How to run a successful start-up? #2 – Starting with the right purpose | Advanedu
What’s up guys? So you’re here to learn how to run a successful start-up, right? Congratulations and welcome to the entrepreneurs’ world. Now you can say that you have the gut of a real entrepreneur. Let’s begin discussing about how to run a successful start-up.
There are several points you need to consider when starting a business.
And in this episode, we’re gonna cover point number 1 – Starting with the right purpose.
For me, start-up is not about how many companies you can open. But it is about how much change you can make for the world, how many people you can help with your products and service.
If you think about start-up or business that way, you can come up with tons of great ideas and actually figure out the way to do it. On the other hand, I used to ask so many people about their purpose of starting a business. Many of them simply told me “to earn money, of course”.
Well, in my opinion, I don’t think that is a good idea to start a business. Please don’t get me wrong. I’ve never said a single word that money is not important. In fact, it is one of the main keys to keep your business moving forward. I myself take very good care of sale, revenue, benefit, cost number, etc. Otherwise, my company must go bankrupt a long time ago.
Money, revenue or sale are very important for business. In fact, you must run for sale as fast as you can. You must work day and night to earn as much money as you can. Otherwise, your company won’t survive for long. You won’t have enough money to hire the best people to work for you. Or you won’t have enough money to grow your business. So please don’t get me wrong at this point. I’m a finance guy, and more than any other people, I understand the importance of cash in business or how to manage risks, make great investments, keep things under control with low cost, etc. You bet we need to know a lot about all of those things unless you want to go bankrupt without understanding the reason.
What I mean about why money should never be the starting point is that money alone is not the element to give you strength, encouragement, and keep you on the road for a long term. Yes, money is very important, but it should never be the starting point. You need something much bigger than that. You dream. Your goal. And keep pursuing them. In this case, you don’t need to start with money purpose, but money will follow after you succeed.
There is a slight barrier in this philosophy to distinguish between success and failure. If you start a company with money purpose solely, there’s a big chance that you will fail. In addition, if you run a business without taking good care of money or don’t earn enough or a lot of money, you will also fail.
In the reality, people give up so easily because they don’t earn enough money during the first days of their business. Why? It’s so simple. Because their main goal for business is money. Hence, when they don’t earn enough money or can’t get money as fast as they want, they get bored and upset because they lose the purpose of running the business. Quitting is the best solution for them. Or they may easily say, “well, this type of business or industry is not good at all. The market is saturated. Or I’m not fit with this type of work. I should change to something else”. They give up easily and too soon before they can enjoy the taste of success.
In addition, if money happens to be your main goal of running business, every time you lose money due to silly decisions, crazy market fluctuation or scams, etc, and you bet these situations happen daily in your life and business, you will absolutely be depressed, upset, miserable because things do not turn out your way. Regularly, they don’t, and you know that. So your next move would be giving up.
On the other hand, if you start your business with a great purpose besides money, you have more chance of success. Why?
It is very clear that during the first days of your business or most of businesses, we don’t have so many customers or enough customers. That happens to most businesses in the world. In fact, most of businesses suffer significantly from the beginning. It takes a long time, from 3 to 5 years, before people get noticed about your company or your products. The questions at that time should be how we can manage and survive, and then grow. Normally, start-ups pretty much suffer neglect, disrespect, misunderstanding or scare from the society or the market. This can happen quite a long time depending on how good you are in term of quality, marketing, sale, etc.
Hence, the question is whether you have enough strength to survive through those tough days, months, or even years. What will bring you up, keep you strong and push you forward? Could it be money? I guess not. Remember you suffer most of the starting days. So you bet you don’t earn much money at that time. If the only thing in the world you care about is money, you will quit for sure and leave your dream for someone else to take care and continue.
Thinking about money in these situations only brings despair, upset and so much stress. At this moment, I believe, only your clear purpose, goal and dream are the things which can keep you on the game. Every time you fall down, just think about the reason why you start the business. You can think about the great things you want to do for the world, for people. You want to make a change. You want to do something even small or big for the world, for your family, your children, your friends, for all of those you love. Those will give you strength, encouragement, and motivation to go forward.
NO need to care about whether your business or your dream are big or small. It doesn’t matter. Don’t worry so much if your business is not big enough or if your dream is not big enough. As long as it has a purpose. As long as it serves and helps people around you, especially, those you love. I believe you will have more than enough strength, energy, enthusiasm and wisdom to start, run and become successful with your business no matter it is big or small.
Whatever I’m telling you right now is exactly what I’m doing. I will never say anything that I never do. I have started my business with my own saving. I dream big, but start small. During the first few months of my business, I only got a few customers. However, I still believe in my dream and my goal. I work so hard to pursue it. After 3 years, my company becomes stronger and stronger. Now we have enough money to invest more and make the next moves.
My dream is to help all people in the world to have the best education they deserve. I eager to see my children and grand grand children to use the e-learning website, Advanedu.com, I’m building and learn whatever they want, at any time they want. I plan to put all the useful things and courses there for them. All they need to do is just one click and then they can absorb all the world’s knowledge. That’s my dream and I’m pursuing it every day.
I strongly believe value is the core of all businesses. So just make sure that you put the right thing into that core value. Break your limit. Success is always there.
If you want to see more of this, please click the button below to subscribe, or if you want to give me your own advices or your own tips, please leave the comments below as well. I’m John Carnegie from Advanedu.com. Thank you very much for watching. See you next week.
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