Thousands of people question themselves when starting their own businesses. Sometimes when a business plan fails it is not a complete waste as it can be applied to strengthen your next business plan.
Below are 16 topics pulled from this rare insight into the minds of founders who have succeeded through failure:
- Starting a company with a mission and purpose
- Find your niche
- Nothing is impossible
- Underestimating your potential
- Working with and understanding your co-founders
- Plan while you can, launch as soon as possible and make changes as you go
- Finding the right team
- Finding funding and capital
- Not hiring soon enough
- Watch your pennies but spend the good ones
- Listening to your users/customers
- Expect (and prepare for) the unexpected
- Learn from your mistakes
- Dedication is giving it your all
- Never stop learning
- Tough, but rewarding work
These 30 successful startup founders go into detail about what to avoid in each of these topics above. By reading through and better understanding these tips it can spare you the pain of having to experience these situations yourself. On the other hand, some of the biggest success have been from failure. Simply put, always analyze your mistakes to apply the solutions beforehand, in the future.
Can you share any mistakes you’ve learned from below that you know are valuable precautions to take?