50 tips for starting your own company

Today we do the next ten steps of starting your own business. We hope you are really learning lots from this piece.

21. A patent can wait.

Patents can cost thousands of dollars. Wait to pursue this route until you have a few customers paying the bills. A patent is less useful if you can’t enforce it or have the money to see it through.

22. Be flexible.

Chances are that your original idea will have to be modified. Being able to pivot and adapt to create what customers want will determine if your business will fail or succeed.

23. Share your ideas with friends and family.

Your nearest and dearest will most likely be the most honest with you about your business. Don’t hesitate to seek their advice and suggestions.

24. Ignore the naysayers.

At the same time, there’s a difference between constructive criticism and someone’s quick jab projecting that your business will fail. Follow the example of French Internet mogul Xavier Niel and ignore them.

Related: When Angel Investors Reject Your Plan

25. Don’t become angry.

If your idea is rejected by customers or investors, don’t just succumb to anger. Find out what they didn’t like, make adjustments and go back to them when you’ve made the changes. There’s the possibility that the timing was wrong as well.

26. Deliver the product or service fast.

Your business is a work in progress and if you launch your product or service quickly, you will be able to build a community of customers who can provide valuable feedback that can help you improve the offerings. In the words of LinkedIn founder Reid Hoffman, “If you’re not embarrassed by your first product release, you’ve released too late

27. Offer new products or services.

If you already have customers, be sure to hold on to them by providing new products or services.

28. Be patient.

Always keep in mind that success won’t happen overnight. It’s going to take some time before you make a profit.

29. Overdeliver at first.

Once you land a new client, be sure to go above and beyond the call of duty for at least the first month. You’ll have this customer hooked from then on.

 

30. Blog all the time.

Don’t be ashamed to share both your triumphs and struggles. Customers will enjoy your honesty.

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