The questions have always been; who is a startup and what do they really do?
Businesses do not sprout out of the ordinary into existence providing solutions to problems and meeting needs satisfactorily. Someone has to identify a need, create, design solutions and grow them into successful businesses. These people are many things; they are startups.
Have you ever been asked; what do startups owners really do or what do you as a startup do?
The rise in startup businesses have left too many people wondering what exactly startup owners do to have such busy lives.
Starting a business comes with Challenges. The work in setting up the ideas that gradually becomes successful businesses, is such a load to bear. From the stages of ideas development, valuation, allocating funds for growth, management challenges among many other activities that poses super stress to the startup owners. During the setting up phases are when concerned observers, friends and loved ones questions what it is that they really do.
At a point in time, startups founders themselves get concerned with what they are about as much as their observers.
Not all startups know what they are really about, hence, find themselves all over the place doing everything and anything. They get overwhelmed with the workloads and confused about how to manage them.
“A Startup is a company that is confused about; 1. What its product is, 2. Who its customers are, 3. How to make money – Dave McClure.”
WHAT STARTUPS REALLY DO?
The workloads is enormous. Most startups have to do everything themselves which can have a toll of stress on them. Not all startups are fortunate to readily access huge investments to employ extra labor (team or workers) to cover up other areas of expertise. This is why startup owners need to have certain unique skills, intelligence and be multitasker – as Danielle Newnham described it in her quote ; “start your business by doing every job by yourself. It’s the only way to learn what you need and who will then be best able to do it for you”.
What they do?
Managing a business is not an easy tasks. There are many managerial activities (I would not go down into details on management) which startup owners badly have to embrace to least perfection. To manage, is to oversee the general running of the business. Monitoring both the external and internal factors that can contribute to the growth and success of the business. Startups owners need a daily planning for these activities. What needs to be done, when it must be done and what’s not.
Innovation is key to making startup businesses standout and achieve their ultimate success. This ought to be consistent and original. When a startup do not have a workable team in place, the owner have to be innovative and creative enough to keep the business running.
What to do, how to do it, when to do it and why it has to be done; are some of the decisions startups need to take on daily basis for their business success.. Strategizing requires brainstorming. Startup owners who runs sole ownerships would have to create alternative solutions alone. And this can be frustrating.
4. Survive competition
The startup market is bustling and cutthroat. This is no competition to be thrilled about. How do startups survive competition? What is the special thingy they must add to improve their businesses over competitors? How ready are they to compete with the experts already in the markets (existing businesses)? These are a few of what startups do regularly to grow into successful ventures.
5. Raise funding
One of the most challenging setbacks for startups; how to raise funds and how to make money. Money is like the vein of the business. It needs money to boost it constantly and without it, the business collapses. Getting funds is as difficult as running the business itself. Although it is not the first most pressing need of the business, the business won’t survive without it.
6. Locate prospects
The business must create customers who creates other customers – your business is no business without customers. People must resonate with the business in order to believe in what it has to offer and then want to buy it. This form of art requires communication and building relationship with prospects. Quite a number of startups do not get it with ease. It takes hard work.
These are just a few among the many things startups do. It is no simple tasks. There are many other responsibilities of startup owners that factors into their overall business success.
THE DAILY TASKS.
Managing the daily work activities can make great deal of difference to your health. Effectively managing it can avoid a burnout. Note that, not all startups have a plan, schedules or routines. Some just wake up to the work. But to do it right, you need to plan your activities to achieve maximum success.
There are days when you would be less motivated or inspired to do anything. You would have bore-some moments, mental breakdowns, be emotionally stressed out and experience the blank hour periods. Everyday would not be the same. There is going to be the good, better and ugly days.
HOW TO KEEP UP AND MANAGE THE WORKLOADS.
1. Time is your perfect acquaintance.
Time masters all craft. Nothing succeeds better with it. Diligence, dedication and patience is what you need for your daily activities. With time, you would learn better what your business needs.
2. Nobody’s routine is perfect; create yours.
Many successful entrepreneurs have daily, weekly, monthly and yearly routines they follow to achieve their set goals. From waking up very early in the mornings, meditating, exercising, and to early morning reading etc. What is perfect for you? What would help you achieve results? Discover them and stick to them. What may have worked for one entrepreneur, may not necessarily work for you too. One or two lessons can be learnt from what worked for them and how they succeeded can serve you a purpose.
3. Create a working schedule
I have never slept without knowing what and how the next day is going to be like; What I have to do, when to do them and why. Planning is important to the startup owner as much as executing the plans. Schedules make you disciplined. It helps you keep track of your day and business activities. It motivates you to stay focus on the goal. It also helps you to respect time. You don’t need to have a solid timetable to work with but you don’t have to be clueless about how your day should go.
4. Adopt a healthy lifestyle
Healthy lifestyle promotes healthy life, and productivity at work. Exercise regularly when you can. Eat healthy balanced meals. Enjoy nature and get enough good sleep, get regular health checkups and spend quality time with loved ones and families.
5. Have the gut to express your failures
Not many people know how to talk about their failures and difficulties for the fear of what others may think of them. To admit when you fall short and ask for help, is one notable strength of an entrepreneur. All cannot be perfect in the quest of perfecting the world, but to inspire the world, you must also embrace your fears and failures.
Feel okay to make mistakes and accept them. Expressing or sharing what went wrong is good for your mental health. If you have to fail, fail good and fail better; then you would be ready to tell your story and build a successful business.
6. Do what works for you
What best works for you is the key to enjoy what you do. Because, you understand what you are doing and why you are doing it.
Some startups follow suite what have worked for successful entrepreneurs without considering what could work within their strengths. It is okay to learn and pick some values from what had worked and kept them winning. But to know what kept them winning, you must first know what didn’t work for them, which are stories never told. Discover your own strengths and weaknesses.
Make your own mistakes, make a lot of them. Learn and relearn from them. That is what would work best for you.
Do you need a strategy help with handling your workloads and schedule? Are you struggling with managing your startup business? Talk to our experts and small business management team.