then go ahead. The only thing is you need to set the trend, make people understand WHY that, and educate them to use it.
- Orkut taught the world how to connect with Alumni and Friends.
- Amazon taught how to sell and scale.
- Uber taught Cabs is a serious business.
- OYO in India made hotels richer.
If you have something amazing, then you can run behind your vision.
Positivity is the Key to Your Startup Success
Once you start taking steps then many hurdles may come and you may think not to go further and not to tell or disclose and to wind it up. But, if Jeff Bezos (founder of Amazon) would have thought like this when hardly people used to buy online, we won’t have this ease of shopping.
So, always remember – “An arrow can only be shot by pulling it backward. When life is dragging your back with difficulties, it means it’s going to launch you into something great. So, just focus and keep aiming,” posted by Stephanie Simpson.
Do you face any such negative thoughts for your startup idea? Talk to us, and we will help you to figure out what can be your next steps.