Successful startups require a number of valuable assets (talented individuals) to come together at the right time with a timely, innovative, or disruptive mission. A million small things must go right to launch a startup with a bright future.
Here are some of the essential ingredients for a stellar startup company:
- Passionate founders: Founders must have a clear vision and a mission that will sustain and motivate them through long hours, days and months with little initial reward. Their goal must be worth taking risks and making sacrifices to achieve.
- Determination: Founders and key early staff must be strongly committed to the company mission, persistent and willing to forge ahead through discouraging times to get the business off the ground.
- Flexibility with focus: Principals must be willing to make certain adjustments in their course, but not go off the rails.
- Patience: Some things can happen overnight, but many cannot. Maintain calm if minor elements get off schedule.
- Humility, integrity, and openness: Know-it-alls can’t build a strong team, and working in an echo chamber won’t sustain a company. Only intelligent, creative and energetic individuals that are willing to listen, observe, respect, and learn from others can create a living, breathing and growing business startup.
- Strong mentor relationships: Having knowledgable, credible, well-respected experts on the board of directors, and as advisors/supporters, is essential as a springboard to startup success.
- Big picture principals and subject matter experts: If you begin as both, the articulator of the vision and the possessor of detailed knowledge and skills, you’ll need to concentrate on one or the other role before long. If you are the face of the brand (or the soul of the brand), you’ll need to spend more and more time on that aspect as you become a well-known company. You won’t have time to also build the killer app or design the product in detail. Know which hat–CEO or Chief Engineer–you are most comfortable wearing and be ready to cede control of one or the other role when your company starts to take off.
When you need flexible startup funding to bring your idea to life, go to the experts. Contact GP Solutions today.