Building Your Startup: The Importance of Commitment
By Joe Rife
Show real commitment, nothing is more important to business success!
Your business concept began with a vision -- make it sing! Learn to present your concepts in personal, natural language. Describe your proposal in a few sentences using words and phrases that can echo throughout your discussion.
Isolate your vision from popular cultural and political fashion and build on long term economic and social trends.
Investors, employees, customers and business associates need to understand your passion for the business. Real success will follow if your passion extends past current generation products, staff and organization to include real life-long commitment to the core vision.
You will create opportunity when you are passionate about the technology, markets, customers and other elements of your business idea.
"Internet time" is the standard! Leaders in responsive organizations make decisions based on evidence at hand. Gather information and respond quickly to problems and opportunities.
Successful entrepreneurs live and breathe their dreams. Choose another path if you expect a forty hour work week with scheduled vacations, holidays and weekends.
Be Decisive and Replace "If" with "When"
Take contingency out of your conversation. You will never have all the data. Weigh the information at hand and make decisions quickly. Equally, when you make a mistake, cut your losses and choose a different path.
Our world is all about change and there are no "do over" opportunities. Let the past go and work on the road ahead.
Protect your reputation by accepting responsibility and keeping promises. Never engage in ethically grey behavior.
Know the Terrain
Expect all potential and active investors, suppliers, customers and employees to constantly search for information. Be aware and ready to comment on current events, trade information and people that may impact and shape your business.
Think in terms of short summaries and observations as no one has time for long analytical conversations. Keep these discussions short and to the point. Focus on your primary goals.
Stick with Your Convictions
Test business concepts in tough, judgmental forums. Open doors to discuss alternate directions. Talk about lessons learned and never be defensive.
Listen thoughtfully to alternate views, do not argue, respond by restating objections and move on. Use the experience to innovate, improve your concepts and add value to your business.
Accept Risk Along with Opportunity
The people around you measure commitment by the way you handle business and life choices. They observe the way you handle career, money, life style and relationships. Live conservatively, pay attention to your health and focus on priorities.
In building a startup, you communicate your belief in success through your actions. Nothing reflects commitment more than the way you concentrate on business. Take responsibility and accept the personal and professional risks of your life as an entrepreneur