A start up provides with both unique opportunities and challenges, and when it comes to a tech start up the growth curve is a roller coaster ride.
In the year since we launched the beta version of the COFE App, a lot has happened. So, we thought it would be a good time to reflect on everything that we have learned so far, as COFE App 2.0 gains momentum with our COFE Lovers. So here are the five most important lessons we have learned so far:
“True originality consists not in a new manner but in a new vision.” Edith Wharton
Before you start creating your business plans and five year strategies, before you get into board rooms and start pitching to investors, envision what you want to do. What is it that you really want to bring to people, how you connect with it personally, who you aspire to work with, and in a broad sense how you see your business grow.
“Coming together is a beginning. Keeping together is progress. Working together is success.” Henry Ford
Finding the right team is almost as important as having a vision. Without people, you cannot bring your vision to life. So look for talented people, who are not only passionate about the work they do, but also share your vision, believe in your company and are excited about your product.
“Ideas are nothing without execution.”
With a clear vision in your head, and a talented team by your side, the next thing to do is execute. All that time spent making plans, and creating presentation is nothing if it is not brought to life. So commit to what you believe in, and work hard, every day to bring your project to life.
Create your own success story:
“If you would not be forgotten as soon as you are dead, either write things worth reading or do things worth writing.” — Ben Franklin
Spend time telling people your story, invest in building a kind trustful relationship. Listen to what people are saying about you, monitor your performance, and follow numbers and rankings. Every voice is important, especially when you want to create something that lasts.
“Don’t wait for your money to run out…”
Setting up a business by no means comes cheap. Startups depend heavily on those initial investments, before the company really start to fly. These times can be uncertain, with surprises around every turn. So go out, get those investments, and don’t wait for a rainy day, because when it comes to start ups when it rains, it pours!
But beyond all this lies another ultimate truth, knowing when to quit. If your start up isn’t growing and scaling on, then it is time to stop and think. Prepare an exit plan ready. Calling it quits doesn’t necessarily mean you failed. There is great wisdom in knowing when to walk away…