Startup Survival Tips

18 Proven Tips For Founders To Make It Through Their First Year

The success of a startup depends on:

How passionate you are about the idea? How much time you are going to invest in it? How focused you are on it? And most importantly, How much money you are going to invest in this idea?

What is a Startup?

A business is not a startup. A startup is something that is born with the purpose to be big and grow fast. It’s a company that works to solve the problem of customers and itself in the long term.

Startup Survival Tips:

1. Write down your idea:

It’s very important to write down your idea on paper first before starting it! Writing down allows you to clarify your ideas more clearly so that others can easily understand it as well. If not writing down then at least make sure that every member of your startup team knows about it. Without knowing your idea, it’s not possible to work on it!

2. Make sure that your idea is scalable:

You must have heard this term a lot of times in the startup community. What does it mean? It means that you should be able to grow at a fast pace and scale up quickly.

3. Build the Minimum Viable Product:

When you think about a product then there is a tendency for everyone to start building the best product in the world from day one!

4. Don’t go solo:

If your startup requires money then don’t think about going solo! You must have to find a co-founder who can help you in every possible way!

5. The biggest challenge for everyone:

In today’s world, it’s really hard to get customers for any business because there is so much competition out there!

6. Learn from someone else:

Don’t forget to learn from other startups, products that are already successful in the market, books or anything else that is related to business. There are few things that can help you grow if you implement them properly!

7. Save money:

As already mentioned that startups are all about investing money and growing it! So you have to make sure that you save money as much as possible in the early stages of your startup. This will help you in case if you run out of cash while starting up!

8. Learn how to sell:

If you don’t know how to sell then forget about startups because sales are the most important part of any business! You must be able to sell your product/service if not then no one will come to know about it!

9. Work on your idea day and night:

Building a successful startup requires hard work from everyone involved. No one can stop working for even one day because if they stop working the whole project will get delayed and it can ruin everything.

10. Don’t start up because of money:

If you are thinking of starting a startup just to make money then I would advise you to forget about it. Any profitable business can give you money but not all profitable businesses are successful startups!

11. Take risks:

Before starting anything, always make sure that you have a backup plan in mind. Having a backup plan will help you take risks easily without worrying about losing everything.

12. Create a team:

The whole success of your startup depends on the way you work with others in your team! So if you want to build a successful startup then make sure that everyone works together towards a common goal and has different ideas which can help them learn from each other as well! The more experienced people are in your team, the better it will be for you!

13. Get a mentor:

Everyone needs someone who is experienced in doing what you are doing right now! So make sure that you have someone who can guide you from time to time and help you in every possible way. A mentor can be your boss, partner, investor or anyone else who is experienced in doing the same business as that of yours!

14. Create multiple revenue streams:

Many startups fail because they focus only on one product or service. They forget that the market for their idea may not be big enough to sustain them!

15. Be passionate about what you are doing:

Always think about this question before starting up anything, “Why do I want to do this?” If your answer is, “Because I can make money from it” then don’t start up but if your answer is, “Because I am passionate about my idea and want it to change the world!” then go ahead and start it!

16. Don’t be afraid of failure:

Failure is the best teacher in this world. It teaches you how to become successful in the next business. Whatever happened in your past is already gone now! So no point in worrying about it! Just keep working hard and start up again!

17. Learn from failure:

When you fail, don’t waste time blaming others. Instead, learn from it and try to find out what went wrong and what you can do differently next time. This is something that every successful entrepreneur has learned from their mistakes so learn from them instead!

18. Do not compare yourself with others:

You will be surprised to know that most entrepreneurs compare themselves with others who are doing something similar to them or even better than them! They think of starting up a business when they see others doing it successfully.

Founder of Cudy Technologies (www.cudy.co), a full-stack EdTech startup helping teachers and students teach and learn better. I am also a mentor and investor.