Secrets to STARTUP SUCCESS

Early Warning Signs: Are You in Danger of Being Trapped?

It’s hard to differentiate between healthy optimism and blind opti­mism. Below is a list of early warning signs to help you evaluate whether you are in danger of undercutting your odds of startup suc­cess. The more accurately the following sentences describe you or

Your startup, the more likely you are exposing your new business to unnecessary risk. Are you. . .

■ Thinking or saying, “This is a sure thing?”

■ Losing patience with people who point out risks or shortcomings in your plan?

■ Believing your solution is better than anything on the market?

■ Feeling full of energy but lacking focus and traction?

■ Measuring progress by how good you feel?

■ Expecting most of your sales to come from word-of-mouth or “viral” marketing?

■ Assuming that you are entering a space with little or no competition?

■ Counting on immediate revenue to avoid financial problems?

■ Plotting global domination before releasing your first product?

■ Lacking clarity about where your business stands financially?

■ Delaying product releases until they are perfect?

■ Preventing things from happening without your involvement and approval?

■ Loving your product, with no idea who will buy it?

■ Hearing great “buzz” but finding few (or no) paying customers?

■ Finding yourself saying (about your customers), “They don’t get it yet, but they will!”?

■ Thinking that planning is a waste of time?

Secrets to STARTUP SUCCESS

Resources and Readings

Thanks to Internet search technology and social media interconnec­tivity, answers to most entrepreneurial questions can be found with a few clicks. I have attempted to list sources beyond the usual …

Startup Readiness Tool

This tool can be used to: ■ Evaluate and improve a founding team’s readiness to launch a business ■ Calibrate the timing of a startup effort (accelerate or delay) ■ …

PERSEVERE WITHOUT ATTACHING

The deepest form of entrepreneurial commitment acknowledges and accepts that there are forces in the marketplace that are beyond the founder’s control, forces that will impact the venture’s destiny for …

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