You have seed money, and you have an idea. Perhaps, you even have venture capitalists negotiating with you. Now, for the best chance at success, you need the proper mindset.
Become Risk Comfortable
No matter your target niche, you must seek to disrupt the marketplace. Shrinking violets do not revolutionize business landscapes. Resolve to take risks everyday. After all, most startups fail, so you might as well be a risk taker.
Preach Action to Yourself and Others
Whether you’re selling a new online service, a revolutionary gadget or the latest widget made on a variable speed metal lathe, you must play the game differently from older companies. Startups are naturally nimble. Use that nimbleness. Build a company culture that values action more than analysis. While analysis of methods and results can help businesses, too few outfits create enough data prior to analyzing to draw reliable conclusions. Successful Silicon Valley leaders tell their team members to fail forward fast. That mindset enables innovation, and innovation does not occur within spreadsheets or other analysis tools. Take action!
Prepare for Adversity
Critics ridicule failure, but it is a normal part of life. Every person routinely fails, so you must prepare yourself to intelligently deal with that fact when you or someone at your young company makes a mistake. Imagine how to positively approach failures. Train yourself to live in appreciation instead of expectation. Modern self-improvement gurus advocate appreciation mindsets. They can help you empathize when employees stumble, and they can help you fully celebrate your company’s successes. Adversity is certain. Do not fear it. Prepare for it. Resolve to keep taking action toward your goals despite failures. Your startup will have a better chance at success.
Of course, each entrepreneur uniquely defines their success. You might use a vision board, or you could have goals scribbled on a notepad. Either way, always keep your mindset in mind.