Mistakes are an inevitable part of starting any business. Often, your first steps are simply a case of failing over and over again, as fast as you can, until you get it right - gathering as much valuable data as possible on what’s working, what isn’t, and how you can improve your decision-making for next time. Without the strength to persevere and adapt, many a company would have crumbled before it had a chance to shine. Entrepreneurs must be the perfect optimist and think positively about any challenge they encounter. Every resistance they face is an opportunity, not a negative thing. Every 'no' is getting them closer to a 'yes'. There are 5 things I learned along the way from growing our company from just a small idea to large organization that is changing the data industry.
Have a Vision
Turning business into something truly special means having absolute clarity of purpose. Entrepreneurs need to know exactly what they trying to achieve, and why. They need to be persistent. If you’ve decided that this is how you’re going to change the world, then go for it with full power and you will succeed.
Set Targets
When you’re starting out, it can feel like you’re fighting so many fires at once that you just don’t have time to sit down and figure out your roadmap for the future - but if you don’t create precise targets, you’ll flounder. Especially when you’re a young founder, you just don’t always think about the right things. Remember- without setting goals, you’re not going to get anywhere.
Think as a Team
Time to let go of that ego, because the simple fact is: no great company ever got there on the strengths of just one person. For that, you’ll have to build an amazing team, figuring out what superpowers you bring to the table, what you lack, and how others can bring their own strengths into the mix. What’s more, once you’ve assembled the perfect team, it’s unbelievably important to keep making it clear that the company is a venture you all own in some way. That way, it’s not just a job - it’s a stared vision, or purpose. Even better is if you can extend that spirit of camaraderie to your customers, winning their loyalties along the way.
Take Responsibility
The upshot to expecting your team to navigate the hurdles with you is that you also have to recognize that you’re responsible for making the company a success, to protect them and their jobs. You may have started out because you thought you’d be great at XYZ, but now you’re the boss - and you have a bunch of people that depend on you. Understanding the responsibility is really important when you are growing, because suddenly it’s not just the entrepreneurs, its hundreds families who could be out of a job.
Learn to Deal with Doubt
Finally, for all that optimism and perseverance, there will be moments when you seriously doubt yourself and your business. Perhaps it’s coming from inside, or perhaps other people tell you it will never work. Getting through these moments is tough, but essential. Often, it’s just a case of taking a step back to reset. Looking after yourself, getting some sleep, going to the gym, and surrounding yourself with people who get you fired up.
The author is the Co-Founder & Chief Evangelist at Sisense, a leading business intelligence software company based in Tel Aviv and New York City
Published by Globes [online], Israel business news - www.globes-online.com - on June 29, 2017
© Copyright of Globes Publisher Itonut (1983) Ltd. 2017