Out in the real world, there is no perfect recipe to cooking success. No matter how great your idea, service or product is; it stands a chance of utter failure or a colossal success. There are a bunch of factors, both internal and external in a business environment that can make or break the deal.
Here are few basic key points that are quite essential to make a startup a high-flier.
Personal motivation- As an entrepreneur self-motivation is a key factor in running a good business. Diving in the pool of cash and riches is one ultimate motivation for every entrepreneur. But keeping that aside, what else keeps your engine running, matters most. How many painstaking hours are you ready to spend as an entrepreneur? What compromises are you willing to make? How long are you going to hang in there, when things go wrong? Being the head and leader of the business, self-belief and motivation is the key to success.
Skill management- Hiring a skilled workforce is one of the most important ingredients for success, unless you are going solo. The perfect mix of experts will bring experience and work in coordination with one another. Get professionals on board who have in-depth knowledge of the market and product. As a startup, your team should have the right number of talented professionals in every field. For example, for an E-commerce team, Chief executive officer, marketing manager, operations manager, human resources, finance head, administration manager, customer service executives and so on, will be essential. In case of a one-man show, it is always helpful to get guidance or counselling from experts from a similar field.
This story is from the August 2019 edition of Small Enterprise.
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This story is from the August 2019 edition of Small Enterprise.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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