Resilience matters to achieve startup success, here's why...
There are many companies selling "snake oil" that promise you a startup success formula. Unsurprisingly, there is a huge demand for it, given that hundreds of thousands of companies are looking for shortcuts to achieve the perfect startup success story.
You might feel that things are moving slow in your company, that is more than natural. It is often in retrospect that consequences of our actions make sense. Business decisions are no exception. If you are an entrepreneur building a brand new startup, you probably have trouble seeing any light at the end of the tunnel from time to time. But a startup's success is not determined by how good the product is, startup success is defined by how far an entrepreneur is willing to go and wait to see its startup succeed.
Here's the deal, you have to be patient
If you are building your startup from scratch
, don't expect success overnight. I will share you a secret for success, and it is fairly simple. It all boils down to how resilient you are when it comes to success. Resilience should be part of your entrepreneurial DNA
and I will go further: this is the most important factor to avoid startup failure and embrace startup success
! Even if it sounds counter-intuitive at times, the secret is not to give up. Obviously, it is not possible for a lot of people to go on for years without making any money or profits, and feeding a business money, but it is the ones who do not give up on their adventures (at the cost of not being lucrative) that succeed. I know a lot of people can't afford to do this, and that is why many companies look for angel investors, accelerators or venture capitalists to fund their businesses. It is up to you to assess the risks and give it a shot.
Although there is no magic startup success formula, however, there are many real-life examples of businesses that only take off after 3 to 5 years. The internet is flooded with examples. Here's a list of a few companies and how long it took them to become an "overnight success".
Tesla Motors :
These big companies had their own ups and downs until they found success. The scale of the company isn't important, it is the resilience of the founders that lead these startups to succeed. Obviously, a startup has to control its spending, and have a real plan to become profitable.
Here are a few reasons why being resilient is an essential factor in startup success.