Practical Advice on how to Start and Maintain a Startup

Collecting the pieces of advice on how to start a startup deposited by Pascal Okeke

Talking Passion

Passion is not something you find in life; it’s something you do. When you want to find the passion and inner strength needed to change your situation, you have to force yourself to step forward whether it’s about starting a business or otherwise

Many of us are still hopelessly trying to “find our passion”—something we believe will ultimately lead us closer to happiness, success, or the life situation we ultimately want. And we say “hopelessly” primarily because passion can’t really be found.

When we say we’re trying to find our passion, it implies that our passion is somehow hiding behind a tree or under a rock somewhere. But that’s far from the truth. The truth is, our passion comes from doing things right. You’re waiting to somehow “find your passion” somewhere outside yourself, so you finally have a reason to put your whole heart and soul into your life and the changes you need to make. You’ll likely be waiting around for an eternity.

On the other hand, if you’re tired of waiting, and you’d rather live more passionately starting today and experience small positive changes. It’s time to proactively inject passion into the next thing you do. Think about it!

Questions to ask yourself before searching on how to start a startup

When was the last time you sat down and had a conversation with someone nearby, with zero distractions and 100 percent focus?
Do you remember the last time you exercised and put every bit of effort you could muster into it?
When was the last time you truly tried—truly tried—to do your very best?

Like most of us, you’re likely putting a halfhearted effort into most of the things you do on a daily basis.

Because you’re still waiting. You’re still waiting to “find” something to be passionate about – some magical reason to step into the life you want to create for yourself. But you need to do the exact opposite!

The challenge of funds when deliberating on how to start a startup

A ship in the harbor is safe, but that is not what ships are built for. Get that Idea off your skull and start!

Many people think that money and a good idea is all it takes to create a successful business. Money helps, but the lack of it is not the reason for a business to succeed or fail. Entrepreneurs with deep pockets or startups that were flushed with funds or cash would never have failed.

It does help to have a good idea and money in the bank while starting a business, but realistically the most important thing is good timing.

Let’s imagine a scenario where you have a theoretically brilliant business idea, a robust business model, a remarkable team, and adequate funding to ensure a successful business venture. But if your big idea, product, or service is ahead of its time or comes too early and consumers aren’t ready for it. They won’t easily accept your product or service.

Alternatively, If your big idea, product, or service is behind the times or comes too late in a highly competitive market, you will struggle to make it a profitable business.

While the idea, business model, funding, and the team running the business are important factors responsible for startup success. The greatest make-or-break point in a startup’s development is: “Good Timing.”

Remember good timing is everything. If you can get your timing right, you can afford to get a few things wrong.

Dealing with the side effects of other startups

Ignore the hype of the startups that you see in the press when you search on how to start a startup or related queries on successful businesses and startups. Mostly, it’s a pack of lies. Half of these startups will be dead in a year. So, focus on building your business

so you can be the one left standing.

A lot of young startup founders are ecstatic. They think they have the best idea in the world. They feel they have the next big billion dollar product and end up romanticizing their product. They focus too much on its features and functionalities. They put all the bells and whistles to entice customers.

But more often than not, they are wrong.

Even if you have the best idea in the world, if it doesn’t meet the customer needs, then it won’t sell. If your product doesn’t solve customer pain points, then you won’t gain traction. And no big investor will back you up.

When you’re beginning a startup, no one tells you to think about your customers yet. But you should. As early as having that great idea, you have to sell it immediately.

Successful startups know that formula. For you to be successful, it has to combine user/customer research with building your product. Customers must have an input to your product at every step of the way.

As a startup founder, you must be able to handle criticisms to propel a successful business. Don’t just look for positive reinforcements. Embrace negative feedback. But don’t sulk. Take that feedback and make the necessary changes. Adapt the ideas of your customers.

When you prioritize the insights of your customers, then you have a better chance to survive (or possibly, to succeed) in the highly competitive market that we have today.