There is nothing more valuable in the business world than experience, and the advice of people more experienced than you. This week, eight top co-founders shared their thoughts that are the best decisions they have made about their business. Everyone made one of the most important revelations of their decisions.
Table of Contents:
- Martina Welke , Zealyst
- Derek Capo, Next Step China
- Danny Boice, Speek
- Cory Blake, Round Table Companies
- David Ehrenberg, Early Growth Financial Services
- Nicholas Gremion, Free-eBooks.net.
- Shradha Agarwal, ContextMedia
- Bryan Silverman, Star Toilet Paper
8 founders shared their thoughts that are the best decisions about their business:
1) The Right Co-founder is Everything:
Choose cofounder carefully. A co-founder running the company will be the other half of the waist. This person will spend more time with you than anyone else. Therefore, it’s important for the relationship that both will be completely tolerant and honest.
People we care about need to express themselves when they don’t agree with an idea and when the other person is on their nerves. But most importantly, they are committed to the project and can fight small battles and move on.
It is said that the founder will fight and they will be obsessed with each other for weeks. But to run a company, they must be controlled and not questioned.
Consumers and investors can see when the cofounder has a respectful and committed relationship. It gives them a sense of confidence in the company.
So in the end, a cofounder should not be someone you are just friends with. To see it, they have the same passion for the company and professionalism.
–Martina Welke , Zealyst
2) Invest In A Subscription Or Monitor:
According to Derek Capo, since the beginning of Next Step China, its biggest decision has been to invest in Mixergy subscriptions. This service includes teachers, counseling, and overseas courses.
Through the services, Capo was able to get true stories of experience from teachers, and what to expect from being rejected before they could endure the ordeal.
This service was the Next Step for the Chinese team to deepen their skin, and gain experience without endurance.
–Derek Capo, Next Step China
3) Success Depends On The People:
In addition to choosing the right partner, the management team should only be concerned about getting the best services they can afford. This refers to the staff who are interested in the success of the company, who will be satisfied overnight during the initial stages or by the end of the week.
Founders should be wary of employees who have the ultimate goal of becoming part of the company, or who want to work there for their own benefit.
These are the employees who jump on the plane whenever something goes wrong during the journey. The team needs to work better together and be competent in their work. This means there is no friend just to hire a friend. Unless the employee can do his job, the company will not be found anywhere, and money will be wasted on salary.
–Danny Boice, Speek
4) Not Every Customer Is The Right Client:
The biggest mistake a startup makes is taking customers who do not benefit from the company’s core values. As a result, the team uses a lot of energy, and the amount they receive is usually relatively small. The company needs to serve customers who are on the same page.
These clients will need the dedicated attention of the team, which is spent on real estate. Founders need to be able to distinguish between the two and have the courage not to say the wrong thing to their clients. Money is not everything, especially when it comes to growth and experience.
–Cory Blake, Round Table Companies
5) Stay Away from Crowded Markets:
Success in business comes when the company has the right market for the service. A startup should look for a market that is not crowded, or already has a large number of suppliers.
This is not good for competition because there is a lot of thought into everything. Instead, they should focus on a market that does not require suppliers or technology. A market where they can get new strategies and products.
–David Ehrenberg, Early Growth Financial Services
6) Jump In:
Many startup thinkers are wary of starting their own endeavors for several reasons. This may be due to lack of funds, lack of time, or fear of negative successes beyond initial successes. But they will never know what is beyond them if they do not try.
–Nicholas Gremion, Free-eBooks.net.
7) Focus On One Thing:
Initially, the starting point should not be filled. They should focus on one market, and provide one product to that market. This allows the team to focus on one goal.
Doing so is more likely to succeed. It takes a lot of energy and resources to focus on many goals, which are important for the early stages.
It’s best to reach a goal and then expand with more products, or go to other markets.
–Shradha Agarwal, ContextMedia.
8) Do Personal Market Research:
Certainly founders can research others in the company’s market. But by doing so, they will be able to learn more about their inner workings, if they leave the research to a third party. Always make sure you get the right advice and services from the right lawyers.
–Bryan Silverman, Star Toilet Paper.