If you‘ve started your own business or are in the process of coming up with your winning business idea, perhaps you’ve heard the saying that 99% of the startups fail. It’s therefore not surprising that what most entrepreneurs want to know is what’s the secret of the successful business - what’s that thing that makes you different and helps you drive your company to success?
Well, the truth is: none. Being successful is a matter of being creative, resourceful, motivated and, of course, hard-working. Lacking even one of these qualities is the main reason why so many startups fail in their first year. What most people underestimate, however, is the importance of hard work: regardless of how clever your business idea is, how innovative your product is, or how creative you can be with your solutions, it’s all useless, unless you’re ready to spend endless hours, working on them.
During your first year as a new business owner, you need to be prepared to put your company above anything else. Forget about holidays or short business hours - you are the boss, but you’re also the manager of a startup, which means you’ll be the one to come in the office first and leave last. Most startups don’t employ a lot of people, which means that every person’s contribution will be essential to the success - and this puts way more pressure on your team members. Resources will be limited, which means you’ll have to compromise and find creative solutions, which usually involve extra work on your part.
But, in the end, it will be worth it. For every hour of hard work you spend, you’ll be pushing your company a step further on the way to success. Creativity, resourcefulness and motivation are, of course, just as important, but the truth is - when it comes to startups, there are no easy answers or a secret recipe. It’s all about hard work.