Launching a new company is not an easy undertaking. That’s why —according to Bloomberg—eight out of 10 companies fail
- Solve a big problem: working on something that’s hard is far more worthwhile than something that is easy.
- Be specific about your ideal customer: know exactly who customer number one, two and three will be.
- Talk with 100 potential customers about your idea: this is the only way for you to get the right amount and type of feedback.
- Get teammates: entrepreneurship is hard when you’re going solo.
- Find your passion: entrepreneurship is a long process, so make sure you are fully committed to your idea.
- Build something before you know what problem you’re solving: otherwise you will end up building the wrong thing.
- Be afraid to change your idea: very few startup ideas survive without some changes along the way.
- Focus on making money at the start: if it’s a great idea and customers love it, money will find to you.
- Be afraid to fail: learning from failure is the most important trait of great entrepreneurs.
- Give up!