NI7 Media’s Post

Most startups don’t succeed because of this one reason… They don’t hang in there for long, and eventually quit. Every founder faces their share of challenges - whether it's securing funding, dealing with intense competition, or battling technical issues. Things rarely go as planned. But the ones who make it are those who keep pushing through. Here’s what I’ve learned about staying in the game: 1. Keep improving - The first version of anything is rarely perfect. It’s crucial to listen to feedback, understand what your users need, and make improvements. 2. Build a strong team - I’ve seen firsthand how a dedicated and passionate team can make all the difference. A team that supports each other through tough times can drive the company forward. 3. Manage resources smartly - Keeping a close eye on finances, avoiding unnecessary costs, and making wise investments are crucial. 4. Stay positive - Maintaining a positive mindset, even when things are tough, can keep you moving forward and inspire your team. The key to success is persistence. Keep at it, stay focused, and continue building. Follow for more insightful content at Serge Radisic. #startup #success #competition #investment

9 out of every 10 startups DIE in less than 5 years. Though it's a concerning stat, it also highlights the accomplishments of those who do make it work So, what separates those 10% from the rest? Here are the two biggest reasons why businesses split 1- Ineffective cash flow management: Running out of money states that the end is near. It can lead to a stop in operations, block innovation and can affect trust among founders and investors. How to overcome it: Focus on financial planning from day 1, create a realistic budget, track expenses and explore multiple funding sources to build a sustainable business model. 2- Co-founder Clashes: Disagreements are new normal in a startup environment. But, constant conflict can lead to some serious concerns making it hard to agree on things. How to overcome it: Prioritize open communication among partners and investors. Know your roles, listen to each other, and get help if things get heated. Strong co-founders are key to a successful startup. If you get these two things sorted in your startup, you have already won half of the battle. Now you just need to focus on: Great market fit: No matter how amazing your product or service is, if it doesn't solve a real problem for your target audience, it will be a tough climb Sales and Marketing: Building a great product is only half the equation. You need a strong strategy to reach your ideal customers and convert them into loyal fans. Strengthening the team: Surround yourself with talented and passionate people who share your vision. The right team can make all the difference. Those 10% of successful startups have all these factors aligned with their goals which makes them successful If you are a startup owner or a founder, I hope this helps you. Share the post with others and follow Abhishek for more such tips. Ankit Agarwal, Hexaview Technologies Inc. #Startups #Entrepreneurship

True start-up cliches. 1. Growth solves most problems. 2. Product-market fit > everything else. 3. Listen to what your customers do, not what they say. 4. Timing & market matter more than a good idea or execution. 5. Hiring the insufferable or uncooperative genius is never worth it. Team morale > individual brilliance. 6. Having the best product helps. Having the best distribution helps more. 7. Hire slow, fire fast. 8. The first 10 employees will define your company’s culture. 9. Start-ups die from suicide, not murder. Most are like toddlers unaware they shouldn't play with fire. 10. Don't take investor money unless you HAVE to. More investors, more problems. 11. Winning often means outlasting everyone else. Just don't die. 12. All startups are chaotic. If you want stability, join a corporation. #startups

You do not need to know how to code to become a successful founder! Here you go, I said it! While it is true, 2/3 successful founders come from technical backgrounds, a large majority of them cant actually write a line of code. They don't need to be able to do so to build a startup. All great founders have these traits is common - 1. They understand complexities of specific technologies and are enough tech literate to have sharp conversations and convey their vision to engineering, product & design (EPD) teams. 2. They have or develop clear insights on commercial viability of the use cases that can be built leveraging technology. 3. They are great at selling dreams, aspirations and stories. No founder became great without being able to sell. They sell vision to investors, customers and potential employees, every day. 4. They are all contrarians, who get it right! All their ideas sound bizarre on day 0, 1/10000 eventually turns that bizarre idea into daily habit and becomes great. Others shut down trying. 5. They fail fast, learn faster. Don't shy away from taking very risky yet somewhat calculated bets. 6. They have deep expertise, very unique insights and passion for the problem they are solving. Building a great startup is at least a 10+ year long journey, you cant make it without all the 3 things. 7. They have a very strong biased opinion on the approach they are taking to solve the problem, this strong biased opinion is backed by a ruthless aggressive execution. Let me know what other traits do successful founders have? #entrepreneurship #founders #startup

Starting a business (Dyrect) is exciting, but there's a lot of misinformation out there. Let's bust some common myths about founders and startups! Myth #1: Founders are tech geniuses who code all night. Reality: While technical skills are valuable, successful founders come from all backgrounds. Great communication, leadership, and business acumen are just as important. Myth #2: All you need is a great idea. Reality: A million-dollar idea is worthless without execution. Founders need to validate their concept, build a strong team, and adapt to market changes. Myth #3: Venture capitalists throw money at any good idea. Reality: VCs invest in strong teams with a clear path to profitability. They look for founders with a proven track record and a well-defined business plan. Myth #4: Success is overnight. Reality: Building a successful startup takes time, hard work, and perseverance. Most founders face setbacks and challenges along the way. Myth #5: There's a secret formula for startup success. Reality: Every startup journey is unique. What works for one company might not work for another. The key is to be adaptable, learn from your mistakes, and keep innovating. How's your startup life going? Focus on building a great product, surround yourself with talented people, and be prepared for the long haul. Remember, there's no shame in failing fast and learning from your mistakes. The most important thing is to keep hustling and stay passionate about your vision! #startupmyths #entrepreneurlife #bustingmyths

Reverse engineering your startup success 🔀 Sounds corny, I know. But it's so important to do when you're building out the plans you have for your new recruitment startup 💯 It's all well & good having these grand plans & grand ambitions of what you're business could look like; there's another thing being able to clearly showcase how you're going to get there. Not for "investors", your other half, your mother-in-law but for you. You have to be able to convince yourself of every stage. When you're feeling great & confident about the idea, convincing yourself to launch your own agency is "easy" ☀️ It's when you're having a tough time, a trickier patch in the market, a stickier period billings-wise ⛈️ - that's where, if you've reverse-engineered your startup success in the right way, you'll be able to rationalise that it was the right step for you. There's no need to reinvent the wheel here - chances are you'll have reverse engineered desks you've built over the years. Our advice? Treat it the same & leverage those around you when you get stuck. #recruitmentstartup #recruitmentinvestment #recruitmentbusinesssupport #recruitmentbusinesssetup #businesstips #recruitmentstartuptips

Are you a startup founder looking to take your business to the next level? Scaling can be an exhilarating journey, but it also comes with its fair share of challenges. Today, we're going to delve into the common problems entrepreneurs face when scaling their startups, and offer some practical solutions to help you navigate the road to success. Scaling a startup is an exciting yet challenging journey. It's all about aligning your ambitions with strategic goals and seizing opportunities for scalable growth. Challenge #1: Hiring the right talent. As your startup grows, so does the need for a skilled and dedicated team. But finding the right people who align with your vision can be a daunting task. Solution: Build a strong employer brand and leverage your network to attract top talent. Emphasize your company culture and values to create a compelling proposition for potential hires. Challenge #2: Maintaining quality control. As you scale, it's crucial to ensure that the quality of your products or services doesn't suffer. Solution: Implement robust quality assurance processes and invest in automation technologies that streamline your operations without compromising on quality. Challenge #3: Scaling your infrastructure. Rapid growth can strain your existing infrastructure, leading to bottlenecks and inefficiencies. Solution: Continuously assess and upgrade your infrastructure to support increased demand. Embrace cloud-based solutions to scale your IT infrastructure quickly and cost-effectively. Challenge #4: Managing cash flow. Scaling requires significant investment, and if you don't manage your cash flow effectively, it can create serious roadblocks. Solution: Develop a comprehensive financial strategy, including forecasting and budgeting, to ensure you have the necessary resources to fuel your growth. Challenge #5: Adapting your business model. What worked in the early stages of your startup may not work at scale. Solution: Continuously evaluate and refine your business model to stay aligned with market trends and customer needs. Be nimble and willing to pivot when necessary. Scaling a startup is undoubtedly challenging, but with the right strategies in place, you can overcome these obstacles and propel your business to new heights. Let's conquer the challenges together! #Startup #Scaling #GrowthStrategies

Primary market research (talking to real stakeholders) is still the most underrated, critical part of most startups for this simple reason: You don’t solely choose your customers and users. They also choose you. I still talk to many founders who come to me excited about the product and their imagined user/buyer. And I really get that half the excitement of starting a company is the feeling that you’re finally MAKING something new for the world that you strongly believe is needed. But anyone you seek feedback from who doesn’t push you on how deeply you understand which REAL PEOPLE would actually look for, let alone buy your idea, is either naive or should mainly be part of your cheer squad. It’s a different story if you’re saying, “I know I need to talk to more people in the market to find who’s best to sell to, but I only have a small window to do this and I’m going to just take a bet.” These entrepreneurs are consciously going after a small hill of support knowing there could be an Everest peak of customers next to it. While it’s possible to pivot later on or shift quickly enough to capture the better market, most of the time the technical debt and frankly, faith of all those involved (including funding sources), are strained. Including yourself. We only have so much energy to pour into one endeavor before we feel we need to escape uninspiring results. Now, it’s a philosophical question whether it’s better to start over fairly quickly and build a different venture, or to spend more time upfront wayfinding to the better product-market fit. Personally, I believe crossing better methods with higher energy levels (i.e. earlier in your career) can take you farther as an entrepreneur. So, how do you know if the primary market research is yielding fruit? You find that nugget of gold that customers and stakeholders will buy into in the space of what you can build. Then you focus on building just around that nugget. Primary market research is prospecting for the land that you are going to build a solid foundation on for your startup - a gold mine, if you stick with it. ------ * Share if you think others should read this! * Follow me for more posts about startup leadership, founders, scaling, performance, and personal growth #startups #customers #markets

Before you begin your startup journey it’s worth asking yourself some important questions. Here are 10 questions you should think about. ----------------------------- 1️⃣ What is your motivation for starting your business? 2️⃣ What proof do you have that customers want your product? 3️⃣ What proof do you have that customers will pay for your product? 4️⃣ How long have you known your co-founders? Do you need them? 5️⃣ Have you ever had an argument with your co-founders? Are you friends? 6️⃣ What unique skills do your co-founders bring? Could you just hire someone instead? 7️⃣ Have you built a startup before? What do you think it will be like? 8️⃣ How do you react to criticism? How do you deal with stress or pressure? 9️⃣ What kind of investors do you want? 🔟 What will you say to your investors if you lose all their money? ----------------------------- I specialize in empowering startups and SMEs through tailored capacity building training, coaching, mentoring, and advisory services, resulting in transformative outcomes such as rapid business growth, enhanced profitability, and long-term sustainability. ------------------------------------- ♻ Repost if you find this post useful 🔔 Let's connect Albert Shiebila Mali 🚨 DM, I'm open for business discussion #businesstips #businesssuccess #BusinessTips #startup #businessgrowth

Startups! Here are three key points to ensure your new solution will be successful. (The last point is likely the most important): 1. Map out your initial product release and define "DONE!" Scope creep will kill you. Too often new business struggles because they have a great idea that they keep bolting on new ideas to. You'll never get out the door if you're always making changes. Get it to the customer, and improve it later. If sales keeps saying "we can sell it if..." Get a new salesperson. 2. Get a customer sponsor and have an iron-clad contract that defines "DONE!" Too often (and I have seen established companies make this mistake) your sponsor will say "Thanks for that feature, but if it does this, then we can buy it," only to find they never pull out the checkbook. Define what you will deliver, and what they will pay before you even begin work. 3. Make sure every dollar you spend is to move the solution forward. In the last two decades companies have squandered millions in an effort to become the next trendy and hip employer in the market. If you are spending your VC and Angel dollars on pool tables, foosball, quiet rooms, and latte machines, you're wasting their money, and your employees livelihoods. Imagine how you would feel if you just paid to have your house painted just to find the painters watching your TV and drinking your beer. Yep...it's the same thing. #startups #business #executionmatters #venturecapital #financing #money #timemanagement