DO THIS Your STARTUP NEVER FAIL

A startup is a risky business. It involves a lot of unknowns, such as money, time, and talent. There is no guarantee that a startup will succeed. Some startups fail outright. But startups are often highly innovative, fast-paced, and exciting. If you're planning to start a new... business, you'll probably be making a lot of decisions that could... potentially make or break your success. From choosing the right legal structure... to choosing the best location to setting up a budget that's both realistic and... achievable, there's a lot to consider. Fortunately, there's a science behind all startup failures. Look further at everything that has worked... and you'll notice that successful startup outcomes aren't random, but rather the... consequence of a well-planned strategy.

If you’re passionate about the... business world and ready to take a leap of faith, then it’s time... to launch your own startup. But before you do, here are the 4 bests... pieces of advice from Elon Musk and Jeff Bezos to the new startup owners... that ensure your startup doesn't fail. Let's get started.

Number 1. Define your vision. In a startup, the most important thing is having a solid vision for the business. It's really easy to get lost in the sea of uncertainty and have no direction in sight. You'll also need a good team to help guide you. But the most important part is to define your vision. Have a clear picture of what you want to achieve and why. Don't get sidetracked by the daily tasks. They will inevitably fill up your time, but not with a vision. You're building something new, and that requires passion and belief. The more passionate you are about your vision, the better. Make sure you have a... clear vision, and you can achieve it, no matter... how big or small it is.

Elon Musk was able to build a... billion-dollar empire in the financial services, automotive, energy, and... aerospace industries using this strategy. "Bring things back to their fundamental truths and reason from there," Musk says. "Before you get into the leaves, understand the trunk and big branches. or there will be nothing for them to hang on to. " You may be working for a big company now, but your vision will carry you far. It will be a constant reminder of the end goal. So, remember to define your vision, and stick to it. It will serve you well as you head toward your goals. Your vision will be an ongoing reminder of the end goal. Your vision will drive you to work hard and accomplish your goals. You will not give up because you set clear and defined goals. When you work hard, you will have a sense of accomplishment that will... inspire others to work hard.

Number 2. Sequence your process. Create a target-based program of goals –... hire this type of person, set up a client dashboard, test the sales pitch – and list... these tasks in the order they must be completed. Define your processes in detail and be clear about the steps necessary... to avoid deviation. There are several elements of your business plan that will require... your constant attention. In the next few weeks, you will... likely find that your schedule will be filled with meetings with customers, suppliers, and new business partners. You will also need to set goals for... your company, develop your marketing strategy, hire and manage employees, and find ways to generate income. But you don’t have to do all this at once.

Instead, you can take it in a step-by-step approach. For example, you can begin by... setting goals for your first six months and then progress to the... second half of your business plan. Once you have completed... the entire first year of your plan, you can proceed... to the next section. This is a sequential approach to... planning, and it ensures that your efforts are balanced and that you don’t... put all your eggs into one basket. Writing down our goals helps us keep... them fresh in our minds, identify areas for improvement, and break... them down into measurable milestones. The billionaire Richard... Branson swears by taking notes and encourages his Virgin... employees to do the same. "An idea not written down is an idea lost," says Branson. "You must seize inspiration when it strikes. "

Number 3. Focus on the goal. It is simpler for a young firm to lose momentum without a well-written strategy describing objectives, scope, and... competitive advantage. Distractions might cause a... business owner to abandon their goal or become inactive... in their work completion. Because of a specified business... goal and philosophy influencing the decision-making of every single... one of his thousands of workers, Jeff Bezos created more shareholder... value than any other contemporary CEO. "It helps to build your approach on things that aren't going to... change," Bezos explains. "Who your competitors are, what technologies are available. those things will change so quickly that you'll have to adapt your... plan quickly as well. " You might have started a business that is supposed to grow and... generate profits for you. However, you have been unable to generate enough revenue and profits. You have spent countless hours working on it and now the business is struggling. Don't let it get you down. It's a great feeling when you... see a profit coming into the business because you invested a... lot of time and effort into it. However, you also know the business can fail. There is always the... possibility that something could happen to put you out of business.

You might even be sued. Even if none of that happens, you might still fail if you don't do something... different with the business. You need to learn to focus on the end result. Focus on the goal. Make sure you spend as much time as possible making sure that the business will succeed. As a business owner, your success is dependent on the revenue coming in. If the revenue is not there, it could spell disaster for your business. If you are constantly focused... on generating more revenue and profits, you will be able to... take care of everything else. The most important thing to... remember is to focus on the goal and do everything you... can to ensure you reach it. You have a business idea or a product that you want to build. There is nothing wrong with that. But what if there were 100 other people with the same idea? Or, 1000 others? The problem with that is the competition for your attention and time. The solution is to focus on the end goal, not the means of getting there. It is easier to focus on the end result. For example, if your... business is about building websites, focus on the end... goal: building websites. Then you can figure out what the best way to build websites is. If you have a specific idea of... what you want to accomplish with your website, it will be much easier... to set a schedule to get there.

Number 4. Don’t rush to scale. Airbnb now hosts over 150 million guests... in over 65,000 cities, but only because its founders recognized that to scale, they needed to do things that don't scale. Brian Chesky, the... company's founder, explains that you don't start out... with 100 million users. "You have to start small, so stop thinking big and start thinking small. " We refused to begin building... technology for scale around our company for two years because we knew the... process needed to be refined first. Launching an expensive campaign... without first laying the groundwork and testing it increases the risk for a new startup with an... already low survival rate than sticking to the goals... outlined in the vision. Startups often get bogged down with scaling or growing too fast. This leads to burnout and the... company founders or managers often end up making some poor decisions... that further damage the business.

If you are the founder, take stock of your... team, assess whether they are ready for the next stage, understand your market and business... model, and decide if it is worth scaling. If you are a manager, don’t assume... that more people or resources will solve problems that are... not solved by your current team. It’s easy to think that your job is to make sure... everything runs smoothly and you should only worry about the day-to-day operations, but it is... not your job to be a cheerleader for your team. When you step in, you must help your team grow and learn and teach them how to work. You cannot run a successful startup if you are busy with day-to-day operations. This will only lead to failure.