The 3 essentials to make your next virtual startup a success
When you think of a startup, the word “investment” pops up. The word startup and investment fit in the same sentence. They go hand in hand. What I have realized is over the years there have been many companies, which have carved their niche to the top without investments from angel investors. For a young startup, you can decide to raise investment early on, or at a later stage, or not raise any at all if you are built profitable to begin with. I have talked about productivity and inspiration of young entrepreneurs of today at lengths in my earlier articles. The focus of this article is the key strengths that your business must have to climb the ladder of success.
- Idea fuelled by passion and driven by direction: As a founder of a company you need to be obsessed with your idea. Passion and faith in yourself is what is going to get you through the tough times. You need to be absolutely convinced that it is going to work. Now passion alone without a clear direction is like dreaming to win the grand-prix without a F1 car. Direction is what makes you productive. You need to know where you are going but more importantly the steps you need to take to get there. If your startup has a founder who has a clear vision, and laser sharp focus and clear direction, you are all set to make it big.
- Importance of Iterations or Pivoting: When you are first starting out, there are numerous things and ideas you want to work with. As a bootstrap, often you don’t have the time and resources to roll out all your products and services at the very beginning. When you work through the challenges, iterations will lead you forward. Take feedback from within your company and from your customers. Your startup business is your best teacher. It will give you signs on what’s working and what’s not. Intense iteration allows your business to evolve and grow. Unlike what you may have thought in the beginning, markers of success will dictate the patterns you need to follow.
- Virtual Assistants: They are your technical soul mates. As a startup, you want to save every last penny. They are your secret weapons of growth. They take care of the technical and personal tasks that you should not be spending your precious time on.
As an entrepreneur you want to leverage your time and money. By hiring a virtual assistant you are doing both. As Pareto described in his “Pareto Principle” you should be focusing only on the 20% that matters. When you are starting out, you have errands to run, book flights, file the paper work, find the best hotel deals, need a new website, updating your blog and all this is happening at the same time.
So what do you do: The key is to have someone else do it while you focus on the important part. Like growing your business, meeting your potential partners and making your business successful. When you have more time at your hands, you will find yourself doing more.
If you want to know more about virtual personal assistants or need help with technical tasks, get in touch with us. We would love to know, how we can help you.