13 Things To Know Before You Launch A Startup

Before you quit your job and launch a business, here are 13 things you should keep in mind

Authority Magazine
Dec 3, 2018 · 5 min read
Image for post
Image for post

Have dreams of starting a business?

Well before you quit your job and launch a business, here are 13 ideas, shared from 13 accomplished founders, that you should first consider.

Sleep

Image for post
Image for post

You’ll never get a full night’s sleep again — there is no time to sleep, emails come in at all hours of the day and the phone starts ringing at 9am sharp. — Rashidah De Vore

Rollercoaster

Image for post
Image for post

Get ready for the rollercoaster ride of a lifetime. In the startup world, you have massive highs and deep lows. It is all part and parcel of the epic ride of having a startup. Some weeks, we will have great success in achieving our sales and development milestones, other weeks everything will just go south very fast. Prepare for the unexpected, and then some. — Barry Oberholzer

Blinded

Image for post
Image for post

Don’t be blinded from big fund money — Ran Poliakine

Patience

Image for post
Image for post

It won’t happen overnight. Patience is the secret sauce for innovation. When we developed our high efficiency transcoding solution, we were certain customers would flock to our service based on the affordable costs and time savings. We found out the hard way that raising awareness for a new technology is a massive effort and requires significant investment and effort to get the word out. It helps having many satisfied customers that love your product and tell their friends and family about it, but that takes time. It doesn’t happen overnight. It’s a slowly compounding process of trust building that creates a powerful and hopefully, lasting momentum over time. — Murad Mordukhay

Love

Image for post
Image for post

Love — Love isn’t a cheesy word. It’s a necessary part of human existence/performance. Build a culture where the employees love their company, their coworkers and their stake holders (consumers/clients/etc.)- Gabriel Krajicek

Empower your employees

Image for post
Image for post

Empower your employees. Continually give them more tasks as they continue to improve, and always provide them with the resources they need to be successful. Since our clients are located globally, Bx3 allows all of its employees to work from wherever they would like in the world. We also provide unlimited vacation time, which promotes responsibility and trustworthiness with our employees. People are much more productive when they are free to manage themselves. — Kyle Asman

Be genuine

Image for post
Image for post

Be genuine. People want to hear information in a straightforward way. It can be easy to put on rose-colored glasses when delivering difficult information or to speak in sales-mode when trying to get buy-in on an idea, but authenticity is far more effective.- Charles Sansbury

Trust

Image for post
Image for post

You should focus on taking a team from good to great by creating a high level of trust. When you achieve that, you can make faster decisions and challenge one another to do better. When there’s trust between a team, employees no longer think there are alternative motives.- Jim Kavanaugh

Don’t try to do too much

Image for post
Image for post

Don’t try to do too much — Mike Smithwick

Relationships

Image for post
Image for post

It’s all about relationships — This is something that I have learnt over the years. A good product or a service is of course essential for your success. But relationships are probably the most important things that one should work on. A good, healthy relationship with your team, clients and consumers improves the quality of your products and services and makes business much more enjoyable and meaningful. -Abhii Dabas

Permission

Image for post
Image for post

Beg forgiveness, don’t ask permission.- David Levine

Customers

Image for post
Image for post

Go and ask your customers what they really think about your apps — People with disabilities and their families are incredibly generous with their time and thoughts about our apps. Even those who are in the last few months of their lives will still suggest updates, explaining that it won’t help them, but will be great for whoever comes along after they’ve gone.- Rebecca Bright

Enjoy

Image for post
Image for post

If you’re not enjoying what you are doing for long periods of time, then it’s time to make a change. I was at my previous company for over 10 years. It was my entrepreneurial baby. Over the years, the capital structure had shifted, and the business model was such that external factors could cause intense instability at the drop of a hat. That creative, entrepreneurial spirit that had fueled me began to dwindle. I slowly came to the realization that I was no longer able to create in my role as CEO. I wasn’t able to give my best, and they weren’t able to get the best out of me. Leaving my former company was very hard — but it was also one of the best decisions I’ve ever made. I’m now at the helm of an incredibly exciting AI startup. I’m back to my entrepreneurial roots. Don’t live in known anguish for fear of the unknown. -David Karandish

Image for post
Image for post

Authority Magazine

Leadership Lessons from Authorities in Business, Film…

Authority Magazine

Written by

Authority Magazine is devoted to sharing interesting feature interviews of people who are authorities in Business, Film, Sports and Tech.

Authority Magazine

Leadership Lessons from Authorities in Business, Film, Sports and Tech. Authority Mag is devoted primarily to sharing interesting feature interviews of people who are authorities in their industry. We use interviews to draw out stories that are both empowering and actionable.

Authority Magazine

Written by

Authority Magazine is devoted to sharing interesting feature interviews of people who are authorities in Business, Film, Sports and Tech.

Authority Magazine

Leadership Lessons from Authorities in Business, Film, Sports and Tech. Authority Mag is devoted primarily to sharing interesting feature interviews of people who are authorities in their industry. We use interviews to draw out stories that are both empowering and actionable.

Welcome to a place where words matter. On Medium, smart voices and original ideas take center stage - with no ads in sight. Watch

Follow all the topics you care about, and we’ll deliver the best stories for you to your homepage and inbox. Explore

Get unlimited access to the best stories on Medium — and support writers while you’re at it. Just $5/month. Upgrade

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store