Navigating the early stages of a startup is an exciting but rewarding endeavor. There’s no shortage of business advice, but it’s especially valuable to hear directly from those who have successfully tackled this challenge.
To help you with this, 18 members of the Newsweek Expert Forum will share their top wisdom for new startup founders. Read on to discover the lessons they’ve learned along their entrepreneurial journeys and how these insights can help shape your own path.
1. Overcome small setbacks
Don’t give up even if there are small setbacks. This is a pivotal moment for new entrepreneurs to understand that things won’t always go the way they expect. Stay consistent, push through the moments of setbacks, and strive for perfection, and you will be rewarded. – Tammy Sands, Tennessee Nursery School
2. Understand the variables that can impact success
I start by asking startup founders what the price they have to pay to get into a startup business is. And let them know that doing your best to succeed is not enough. It takes luck, skill, and the cooperation of people around you, suppliers, clients, etc. Still, sometimes things don’t work out. Even if your startup fails, it might be worth it if you don’t regret it. – Zain Jaffer, Zain Ventures
3. Embrace failure
It’s okay to fail. Accept failure as your greatest teacher, not your enemy. This phrase is intended to encourage the growth mindset and resilience necessary to navigate the complex world of entrepreneurship. Setbacks are inevitable, but they can also be transformative. – Dr. Kira Graves, Kira Graves Consulting
4. Prioritize customer value
Focus on solving your customers’ real problems and make sure everything you do brings value to them. Businesses are successful not by the products they sell, but by the problems they solve. – Britton Block, Navy Federal Forces
5. Track your sales
Follow the money. If prospects aren’t buying your product or service, you need to change your offering before it’s too late. – Krisztina Veres, Veres Career Consulting
6. Respect your boundaries
Honor your boundaries and non-negotiables. Don’t let urgency or impulsivity overshadow them. – Leah Marone, Corporate Wellness Consultant
7. See entrepreneurship as a marathon
Remember, it’s a marathon, not a sprint. Please take a break and enjoy your trip. – Jacob Kupietzky, HCT Executive Intermediate Management and Consulting
8. Start with small steps
Do what is actionable. It’s easy for new startup founders to get overwhelmed and get caught up in a never-ending sea of ​​action items. Start small. Do one task at a time, for five minutes at a time. Small steps create momentum. Momentum creates progress. Progress creates results. – Karen Mangia, Engineered Innovation Group
9. Be the leader people need.
Are you the leader you need, or the leader your people need in order to succeed? Founders of new startups need to decide how to accurately and specifically determine answers for each employee. there is. – Jay Stephen Levin, WinThinking
10. Cherish the people around you
Take care of the people around you. Avoid relying on threats as an act of control. – Suzanne Mataboni, Suzanne Mataboni Communications
11. Prepare for a lifelong commitment
Anyone starting something has to approach it like a marriage. That means giving it your all for the rest of your life. This is the attitude you should have. Because there will be many times when you don’t like it or when you want to give up. Your attitude and the level of commitment you set at the beginning of your journey will determine how successful you will be. – Baruch Labunski, Rank Secure
12. Solve real problems
Focus on solving real problems and providing value to your customers that helps solve their problems. This advice is critical because it reminds startup founders to prioritize the needs and pain points of their target market. By tackling real problems, founders can create products and services that people want. – Alan Wozniak, Business Health Matters (BHM) Executive Consulting
13. Make customer success a priority
Make customer success your main focus from the beginning. I recognize that the growth of my business relies on continuous learning and adaptation. I involve my customers in this process by listening to their feedback, which helps us improve and makes them feel valued. Startup founders can benefit from this strategy by increasing customer loyalty and driving referrals, contributing to sustainable growth. – Jergo Valli, Lensa
14. Hire people smarter than you.
Hire people smarter than you. Do whatever it takes to make these hires a success. The reward will be your own success. – Darlene Andert, Accounting for Profitability LLC
15. Protect your interests with a good lawyer
Business is a dirty game, so hire a good lawyer. You never know who might be trying to steal your ideas, money, employees, etc. At the moment of betrayal, you need to have someone nearby who will protect your interests and protect all your time and energy. Don’t trust anyone except your lawyer. – Cynthia Salarizadeh, House of Saka, Inc.
16. Choose your initial team members wisely
Your first hires will shape your company’s culture, so choose wisely. These early team members act as culture bearers and set the tone for the work environment. Their attitude, behavior, and dedication influence future hires and impact the overall success of your organization. – John Quinn, Quinn Emanuel
17. Know that happiness is the key to success
As Albert Schweitzer once said, “Success is not the key to happiness. Happiness is the key to success. If you love what you do, you will succeed.” This timeless advice emphasizes the importance of passion, fulfillment, and joy in entrepreneurial pursuits, and emphasizes that true happiness is the driving force behind success in business. This philosophy not only creates success, but also maintains resilience and fosters a sense of fulfillment. -Anna Yusim, MD, Yusim Psychiatry, Consulting and Executive Coaching
18. Don’t give up
There is no shortage of insight and advice for new startup founders, but the most profound and valuable advice is to never quit. Many experts and examples show how new founders reach the top of the mountain with a clear vision, a strong complementary team, ongoing customer feedback, innovative solutions, resilience and integrity, and defying naysayers. It shows you the way to get there. See you at the top! – Lillian Gregory, The 4D Unicorn LLC
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Newsweek is committed to challenging conventional wisdom, seeking common ground and finding connections.
Newsweek is committed to challenging conventional wisdom, finding common ground and finding connections.
