How did they get so lucky?
By: Christa A. Nelson, MBA
Everyone wants to be the next big thing. They want to be the Uber and the Netflix of the world that are game changers. Reality is that 90% of startup businesses fail. Many feel those who make it are just lucky, but while I believe, there is some luck involved it takes much more than that.
Here are a few characteristics I feel are necessary to get LUCKY when doing what you LOVE:
“People don’t buy what you do; they buy WHY you do it.”
People love to support problem solvers. They love getting behind an idea, someone is passionate about, for the right reasons. Being able to answer your WHY and effectively communicating that to your audience will help generate super fans who will then market for you.
People ♥ Perfect Product Placement
When it is right, it is right. When something fits, it fits. I am not trying to be cliché here, but the timing of the product release in a specific market is key. When a product launches at the wrong time in the wrong market it is almost guaranteed to be the reason the startup will fail.
It is Teamwork, not Luck
Ensuring success is a team effort. When running small business, responsibilities within the company cannot be segmented. Roles and responsibilities will overlap and so having a team approach to processes and resolving issues will help ensure a future for all. Being strategic about building your team will prove to be as important as the product itself. Hire a teammate, not an employee.
As you know, I am a huge fan of the teamwork business model, as I stated before in my “Business Development: It is Everyone’s Job” post.
I feel lucky to work in an industry I am passionate. I enjoy helping individuals and companies discover their DNA and live out their why. I believe when you love your work it won’t feel like work and you will work because you love it. If you think you have the next big idea and you want to start working because you love it we would love to help, who knows maybe we can be your lucky charm. Contact us or just stop by our office.