The Shark Tank: Formula for Start-Up Success
But let’s not forget – the secret formula to success has only ever been: be ready to try and fail again. Let’s not forget, Steve Jobs started his company in the back of his parents’ garage; Gates dropped out of Harvard. Everyone who wants to be successful has to get used to the idea of failure, especially for companies who are going into the start-up world.
It’s not any major secret that the majority of startups fail in the beginning. Even if your startup has a good idea, you have to remember that you are competing with more than just a market - you are entering the big waters, the shark tank, where there are a lot of bigger, meaner sharks who have been in the business a lot longer than you have. It will take more than luck, too, to get your company started (though a little luck never hurt anyone). Starting a successful start-up has requirements – patience and willingness to be flexible – but it also has, or can be, very worth your while.
Don’t be discouraged just because you are the baby shark in the new tank. (Oh, and it’s no longer a tank but an ocean where the only rules of the game are the legal ones…) But don’t be discouraged by all the bigger, stronger, older (but not wiser) fish out there; remember, they once were baby sharks too who had to compete against the big sharks of the ocean. Here are some important pointers to bear in mind, however, that will help your young startup stay afloat: