Keys to Startup Success
The Cheat Sheet to Win at Any Startup
San Francisco is the capital of startups. One day I will create a company, so now, I am seeking to learn as much as I can from the massive number of startups that surround me.
One way that I have been learning is by attending pitch events. These pitch events are great because you are immersing yourself directly into the startup community. At these events, startups come to pitch their ventures in front of an audience, investors, and judges; they do it in hopes of creating more brand recognition, searching for another team member, or getting funding. These pitch events have taught me many lessons, 3 of which I want to share with you.
Lesson 1: Be Passionate
To increase one’s chances for success in a startup, one must be passionate. Creating a startup will involve long hours of working, sacrificing things in your life, facing failure, and going through a roller coaster ride of ups and downs. Because of all this, you must be passionate about what you are doing, or else you face the risk of buckling under the pressure. If you are passionate about something, you are willing to continue working at it no matter how many times you fail or are told you are not good enough.
Passion is what sets successful entrepreneurs apart from those who fail. Passion makes any listener like the entrepreneur more and want to root for him/her in their startup journey.
Lesson 2: Be a Good Storyteller
Another key facet to succeed is the art of storytelling. You may have the greatest startup idea that the world has ever seen, but if you cannot effectively communicate that to other people, you will fail. Storytelling is vital to any entrepreneur’s success. As an entrepreneur, you need to convince people that you are worth listening to. To do this, you need to express the value which you are bringing to them. One of my favorite quotes comes from a wise man named Chuck Goldstone. He says, “Why do you deserve to be in the cosmos?” Think about this to yourself. Why do you deserve to be listened to? Why should I use my time or money on you? A great storyteller can explain to you why he/she is worth listening to. A great storyteller pulls you into their mission and gets you excited about what they are doing. Being a good storyteller can slingshot you onto a path of success.
Lesson 3: Team is Everything
Lastly, the team is everything. In a startup, you will be working long, grueling hours. You will be under large amounts of stress and anxiety. You will also be working with your fellow co-founders and co-workers very often. If you do not get a team that is determined and invested in your mission, you risk your entire company crumbling.
Many VCs say that the team is more important than the idea of the startup. Let that sink in. If you put together a great team of individuals, you are destined for success.
Thank you to Pitchforce for hosting such an amazing event last week. I appreciate the opportunity to meet and learn from startups and other amazing, motivated individuals. Thank you to Chuck Goldstone for providing insight into the art of storytelling, I am constantly looking to improve this art, and I appreciate your help.
*Originally published February 26, 2020
