When starting a startup or finding a way to execute your ideas, there’s always something or someone that will discourage you from moving it forward. But always remember that the best bet you can make is to invest in yourself. So, forget the naysayer—who cares what they think? Let’s break down the walls that stop us from pushing ourselves to be the best that we can be.
Dive in with me on this episode as I share my startup journey, The Success Finder.
The 3 Pitfalls keeping you from your first startup success
Pitfall Number 1: We talk about an idea one time and then we move on
Let me tell you, I have a lot of great ideas but I haven’t moved forward with 99% of them. It’s because when we wake up in the morning, reality sets in. In order to move forward with our idea, we need to invest time and money. We need to plan and process a lot of legal documents. As if those weren’t enough, there’s also the thoughts about failure, of taking risks, and caring about what other people think. All of those mixed together in a bag might just drive you insane and stop you right there. So, how do we now when we actually have something we really should and could move on with?
I believe the first thing you should do is surround yourself with the right people—masterminds, mentors, coaches, and the 3 C’s: cheerleaders, crabs, challengers. You want to make sure you surround yourself with people from all different walks of life. Don’t let anyone who challenges you, or tells you no, or even cheers for you stop you from starting your start-up.
The second thing you should do when you’re starting a start-up is to talk about it. When you’ve really settled on what you’re building, bring it to the Universe by talking about it.
I did not really know this before but by talking about our plans, we actually become better at some things. Our talk paths become cleaner. We get a clearer sense of what we’re building, and our grasp of what we’re actually going to solve becomes even stronger. The best part? When we get used to talking about our start-up, it actually makes a big difference when it’s time for us to make our first pitch.
Pitfall Number 2: JUST talking about it.
Though you need to talk about your start-up, just talking about it is not enough. You also need to do some test marketing before you actually invest in it.
After surrounding yourself with the right people and talking to them about your plans, it’s now time to do some test marketing. However, do it AWAY from your inner circle that you surrounded yourself with. This may sound illogical and maybe even silly but even though your inner circle could be very supportive of you, they may also not be the ones who you should ideally be selling to. They may not be the ones who will actually be purchasing what you’re trying to solve.
My advice? Surround yourself with the right people and allow them to support you. But also, don’t forget to also do your test marketing away from that inner circle.
Number 3: Having to be everything, everybody, the sole DRIVER
I’ve learned this time and time again: build on your strengths and hire your weaknesses. Yes, you need a team. You need to hire other people who are great in their respective fields.
I know what you’re going to say—it costs money. Well, try the Sweat Equity route. Of course, it may or may not work which leads to my next advice: invest in your own start-up. I know some people would prefer looking for other angel investors but if you are not willing to invest and use your own money to do this, why would someone else, in essence, pay you a salary to build your dream?
The other up side of investing in your own money? Down the road, you might have a bigger chance of getting other people, angel investors and venture capital firms, to actually invest in your business if they see that you’re not worried about paying your personal bills while you’re building your start-up. When things get really tough, angel investors and venture capital firms would not want to worry about their investment being used for personal bills and stuff. Surely, they would much rather invest in someone whom they know that they can trust to just keep on working harder and moving forward even if things get really tough.
At the end of this, you might have to borrow against credit lines, use your savings, and just take a chance. Remember, your best bet in life should be YOURSELF.
Where Are We on The Success Finder?
It started in March 2019. In an airport. At midnight. I started talking about it to people. I had some people that said “Hell, Yes!” “WTF?” and others who challenged me in what it would look like, and what it was going to do.
I started building my team—some on sweat equity, some paid out of my own pocket. I partnered with some smart people and some that over-promised.
I kept talking about it. I kept refining my talk paths. I encountered some crabs and challengers and people who asked me what I was building and what they can help with.
I started THIS podcast, the pebble in the pond, to help create real content for the Mountain in the Ocean, and that will be THE SUCCESS FINDER.
It’s going to change the face of education and help you find who you should be learning from. If you want to be one of the early adopters, e-mail me at firstname.lastname@example.org
“Make sure you invest in your startup and that you also do some test marketing away from [your] inner circle.” – Brandon Straza
“If you are not willing to invest and use your own money to do this, why [would] someone else in essence pay you a salary to build your dream?” – Brandon Straza
“The best bet in life should be yourself.” – Brandon Straza
You can connect with me on LinkedIn, Instagram, or send me an email at email@example.com. I’d love to get in touch and talk more about personal development and how you can move beyond your limits.