Business / Leadership Corner / Startup Challenge

The Start Up Challenge

 

The Startup Challenge…

There are multiple steps  to getting a start up off the ground and actually gaining momentum. At every step there are new challenges to face. It doesn’t matter what stage you are in, there will always be challenges in business. The trick is being able to manage those challenges.

1. Identify them ahead of time

2. Create a plan of attack before they get there

3. Learn from them

4. Avoid surprises in business

5. Have the flexibility, knowledge and skill to handle the challenges that do surprise you.

Challenges will have many different faces. Some will be internal, perhaps somewhere along the line you skipped a step in the process and now it’s coming back to haunt you. Some will be external- the marketplace is changing and there doesn’t appear to be a need  for your service . Then there is the greatest challenge of all… YOU! Your mind will play tricks on you if you let it. That’s why it’s crucial to have a plan in place to alleviate self doubt. ” Beware of the thief in the streets that’s after your purse and beware of the thief in your mind that’s after your promise.”Jim Rohn Dare to take on the impossible Most people declare impossible as anything that doesn’t happen naturally or on a regular basis. It’s challenging to take on the impossible, like going to the moon. It also takes hard work, like the 4 minute mile. Lazy people are quick to label things as impossible

  • It’s impossible for women to fly
  • It’s impossible to find a cure for polio
  • It’s impossible to increase our sales by 25% next week

 Ironically, people love to cheer for the underdog or the person shooting for the impossible in movies but don’t apply that in their own lives. To attack the impossible you need:

  1. Desire, a need or a want
  2. Action Plan, road map of small checkpoints to your destination
  3. Commitment and  follow through on your priorities

“If you hear a voice within you say “you cannot paint” Then by all means paint, and that voice will be silenced.” Vincent Van Gogh  

Ten principles to guide your business:

  1. Companies must constantly innovate. Without innovation they tend to do what they’ve always done and run the risk of getting stale and thus competitively disadvantaged.
  2. For a company to thrive it must tap the individual initiative of the team members. This must be a major area of focus.
  3. On any initiative being pursued, team member buy-in is absolutely essential for success.
  4. If a company wants its people to be entrepreneurial in their thinking, they must be kept well informed about processes and visions – and their impact on profit and loss.
  5. Leaders must give all team members everything they need to succeed and be self – motivated.
  6. Companies must reward the creativity of their people.
  7. If a team member owns an initiative, he or she should be accountable for all aspects of its success.
  8. Companies must encourage resourcefulness and out of the box thinking.
  9. All thought leaders must be constantly focused on customer needs and how to satisfy and exceed them.
  10. Leaders and managers must work to maximize team member involvement in all key initiatives to tap the collective intellect of the team.

Anytime you can give key people opportunities for authorship, they will buy in with greater resolve and determination.   Fundamental advice for an entrepreneur:

  • Sales have to exceed expenses
  • Collect your bills
  •  Take care of your customers
  •  Take care of your people

  Your people are not your     subordinates; they are your partners, and you can’t expect people to take care of your customers if you don’t create an environment where they can bring their brains to work and act like owners.  Becoming a success story is easier said than done. At any given time, we are becoming the average of the five people with whom we are most closely associated. Make sure your values are strong and solid, because they’ll be the foundation your life is built upon. Your integrity is one of the most important things you will ever have. Don’t ever squander an opportunity to do the right thing. If you want a life of success and balance, your values and integrity will be the vehicle to get you there.

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One thought on “The Start Up Challenge

  1. Pingback: The Start Up Challenge part 2, the In’s and Outs | THEWAZO

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