The outcome of the startup is not always the one we predicted or expected it to be. Things can go wrong. Startups are always at risk initially and it takes courage to generate an innovate idea and implement it for the very first time. You must have some assets to invest. No startup gives you assurance of success. It’s always a chance to start with; it can either be a failure or a success. You have to make a mind for both.
Success Parameters for the startups:
Success is defined and measured by different parameters in case of startups. It depends how you define your success. It’s about our priorities and core values to be a successful business owner. Success might be a completely different mindset for another business owner’s perspective. Your perception of success can never be defined as universal. The reasons why startups fail for you can be entirely different idea from another.
Let’s have a look on what ground values we can define success:
Talk of the Town:
For some startup business owners it’s the fame and the buzz they have got. The biggest talk of the town might be the major aim for some startups. Being in the limelight among your industry competitors is indeed an achievement. To create hype about your very new startup you must have a smart marketing plan too. Taking your startups in the headlines at very early stage consumes a lot of hard work and planning. A great plan with accurate execution can make it happen.
For some startups it might not be the fame but the revenue it is generating by hook or by crook. In this case business owners at times choose to make the profit first priority rather than the other success parameters. It will not be about the quality, trust that customer is putting in you. It’s always about the money you are earning. This would be more appropriately called selfishness rather than success. It won’t long last. People will have trust issues.
For genuine business owners it’s always, I repeat always, the quality, customer care and satisfaction. Wining hearts of the user should be the core purpose. If you want your startup to last and make firm roots, keep your customer satisfaction your very first priority. Fair revenue is the right of every business owner but not at the cost of the quality of the product or service. You are at the right track of successful startup if you are following this phenomenon. The success in this case is consistent along with respect too.
It would be cherry on top if you are your customer’s favorite when they have to choose among the competitors who are delivering the same quality with the same cost. What made them go for your brand? That’s the X factor. This is where the real success is defined when the client have to choose one for no apparent specific reasons. There must be small gestures of love, care and affection with the customer that you have to develop. It should not be only about business. Developing a bond which reflects your association to the customers adds the x-factor which makes you stand out and the first priority of your end user despite having competitors with the same quality and price.