Many students have dreams of working for the biggest companies in the world, while others hope to become their own bosses and turn their business ideas into companies of their own. And in today’s society, it’s more doable than ever before with the incredible growth of the innovative startup world. There are tons of great ideas floating around out there and the hardest part is often getting them off the ground and up-and-running.
We asked five startup company founders for some words of advice from their own experiences that will hopefully be that extra push you need to bring your ideas to life.
“Entrepreneurs have strong spirits. It’s not only about your educational background or your area of expertise; it’s about having a good idea AND the hustle needed to succeed. It’s also about surrounding yourself with the right people – your team, mentors and collaborators will be your support system to see it through. Starting your own company is a rough yet rewarding road to travel on.”
Alex Kolodkin, Founder of Set Scouter
“Find your drive and find a mentor. Let their experiences guide you and your passion propel you.”
“Yes! You have something great but don’t think that someone will drop a cheque on the table right there for you. If accepted into the community, you have to work for your raise and learn the steps to be a start up company. ”
“Tip 1: Get a great team – Working at a startup is tough. There are good days and there are bad days. Going through all of that alone isn’t something most people can do. Find a team of people to go through the roller coaster with you. When you’re having a bad day they’ll carry you through it. It’s needed.
Tip 2: Focus on Customers – Get your product in the hands of your customers as early as possible. Learn from them where your app falls short and where it’s doing fine. Focus your efforts on solving pain point for your customers — just remember to take feedback with a smile and a grain of salt. Don’t forget to stick with your vision (sometimes early customers can take you off course).
Tip 3: Revenue – As much as the startup world loves to talk about investing, the truth is revenues are far more important. The companies that are able to grow large without revenue are the exception not the rule. The rule is: cash is king. Keep an eye on your cash and you’ll be able to ride through the bumps… then when investors do show up you don’t have to give them your entire company!”
“Having a great team and knowledgeable mentors make a big difference. You have to make sure that you are looking at things from different perspectives and having a strong support structure makes it ten times easier. There are so many experienced advisers who are willing to help young entrepreneurs so do not be scared to ask for help.”