Succeeding in a startup is probably the biggest challenge for entrepreneurs anywhere in the world: even for those who already had a successful venture.
Depending upon the business idea and the market conditions, situation may vary for every individual, but there are some core areas where every startup needs to be focused on.
Anna Vital published an infographic on Founders & Founders that highlights all those point well and I just tried to elaborate them further.
1- Pick a Good Co Founder: Your energies get doubled when you have equally competent and skillful partner.
2- Launch Fast: Just don’t let anyone else do it before you!
3- Let Your Idea Evolve: Always remember that plateau is startup death!
4- Understand Your Users: Because you are building something they need.
5- Make At Least a Few Users Really Love You: Have a few and see how they multiply.
6- Give Surprisingly Good Customer Service: The more you care about them, the more loyal they will be.
7- You Make What You Measure: Develop forecasts, benchmark activities and analyze what works and what not.
8- Spend Little: To make profit, you must be cost efficient!
9- Get Ramen Profitable: Think of alternative direct and indirect revenue models.
10- Avoid Distractions & Don’t Get Demoralized: Whatever comes in, you have to stay focused. Do read the 16 Motivation Killers and How to Avoid Them.
11- Don’t Give Up: Don’t event let the feeling surround your thoughts!
12- Don’t Die: It’s good to stay focused and work hard, but your health comes first. Remember, your startup lives only when you are alive!
All the above points are the ones that most startups ignore considering them minor stuff, but actually these have a bigger impact on startup birth, growth and life!