This is a guest blog post by Ivan Serrano.
Are you deciding to begin a start-up?
Want to know what to expect? What competition awaits you? What to do and what not to do?
Well then, you’re probably familiar with the hit ABC TV show, Shark Tank, where new businesses and start-ups propose their start-up ideas to a group of successful high-powered business people (or, as they’re known on the show, “Sharks”).
Watching the show is a good idea for any potential start-ups. It’s a wealth of information as to what to expect, what you should know when meeting investors, and what enterprises have worked and what ones haven’t and why.
Except, I’m sure you know, the real world isn’t quite the same as the Shark Tank.
In the real world, there are no ABC hit show cameras on you.
There are no top entrepreneurs that are giving away free advice on what you’re doing wrong and what you’re doing right.
In the real world things are just as brutal, and it’s even more competitive. And you don’t have anyone looking over your shoulder making sure that you’re on the right track.
The scary thing is, 3 out of 4 start-ups fail.
Well, the majority of startups fail from the get-go due to poor planning and lack of a solid business plan.
This isn’t news.
Not only does your idea have to be strong enough to compete with the big shark companies who have been swimming in the water for a long time, but you also have to compete against other startups trying to outdo you.
It’s easy to get discouraged, but just remember: Steve Jobs began in his parents’ garage.
If you want your startup to succeed, it’s important to know the basic how to’s of business:
- How to stay alive
- How to stay afloat
- How to keep sailing
It’s tough for startups in the beginning, but don’t despair too much just yet.
I’ve come up with some tips that will have you sailing the open waters, safe and happy and maybe even taking to the global seas if you’re lucky enough!
I hope this has helped prepare you for the next big step: Beginning your start-up.
Love our Shark Tank infographic? Please feel free to share it with others!
Oh, and if you have any thoughts, don’t forget to share those with us too!