Any seasoned entrepreneur knows that success does not happen overnight. For many, it takes years of effort – and often failures – to get a business off the ground.
We asked our readers, the entrepreneurs and startups amongst us, how they handled failure, and what they did to turn their business around.
You replied using the hash tag #CNNStartUpHelp, and from your responses, five main themes stood out:
Perserverance and a positive attitude go a long way
Whatever happens, keep going. “From my experience, having faith in your product is the most important part since a lot of negativity will come along the way,” tweeted @axmedjama.
And remember, failure can be one of the best motivators.
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It takes a community – be mindful
Any flourishing startup will know it’s not all about “me, me, me.” Often the most successful businesses are those which come from thinking about what others need, and having a genuine desire to help. Seek to give back, and often more success will come your way.
And once you do have customers, don’t forget about keeping them happy.
Teamwork and collaborations are key
Most successful start-ups involve more than one person. Lean on those around you for ideas and collaboration, and try and build the best team you can.
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Knowledge is power
Know the ins and outs of your market and get your hands on as much training possible before you launch.
And once you are up and running, don’t forget to keep educating yourself, adds @HeseyInspired.
Get your finances in order
Sometimes, even when it seems your funding is ready to go, things can dissolve and disappear overnight. Make sure you have a back-up plan, or seek a partnership that can alleviate the initial financial strain.
And sometimes, taking a step away is the best in order to get your finances on track.
Got any more tips for budding entrepreneurs? Use #CNNStartupHelp and carry on the conversation.