In honor of Independence Day, here are 6 tips to building a successful startup. Enjoy!
Know the landscape.
When the competition is bigger and better established it’s important to understand the unique strengths you bring to the fight. The United States army may not have had the training of their British enemies, but made up for that with sheer numbers and knowing their (literal) landscape.
In business and in politics, a few good lawyers always come in handy.
Did you know that over half of the founding fathers had legal training? Say what you will about lawyers, when it comes time to draft a constitution or a business plan this, often mocked, profession can be the difference between success and failure.
A new country needs a capitol, and a new business needs lots of capital.
One of the greatest obstacles in the creation of the United States was money. The revolutionary war cost around 150 million dollars, not a price tag the new country could handle on its own. But through sheer determination (and with a few French loans) financing was secured and the country was able to fund the revolutionary war. The moral of the story? Make sure you have the proper financing before making any other decisions. And stop picking on the French.
When you’re just starting out, structure is everything.
Remember when the United States was formed with no plan for structure or strategy? No? That’s because the second most important aspect of starting a new venture (besides having lots and lots of money) is structure.
Put it on parchment paper.
Well, perhaps not parchment but you get the idea. What are revolutionary ideas worth if they’re not recorded? Whip out your MacBook (or ink bottle and quill, if you prefer) and draft up a stellar business plan.
Celebrate your freedom.
Just like the United States, you’ve still got a long road ahead of you. But what’s better motivation than letting loose? Just like the founding fathers used fireworks to celebrate important events (starting a country, no biggie), paint the town red! Celebrate your successes and prepare for the ride of a lifetime.