5 Tips for First Time Founders

Melanie Li | April 25, 2017

5 Tips for First Time Founders

5 Tips for First Time Founders

Being the founder of a company comes with high stress and strife but it’s all worth it in the end right? For many, they claw and climb to reach the peak of their career and remember that it was the long sleepless nights and fallen friendships that got them there. Through the struggle of entrepreneurship one tends to forget to take care of their mental and physical health which will results in a never ending craving of more. It may be more power, money, or capital that is your vice. Nina Zipkin sat down with founders of Shine, a motivational app, and uncovered the key elements to live a healthy lifestyle while running a business.

1. Invest Your Time

If you’re truly passionate about your company then it may be time to consider making your side project your full-time goal. Every minute you put into your business will give you a higher chance of ROI. Think of all the calls, meetings and errands you can accomplish in a single day, times that by 7 then 52.

You can get a huge head start by brainstorming creative ways to market or finding investments. Once you begin this commitment you’ll find new tactics and ideas to consider in order to help your business grow.

2. Just Get Started

What's the best way to receive feedback? Take it to the streets of social media. Your target audience will be honest, sometimes brutally honest but hey, that’s the stuff that helps you most. Making little changes and updates on the way with the voice of your audience supporting you will give a clearer understanding of what you want and what your customers want as well.

Get started sooner. Your business doesn’t have to be exactly perfect when you launch, there is always room for improvement.

Related: How to Get Initial Funding for Your Startup

3. Go with Your Instincts

Most founders of companies are doing it for the first time and it’s safe to say that there will be many holes and questions that pop up along the journey. It’s going to be a lot of self teaching but don’t be afraid of making mistakes. Mistakes are what’s going to teach you the most. The worst thing that can happen to you is having an easy ride from the beginning, people get arrogant and overconfident.

Stick to your core values and be courageous enough to step away from a seemingly tempting opportunity if the other party seems untrustworthy. This is your company and you are the only person that knows what’s best for it.

4. You Do You

Competition is going to be tough in many if not all fields of business. The key to staying on top is to be aware of their steps but do not constantly compare to others. Competitors have their own values, business models and strengths. You know what you can excel at so focus on fostering the skill you have.

Think race track, horses wear blinders to avoid being distracted by the runners next to them. They hear the hooves pounding and the other jockeys yell but they have their eyes laser focused on the path ahead. One wrong look to the left or right can result in the loss of the entire race.

5. There’s No “Right Way”

If you want to build a company you’re not going to find a step-by-step manual. The process is different for everyone. Of course there are idols and very successful people to look up to but they figured it out their own way as well.

You can ask yourself what success means to you? When do you think you’ll reach that point? These are different for everyone too so just do you and be happy with the journey as much as the destination. For more tips with your first business, click here.

It’s easy to get caught up in all the noise of building a company and seeing others excel around you. But as long as you stay true to yourself and what you want to achieve, you are on the right path.

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