Building your own brand is the dream of most of the people in the world. Business with unique approach and idea pushes them towards that goal. However, bitter truth is that one cannot always shoot to the point at the first time, or worse, some initial times. On the contrary, the positive outcome of such failures is that you come to learn the intelligent lessons for the extraordinary life ahead for the stability in the business world.
Swayy, a startup was closed in 22 months after its launch in 2013. In 2015, the company was sold to SimilarWeb. This failure has given important lessons to its team, which are shared below.
- Keep the consistency of focus throughout the journey (till the end). You have to work under pressure, learn it along with performing well.
- You will get used to the financial insecurity that will be there for a long time.
- Meeting people is common when you hold a business. Whether you want to or not, communicate with them. They can have something that can help your business. Thus, meet everyone.
- You often hear ‘I don’t know’ that make you explore new things and eventually you gather much knowledge and information.
- Acquiring the art of smiling at messed up situations can help.
- A clear vision of the business is important, which you can show to people. Let them know what are you doing and what is the target.
Read Also: 3 Failure Lessons Before Owning Successful Business
- Save three wishes to present in front of Genie one day.
- Your office is your home and the co-founders become your family.
- Life comes only once; better not drain it wholly on a business idea. Invest in yourself, have hobbies and interests unrelated to your company.
- Forget about resting, but ensure that you don’t get burned out.
- Have a note on a timeline where your startup should be after 3, 6, 12 months from now. Towards achieving the goals, keep the things you will need.
- Analyze your time, money, and hard work investments by measuring your own work.
- Learn the methods to self-promote.
- Differentiate accurately between business functionality feedback and noise.
- Allow your business to grow naturally instead of pushing it upwards in comparison with other firms’ progress.
The Bottom Line
Not every startup achieve the anticipated mark in the journey. The most important thing is to never give up and implementing such learnings towards impeccable work and progress for upcoming adventures.