Every beginning is hard. It’s like climbing a mountain.
Did you ever consider climbing Mount Everest? It is the tallest mountain in the world, and one of the hardest to conquer. To succeed in climbing to the top of the world, you need to have a lot of preparation, both physically and mentally. This preparation is quite similar to boosting a startup.
When you decide to climb a mountain, you have to research if there is anyone who can help you and provide more information on this topic. For example, how to find a team with similar interests to overcome difficulties during the climbing process? Also, the physical preparation is needed. You need to have enough strength to handle everything that can happen during the climb. And one of the most important element is mental preparation. Like every challenging situation or concrete problem, most of it is solved in your mind. If you can beat difficulty in your head, the rest of you will follow the solution with ease.
To give more sense to this explanation on how to prepare for climbing a mountain, I’ll compare similar concepts from the startup perspective. At the very beginning, it is good to have a team with similar interests. You can do everything alone at the beginning, but it’s much harder and requires much more of your time and devotion. Also, with partners, there will be much more creative ideas and solutions that will speed up the whole process. Hence, don’t ignore others when you decide to create a startup. Besides, physical and mental preparation is necessary. They are entangled and can’t work without each other. Your mind needs to have focus and clarity to formulate and execute decisions and solutions facing vast problems that you will face during the development process of the startup. As a consequence, your body needs to follow with peace. It represents your only vehicle, so to endure till the end, you have to take care of it.
Like climbing a mountain, every beginning with raising a startup is hard. The difference between failure and success among startup companies is the devotion, willingness and endurance of the team to fail until they succeed with their mutual goal.
Because of the many variables, constant research is required.
Would it be great to know which decision to make to have the best possible outcome every time? To have the ability to predict a future?
Currently, it is not possible to know the future of every possible outcome of every possible action or decision you make. But, we can make a hypothesis with a certain confidence level using the information we have. In future posts, you will see that making a hypothesis about your startup is the root of everything. How you can define a hypothesis about your future customer segments, business values, etc?
However, you need to be careful because it is not as simple as making a couple of hypotheses and then raise a business. This represents a daily routine that is utilized for a lifetime of your business. Before any action you take, you have to deliver a set of hypotheses about a relevant problem. Then, the whole team needs to work on proving a given hypothesis and modify them if needed. This process of giving, proving and adjusting the hypothesis about your business represents the origin of a successful startup story.
The point is, there are just too many variables that can influence the success of your startup, and you can’t know them all at the moment. So, give an adequate hypothesis about your startup, and start with action.
Pure relaying on the hypothesis only makes sense if the future is known. Therefore, always have in mind that you continually need to research and modify them to keep pace with the future market.
Plans collapse when the startup comes in the matter.
The majority of startups did not keep the same business model from their start. They needed to learn and adjust during the action time. Ones who didn’t accept that failed during the businesses’ growth process.
Plans collapse when the startup comes in the matter. This is the rule of every startup company. Before you start building a startup company and creating a business model, you have to accept that the initial plan tends to fail. The reason is that at the beginning, you know so little, even if you are an expert in your field. You have to learn everything that is around your area of expertise (how to attract clients and investors, marketing, etc.). Because there is just too much information around, initial plans fail fast (even with the first customer) and need to be modified fast.
You need to hold this in your mind and accept that your business model will fail many times. Sticking only to the current business model will ruin your plans for the startup future. Stay open-minded, and do detailed research on every field of your business (and around it).
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If you find this series helpful, you can contact us at any time for additional advice and help.
Nikola Vukobrat is an entrepreneur as well as a researcher and developer in the vast fields of Artificial Intelligence (AI). Founder of startup company Nncord, and a student of data science at the University Singidunum. His areas of interest are Entrepreneurship, Education, Consulting, Business and Product Development, R&D in the domains of Artificial Intelligence, Computer Science, Software Engineering, Biometrics and Security.
He holds two Bachelor’s degrees from the School of Electrical and Computer Engineering of Applied Studies, Serbia and University Sinergija, Bosnia and Herzegovina. He has previously worked as a software engineer for various startups and corporations, Deep Learning researcher and developer for American and French startups, as well as a co-founder and engineer for two startup companies.
His future focus is on entrepreneurship, education as well as on academic progress and getting a master’s and a doctoral degree in one or more mentioned areas.