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LingQ Academy - Tech Startup Course, 7 Big Things A Start-Up Must Have To Succeed

7 Big Things A Start-Up Must Have To Succeed

Starting a new business in this economy may be tough, but it's not impossible. We broke down the top 7 things you should consider and prepare before you jump into launching your startup.

1. A good sense of timing

We mean this in two ways: 1) Picking the best moment to launch your company. This is always a balancing act determined by a great many factors including: the ebbs and flows of your industry, the success or faltering of competitors, the availability of startup funds, and your own personal circumstances (having a baby in a month? Maybe don't try to start a new company right this minute. Want a baby in 3 years? Jump on it right now.) And 2) Getting your business plan completed and making decisive moves to get your business off the ground quickly. We're not saying to rush – by all means, take the necessary time to develop your plan carefully – but so many startups fail simply because they wallow in early development and never even get off the ground. 2. The cleanest budget on the block

A common mistake new business owners make is thinking as long as they can get their hands on a big enough chunk of money, they can plop it in a business checking account and surely it will suffice to cover their expenses. This is wrong and stupid and no – we're not even going to pick nicer words to say that. It is crazy important to have a super detailed budget before you spend a single penny. If you aren't an expert at budgeting, enlist the help of someone who is. Considering that a lot of startup CEOs tend to be more “big picture” thinkers, crunching numbers is not a popular favorite task. As such, is too often glazed over. Just…don't. Every area of the business should be carefully accounted for and the budget should be adhered to as closely as possible. Speaking of which…

3. Self-discipline

We aren't only talking about money here, but to be sure, exercising self-control and sticking to your budget is definitely a must. In every way, running your own business – especially during its startup phase – requires discipline in all areas. Our tips: decide ahead of time on goals for each day/week/month, rather than just deciding on what hours you will work. We're all about a work/life balance, and are not ones to suggest letting your startup take over your life completely, but the simple fact is that startups require a bit more nurturing than established companies. Decide what needs to be accomplished by when, and force yourself to stick to your benchmarks. It's better to pull a couple of long days than to get woefully behind. Oh, and stick to your budget.

4. Super sharp social skills

If you and your team happen to know key people in high places (“high” in terms of their position in your industry, or “high” in terms of the number of zeros on the investment they want to give you), then fantastic. You're ahead of a lot of people. If you don't, being tirelessly committed to leveraging your existing network and seeking out opportunities to make connections with powerful people is part of your job description. Either way, having an ability to form new relationships and nurture and maintain existing ones is important for the vitality of your business.

5. Flexibility

If there's anything that's consistently true about launching a startup, it's that very little will be consistently true. When you put so much time, effort and faith into one business plan, built on one business model, it's logical that you would have trouble accepting that maybe it needs to be modified, or worse yet, scrapped and rebuilt entirely. Unfortunately, at any point in the startup process – from concept to actually being in business – new factors can arise that illuminate parts of your operations, branding…any part of your business really, that need to be tweaked and altered to work better. Investingyour energy and emotions into a business plan is what a good entrepreneur does – being married to one specific method or course of action is not. You should constantly be on the lookout for ways to adjust what you're doing to greater success, and be utterly unafraid to make those changes. 6. Money

Kind of a no-brainer, but had to throw it in here because it is definitely a thing startups need to succeed. Just how much money you need can vary – maybe it's as little as $50k or many millions of dollars – and there are a lot of different ways to get it. Whether it's seed money from your own pocket, angel investments, or small-business loans, figure out which path to funding is best suited for your company and pursue it. Seriously, you need money.

7. Follow-through

Even the most thoughtful business plans, founded on the most innovative, visionary ideas, count for basically nothing if the person/people at the helm lack the perseverance, skills and knowledge to carry the whole endeavor to successful fruition. At the end of the day, knowing how do so something is arguably more important than knowing what needs to be done. Having the experience in the industry your startup exists in, and having the energy to get your hands dirty and do the heavy lifting, are irreplaceable when it comes to making your startup succeed.


7 Big Things A Start-Up Must Have To Succeed 7 wichtige Dinge, die ein Start-up haben muss, um erfolgreich zu sein 7 grandes cosas que una start-up debe tener para triunfar 7 éléments essentiels à la réussite d'une entreprise en phase de démarrage 7 grandi cose che una start-up deve avere per avere successo 新興企業が成功するために持つべき7つの大きなもの 7 dideli dalykai, kuriuos turi turėti pradedančioji įmonė, kad jai pavyktų 7 ważnych rzeczy, które startup musi mieć, aby odnieść sukces 7 coisas importantes que uma start-up deve ter para ser bem-sucedida 7 важных вещей, которыми должен обладать стартап для достижения успеха Bir Start-Up'ın Başarılı Olması İçin Sahip Olması Gereken 7 Büyük Şey 初创企业要想成功必须具备的 7 件大事

Starting a new business in this economy may be tough, but it's not impossible. Começar um novo negócio nesta economia pode ser difícil, mas não é impossível. Начать новый бизнес в этой экономике может быть сложно, но это не невозможно. Bu ekonomide yeni bir iş kurmak zor olabilir, ancak imkansız değildir. We broke down the top 7 things you should consider and prepare before you jump into launching your startup. Separamos as 7 principais coisas que você deve considerar e se preparar antes de iniciar sua startup. Мы разбили 7 главных вещей, которые вы должны рассмотреть и подготовить, прежде чем приступить к запуску своего стартапа.

1\\. A good sense of timing Um bom senso de tempo Хорошее чувство времени

We mean this in two ways: 1) Picking the best moment to launch your company. Queremos dizer isso de duas maneiras: 1) Escolhendo o melhor momento para lançar sua empresa. Мы имеем в виду это двумя способами: 1) Выберите лучший момент для запуска вашей компании. This is always a balancing act determined by a great many factors including: the ebbs and flows of your industry, the success or faltering of competitors, the availability of startup funds, and your own personal circumstances (having a baby in a month? Este é sempre um ato de equilíbrio determinado por muitos fatores, incluindo: os fluxos e refluxos do seu setor, o sucesso ou fracasso dos concorrentes, a disponibilidade de fundos de inicialização e suas próprias circunstâncias pessoais (ter um bebê em um mês? Это всегда уравновешивающее действие, определяемое множеством факторов, в том числе: приливы и отливы в вашей отрасли, успех или колебания конкурентов, наличие средств для стартапов и ваши личные обстоятельства (иметь ребенка в месяц? Maybe don't try to start a new company right this minute. Talvez não tente iniciar uma nova empresa neste minuto. Want a baby in 3 years? Quer um bebê em 3 anos? Jump on it right now.) Pule nele agora mesmo.) And 2) Getting your business plan completed and making decisive moves to get your business off the ground quickly. E 2) Concluir o seu plano de negócios e tomar medidas decisivas para que o seu negócio decole rapidamente. И 2) Составление вашего бизнес-плана и принятие решительных мер для быстрого развития вашего бизнеса. We're not saying to rush – by all means, take the necessary time to develop your plan carefully – but so many startups fail simply because they wallow in early development and never even get off the ground. Não estamos dizendo para se apressar – de qualquer forma, dedique o tempo necessário para desenvolver seu plano com cuidado – mas muitas startups falham simplesmente porque chafurdam no desenvolvimento inicial e nunca decolam. Мы не говорим торопиться - во что бы то ни стало, потратьте необходимое время на тщательную разработку своего плана - но так много стартапов терпят неудачу просто потому, что они валяются на ранних стадиях разработки и даже не отрываются от земли. 2\\. The cleanest budget on the block O orçamento mais limpo do bloco Самый чистый бюджет на блок

A common mistake new business owners make is thinking as long as they can get their hands on a big enough chunk of money, they can plop it in a business checking account and surely it will suffice to cover their expenses. Um erro comum que os donos de novos negócios cometem é pensar que, desde que possam colocar as mãos em um pedaço grande o suficiente de dinheiro, eles podem colocá-lo em uma conta corrente de negócios e certamente será suficiente para cobrir suas despesas. Распространенная ошибка, которую допускают новые владельцы бизнеса, - это думать, что, если они могут получить в свои руки достаточно большой кусок денег, они могут положить его на расчетный счет бизнеса, и, безусловно, этого будет достаточно для покрытия своих расходов. This is wrong and stupid and no – we're not even going to pick nicer words to say that. Isso é errado e estúpido e não – nem vamos escolher palavras melhores para dizer isso. It is crazy important to have a super detailed budget before you spend a single penny. É muito importante ter um orçamento super detalhado antes de gastar um único centavo. If you aren't an expert at budgeting, enlist the help of someone who is. Se você não é um especialista em orçamento, peça a ajuda de alguém que seja. Considering that a lot of startup CEOs tend to be more “big picture” thinkers, crunching numbers is not a popular favorite task. Принимая во внимание, что многие стартапы-руководители склонны мыслить «более широко», анализ чисел - не самая популярная задача. As such, is too often glazed over. Как таковой, слишком часто остеклен. Just…don't. Every area of the business should be carefully accounted for and the budget should be adhered to as closely as possible. Каждое направление бизнеса должно быть тщательно учтено, а бюджет должен соблюдаться как можно точнее. Speaking of which…

3\\. Self-discipline

We aren't only talking about money here, but to be sure, exercising self-control and sticking to your budget is definitely a must. Мы говорим здесь не только о деньгах, но, безусловно, необходимо проявлять самообладание и придерживаться своего бюджета. In every way, running your own business – especially during its startup phase – requires discipline in all areas. В любом случае, ведение собственного бизнеса, особенно на начальном этапе, требует дисциплины во всех областях. Our tips: decide ahead of time on goals for each day/week/month, rather than just deciding on what hours you will work. Наши советы: заранее определитесь с целями на каждый день / неделю / месяц, а не просто решайте, в какие часы вы будете работать. We're all about a work/life balance, and are not ones to suggest letting your startup take over your life completely, but the simple fact is that startups require a bit more nurturing than established companies. Мы все о балансе между работой и личной жизнью, и мы не предлагаем, чтобы ваш стартап полностью захватил вашу жизнь, но простой факт заключается в том, что стартапы требуют немного больше заботы, чем известные компании. Decide what needs to be accomplished by when, and force yourself to stick to your benchmarks. Решите, что должно быть достигнуто к тому времени, и заставьте себя придерживаться своих ориентиров. It's better to pull a couple of long days than to get woefully behind. Лучше потянуть пару долгих дней, чем печально отстать. Oh, and stick to your budget. О, и придерживайтесь своего бюджета.

4\\. Super sharp social skills Супер острые социальные навыки

If you and your team happen to know key people in high places (“high” in terms of their position in your industry, or “high” in terms of the number of zeros on the investment they want to give you), then fantastic. Если вы и ваша команда знаете ключевых людей на высоких постах («высокие» с точки зрения их позиции в вашей отрасли или «высокие» с точки зрения количества нулей в инвестициях, которые они хотят вам дать), то это фантастика. You're ahead of a lot of people. Вы впереди многих людей. If you don't, being tirelessly committed to leveraging your existing network and seeking out opportunities to make connections with powerful people is part of your job description. Если вы этого не сделаете, то вы будете неутомимо стремиться использовать вашу существующую сеть и искать возможности для установления связей с влиятельными людьми, что является частью вашей должностной инструкции. Either way, having an ability to form new relationships and nurture and maintain existing ones is important for the vitality of your business. В любом случае, способность формировать новые отношения, развивать и поддерживать существующие очень важна для жизнеспособности вашего бизнеса.

5\\. Flexibility

If there's anything that's consistently true about launching a startup, it's that very little will be consistently true. Если есть что-то, что всегда верно в отношении запуска стартапа, это очень мало, что будет всегда верно. When you put so much time, effort and faith into one business plan, built on one business model, it's logical that you would have trouble accepting that maybe it needs to be modified, or worse yet, scrapped and rebuilt entirely. Unfortunately, at any point in the startup process – from concept to actually being in business – new factors can arise that illuminate parts of your operations, branding…any part of your business really, that need to be tweaked and altered to work better. К сожалению, в любой момент процесса запуска - от концепции до фактического присутствия в бизнесе - могут возникать новые факторы, которые освещают части вашей деятельности, брендинг ... любую часть вашего бизнеса на самом деле, которую необходимо настроить и изменить, чтобы она работала лучше. Investingyour energy and emotions into a business plan is what a good entrepreneur does – being married to one specific method or course of action is not. Вкладывать свою энергию и эмоции в бизнес-план - это то, что делает хороший предприниматель - быть замужем за одним конкретным методом или курсом действий - нет. You should constantly be on the lookout for ways to adjust what you're doing to greater success, and be utterly unafraid to make those changes. 6\\. Money

Kind of a no-brainer, but had to throw it in here because it is definitely a thing startups need to succeed. Что-то вроде легкой задачи, но пришлось бросить это здесь, потому что это определенно вещь стартапов, чтобы преуспеть. Just how much money you need can vary – maybe it's as little as $50k or many millions of dollars – and there are a lot of different ways to get it. Whether it's seed money from your own pocket, angel investments, or small-business loans, figure out which path to funding is best suited for your company and pursue it. Будь то начальные деньги из собственного кармана, инвестиции ангелов или кредиты малого бизнеса, определите, какой путь к финансированию лучше всего подходит для вашей компании, и используйте его. Seriously, you need money.

7\\. Follow-through Выполнить

Even the most thoughtful business plans, founded on the most innovative, visionary ideas, count for basically nothing if the person/people at the helm lack the perseverance, skills and knowledge to carry the whole endeavor to successful fruition. Даже самые продуманные бизнес-планы, основанные на самых новаторских, дальновидных идеях, практически ничего не значат, если у человека / людей у руля не хватает настойчивости, навыков и знаний, чтобы все усилия были успешными. At the end of the day, knowing how do so something is arguably more important than knowing what needs to be done. Having the experience in the industry your startup exists in, and having the energy to get your hands dirty and do the heavy lifting, are irreplaceable when it comes to making your startup succeed.