There are some very important factors to why some startups succeed and some startups fail and that is consistency and timing.
Consistency is very important because every company is always changing and things don’t always go smoothly so when something goes wrong they will try to figure out what happened and fix it.
Timing is more important because some issues will resolve themselves over time but sometimes they are more urgent and need to be addressed right away.
1. Consistency – a startup will always be changing and if it isn’t it will be changing soon. You should be able to count on the product, price, or service to be constant and reliable.
2. Paying attention to customer needs – you have to know your customers on a first name basis and keep track of their wants and needs and address them. In a startup you never know when something you do will be critical and the needs will be urgent. For instance I once worked with a company that was supposed to deliver a product by a certain deadline, but in reality it would ship in three weeks or three months. That was unacceptable to the customer so we had to get involved and it was an issue of timelines.
3. Follow through with commitments – no matter how strong a commitment you make, the customer will start to see something isn’t going to happen and will start to question that commitment. Never let a customer down and be sure you live up to your word. It isn’t worth it if you go home and your customers feel let down.
So now you understand the principles that you need to keep in mind when you are in the startup stage. Here are a few actions you can take and ask yourself if they are necessary and appropriate.
1. Can I be confident in my marketing and pricing, In my products and in my communication to the customer? What I’m selling should be better than anything else out there and it should cost less. Should it? Well it depends on what your competition is offering and how you are viewed in the marketplace. But you need to be clear about that before you get started. If you can’t be confident about what you are selling and how you are selling it then you probably shouldn’t be in the business.
2. Can I provide what I say I will deliver?
Can I be confident and honest about what I will deliver and not have to continually tell someone that I will deliver? Can I be sure that what I will deliver will happen?
It is all about having the right leadership skills to deal with people.
A leader that trusts them self to take responsibility and face the facts.
This approach is the only way a leader can truly understand that their influence has a direct impact on other people.
And that the most effective leadership develops their trust into a relationship with other people.
This relationship is tested when they have to continually tell someone that they will deliver.
This is the ultimate test of the trust.
For the relationship to be sustainable, the leader needs to be able to trust that the other party will perform what they promise.
This is very hard for most leaders to do.
When your business partner doesn’t deliver, then you find yourself out of business and in most cases, a lot of money and credit is lost.
So I have to point out that you should never rely on others to deliver for you.
One of the most important parts of a good leader is that they trust themselves to deliver for others.
If you trust yourself, then you can do what you promise to do.
Trust yourself and you will deliver to others.
The trust you build with your business partners will be translated into dollars and cents that will make all the difference.