Starting a business from the ground up can be a daunting experience. Would-be entrepreneurs need to go out of their comfort zone and take on ambiguity, uncertainty, and the risk of failure.
In an article for Forbes.com, writer Tanya Prive notes that on the average, 9 out of 10 startups will go out of business. She then lists down 11 qualities of those that are able to survive and grow. Out of those 11, three have stood out.
A successful startup needs to be quick and responsive. Prive writes:
“Getting things done in a quick manner is one of the many reasons why startups are able to reach their goals and milestones. It makes a difference when a startup is able to launch on time or when it’s able to move much faster than competitors. Successful startups never delay the process of getting things done, and have to work as much as needed until something is complete.”
Go People quickly recognised and responded to a need: a 24/7 courier service that gives clients the power to choose when their parcels will be sent and the people they would want to entrust their parcels to. At the same time, Go People gave its parcel runners added earning power and the freedom to select jobs they want to complete.
A startup must also be able to adapt to change.
“The best startups are always willing to adapt to new technologies. Adapting to change can lead to major breakthroughs. During the early years, the startup will need to iterate the product plenty of times until they are able to find the secret sauce and get it right.”
Leveraging on mobile technology, clients can access Go People’s services through their tablet or smartphone. They could send packages on the go, with just a few swipes of their fingertips.
Finally, it will boil down to the proper execution.
“…having an idea is just the beginning and really, execution is 98% in determining each business’ success.”
Taking its cue from startups that have made it, Go People looked for an untapped opportunity, thought outside of the box, and developed a solution that’s innovative, functional, and empowering.
What do you think makes startups stand out? Tell us what you think in the comments section below.
Read the original article here! www.forbes.com/sites/tanyaprive/2013/03/29/top-11-reasons-startups-succeed