How to get started business success

It is not as hard as it might seem to want to start a business and succeed, but mistakes on some of the details often lead to your failure so that your startup can get the ultimate success. Recently, Forbes' Magazine writer Eric Wagner, tells the story of an entrepreneur's failure so we know what we need to avoid in running startups.

The following is the full text of the article:

First let me tell a story about Joe (a pseudonym). Joe was originally a passionate and motivated entrepreneur. His biggest dream is to run his business as a global company. He founded a start-up company from scratch. But the result? Joe is now penniless. Even more surprising is that from the initial venture to the present failure only experienced only 18 months.

As a mentor, coach of a start-up entrepreneur, I actually met so many people like Joe. The number of more than can not be calculated. Although they are not all called Joe, each one of them experiences many of the same mistakes in their business.

So what happened to these people, why did they work so energetically in the first place and did not succeed in the end? The survey found that their failures had generally gone through the following seven steps.

The first step: think of a great idea

For start-ups, this is a good start. As a first step, this is actually not a mistake, because only when you have good ideas and ideas will you be able to start your own business. Currently, Joe everything is fairly smooth.

The second step: fear of others will steal their own ideas, do not want to share with others

Joe has now begun to fail. This is his first mistake. Indeed, we all need to protect our ideas, especially those ideas whose ideas can bring you business value. But on the whole, it is a very bad practice to do so from the very beginning.

Joe told me he did ask a bit of opinion from people around him, but mostly his family and his close friends, all of whom thought he had a great idea. Big mistake.

You have to be able to find out if other people (especially potential consumers of your product) care about your ideas. And the sooner the better. As Steve Blank, the innovator, puts it, the new discoveries from potential consumers are part of an early start-up. The market is talking to each other, not someone's monologue. So Joe's direction is completely wrong, but he still totally unknown.

Step 3: Spend time and money putting ideas into practice

Joe subconsciously concentrate on research and development work, put their own ideas into practice. His product is very good, but does anyone want to use it? Once again, since Joe does not have valid feedback, there are inevitably some loopholes and shortcomings when his product is facing consumers. When coupled with his devotion to producing his innovative products, he did not have the maximum cost of control, and he was already far away from success.

Even if you do not want to set up a high-tech start-up, controlling for cost and efficient ways to develop and interact effectively with potential customers is something startups must do. It is essential that entrepreneurs should be able to detect products with the least amount of money and capture market information, and use market feedback to make further improvements. The days of "making money out of products" are long gone.

The fourth step: the introduction of products, the use of well-designed logo and website

Finally it was time to release the product, Joe was also very excited. He spent his own huge amount of money and countless efforts to set up his own ideal company. Being able to contribute his own product to the world made him very excited but at the same time exhausted him.

But Joe soon disappointed.

Step Five: No one cares about the product

Yes, the magnificent plan he conceived ultimately ended up empty.

Why nobody cares? Because Joe completely ignored the market. He did not have the ability to detect his product through market feedback, and he did not know what the value of the product he was producing was in the market, which meant that neither of these products nor the service required or missed anyone's attention. Even if some of his products really need, but he does not know how to communicate with consumers about the function of the product, because he did not actively talk to consumers and therefore he did not know that the use of those languages ​​is correct.

Speaking to seasoned marketers, they tell you that it is an art to turn hard and tough language into the language the customer is willing to listen to, and that only the language the customer is willing to listen to actually allows them to buy you. product. Only through continuous communication with customers, you can grasp the secret of marketing.

But Joe was not able to do that.

Step Six: Confused, exhausted, eventually bankruptcy

All sorts of bad things made Joe start to feel restless. This is a lot like a swimmer trapped in a deepwater area, where they can not calm themselves down and make the situation worse. At this time, Joe began to spend a lot of money, hoping to save the company, the company up and running. He lacks a clear direction and adopts a marketing strategy of "large-area network casting." But the more he resorts to these wrong ways, the deeper he gets into trouble.

The seventh step: a failure

Yes, Joe eventually admitted his failure and found me for help.

The whole incident is indeed very sad, in fact, this should not have this outcome. In any part of the game from the beginning to the end, Joe is likely to find the right direction, the ultimate success. Now I realize that Joe and his startup's experience is just a microcosm of startups. It is very likely that such a thing will happen to everyone. Although you are extremely clever, you are also very likely to encounter their own blind spots in order to repeat Joe's mistakes.

I know you do have an idea that can change the world, and you really want to be the next Mark Zuckerberg. Perhaps you can achieve your own ideas, but I bet if you will follow the above seven steps to start a business, you certainly can not succeed.