By | Aniruddha Ganguly | Management Consultant, Leadership Coach, Family Gov Advisor, Startup Mentor. ICF Associate Certified Coach (ACC). Social + Emotional Intelligence® Certified Coach. DiSC® Certified Trainer. MBTI® Certified Practitioner
We must not miss the fact that all large businesses were medium, small, micro and startups at some point in the past.
Interestingly 20% of enterprises fail within the first year, only 50% survive beyond 5 years, and only 30% survive beyond 10 years.
Here are 6 fundamentals of survival and business growth of a startup. Most of these appear to be obvious, but not acted upon with high priority by many founders and business leaders.
First, don’t delude yourself into thinking that your business idea is unique in some ways, and you have an adequate support system, resources, and patience to make it succeed! Allow yourself to be fully convinced about the entire context of your business venture.
Second, continually monitor your own pride, optimism, excitement, happiness, and physical wellbeing. If you are uncertain, pessimistic, distracted, unhappy or unwell, there is no way that your business will succeed. It should be a joyful journey, despite a few bumps occasionally.