Image by: OTA Photos
By: George Lamb
Starting a business in and of itself can be an obstacle, but sustaining a successful business over a long period of time can be even more of a headache. When considering this, you are essentially investing your entire life into whatever company you’re looking to bring to life. And bringing to life is exactly what you’re doing when performing the task of upstarting a company. Your duties include: Nursing it to life, raising it to grow, and finally–if you’re lucky–watching it blossom into something magnificent in which you can reap the benefits from.
I know, sounds a little intimidating, but even the richest of the richest companies started out as a mere idea. Everything starts out as a seed which must be planted. And if you took the confident step forward in order to at least lay down the fundamentals then you would have already won the battle, but the war is just getting started. And fortunately for you, the guys who have been there and done that, are willing to help you struggling entrepreneurs achieve similar goals that they are enjoying themselves. Goals that include success, riches, and best of all proving all the doubters wrong.
#1) Be Fanatically Obsessive about Your Company
“If you want your idea to succeed you have to be fanatically obsessed about it,” said Jennie Enterprise, founder and CEO of the mega-exclusive CORE club in mid-town Manhattan. CORE is a place that caters exclusively to the rich, providing services to Billionaire CEO’s and common millionaires (Common millionaires, I had to laugh at that one) in the world of fashion, film and finance. Yea, CORE sounds like quite the club, huh… I can tell you one thing, we’re certainly not invited.
But don’t get discouraged just yet, if you take to mind her words and obsess over your idea so heavily that the people around you think you’re delusional, then there’s a chance your vision may manifest itself. What she’s trying to express with this statement is the fact that is doesn’t matter what others think.
Yea it sounds cliche’, but its true. For your vision to bring itself to life you have to see it clearer than anybody else. It would be your duty to make the complete and obsessive commitment to your brand. Be so fanatical about what you’re doing that you eventually tame the eyes of the non-believers into seeing your vision 20/20.
Pretty good stuff, huh? I think even I might utilize Ms. Enterprise’s words.
Another belief she holds about the business upstart is the fact that the idea is indeed important but inspiration and execution are even more significant. Without meticulous execution, even if you have the greatest idea in the history of man, it would hold no meaning if it would have never gotten the chance to be planted in the soil of success that is motivation and execution.
There are a few key steps to implementing a successful idea: the quality of the idea itself, inspiring your consumers to be involved, and finally, the execution of the idea. Keep these three points in the back of your mind throughout every decision that you make and your company will thank you for it down the line.
#2) Be Able to Articulate Exactly How You’ll Make Money
Stephen Kaufer, the founder and CEO of TripAdvisor–a travel website providing reviews of travel-related content–is always thinking about how his company can stay one step ahead of the game. Although his company grossed nearly $100 million last year, he wasn’t always ahead of the game. Back in the year 2001 TripAdvisor hadn’t even made a single dollar, and while he was losing money fast, he needed to speculate effective ways to turn a profit fast.
And the way he was able to do so was gathering his colleagues and deducing exactly how his company was going to monetize the services he offered. “One of the most important aspects of building a successful business is to know exactly who is going to pay you and how much.” he put it simply.
Another crucial word of advice from the millionaire that maybe beneficial to all you entrepreneurs is to maintain a dedicated mentality even before the upstart.
“If an entrepreneur wants to launch a business but intends to (work) 45-hour weeks in the early years, that’s not the all-in mentality that you need to run a business,” Kaufer explains, before emphasizing how much tougher the launching of a business is than it seems. He believes that in order to be successful that an entrepreneur must be willing to fully commit to making their venture successful. And yes, that can potentially lead to a an empty seat at your families dinner table.
Got any experience starting a business? Don’t be selfish, share with the world how you’ve managed to start it up and take flight. Even if its only flown a few miles your story deserves some exposure. Tell us about the ups and the downs, the trials and tribulations, please and thank you!