Of course, you will receive plenty of training in business schools and institutions when it comes to building and managing a startup. However, some of the most valuable startup lessons are often learnt on the field rather than in a classroom. Following are some of the more important lessons you will not be able to learn in any business school/institution.
Tell your Idea to everyone
Some believe that sharing information about their startups would lead to the latter being duplicated in the market. However, share information about something that is unique and cannot be replicated and you can easily share your idea with everyone. Remember, it’s the execution that counts, not the idea.
Stay away from advice
The startup market is literally teaming with wannabe entrepreneurs who would have plenty of advice for your idea even if they have not tasted success in their own ventures yet. No one would understand your business better than you. So trust your gut instinct and stick to your goals, shoving out all irrelevant advices out the back door.
Your co-founders are your spouse
Not literally, but you need to choose co-founders who share your vision and would stick around with you till the end. You would spend more time with these co-founders than your own family. So choose the ones that have the skills, experience and personality that complement yours. Set up a strong team and you are bound to go places in a very short span of time.
Don’t count the money
Of course, you would need to concentrate on the ROI value of your startup. But it’s not always about the money. Don’t build a company with the sole purpose of raising enough money and then selling it off. Build a company you can call home and can work in for many more years. Along the way, you would build a team of loyal players who would stand by your side as and when you taste success, which by the way is more than just about monetary gains.
Recruiting employees for your organization can be a tough task. Instead of focusing on the brightest minds, choose the ones with entrepreneur like minds who can help you in running the startup. These individuals would be with you through thick and thin and would usually be the ones that are willing to take risks and are hungry to succeed just like you.
These are some of the startup lessons you are bound to learn on the field. Remember this, failures are a part and parcel of every business venture. So don’t lose heart if you fail once. Rather, add the same to this list and continue chasing your goal.