9 Things I Learned From A Startup Founder

There are plenty of things you can learn from a startup founder. They know all about ideas, execution, trying, failing, and trying again. An entrepreneur learns and grows through trial and error, but sometimes you can learn from fellow kin alike. And when others are kind enough to share their knowledge, we should sit down, open up our notebooks, get a pen in your hand, and listen.

The below mentioned valuable gems of knowledge have been obtained by listening to a talk by the founder of Raw Pressery, Anuj Rakyan.

The product should be the heart of the business

No matter what your venture is. Do not ever compromise on the product to suit other circumstances. Instead, change the surroundings to match with the product. If you don’t have authenticity, you don’t have anything.

Know why you are doing what you are doing

There will be so many instances when others will doubt you or laugh at you. In such times, you have to believe in yourself and your philosophy; keep doing what you’re doing, and do it better.

Products are best priced on a cost-plus basis

While pricing the product, you obviously have to make a profit. But, you also have to keep in mind the ‘perceived value’ to ensure that you aren’t overpricing it. ‘Perceived value’ is what others think your product is worth, you can figure this out by taking surveys and doing some market research.

Money is extremely important

No matter what you do, your goal could be to make profits or to expand your business but make sure you are getting enough to keep your business running and keep everyone happy.

It’s okay to be frugal with money when it comes to yourself, but don’t do that with your business

You might need to cut down on some expenses at times, but to the best of your capabilities, try not to cut down on necessary expenses, like hiring professionals and investing in good technology.

The more you do on your own, the better you can direct and lead your team

Whatever it might be, designing, web development, sales, etc. it’s important to always know how to do it. No matter how basic your knowledge might be, you should always be able to help out your team when they need it.

Starting a business is complex and tricky and really difficult. That is why it’s important to keep everything else simple; from processes, marketing, strategy, etc. Don’t over complicate things. The simpler you make everything, the easier it will be to execute it, not only for you but also your employees.

No business is easy, however simple it may sound

While ideating, the concept of the business might sound simple, but it never is in reality. Thinking is easy, executing those thoughts is tough. Not everyone can manage it, that is why most businesses fail in the first few months.

Create and maintain good relations with all stakeholders

A stakeholder is anyone who has an interest in your business, be it your investors, clients, employees, competitors, etc. No matter who they are, it is important to keep good relations with them. If everyone is making money, everyone is happy.

Maintain good relations with your customers

Make them feel like you genuinely value them, and their opinion. Talking to them regularly and getting their feedback will not only help you better your product/service but you will also build a reputation as a company that cares about their customers.

There will be plenty of opportunities that you might miss out on, but don’t spend your time worrying about those, the market is very big, and another opportunity will come along soon.

As long as you’re productive, you’re going ahead.

By- Shreya Alhawat