Drive, creativity, passion, and connecting with people are the new advantages in online brand building, as opposed to just big budget advertising. There is a barrage of new entrepreneurs that have blasted into the picture, projecting their overnight success stories with books, services, and products. One thing missing in what appears to be instant success is the need for patience.
There is no such thing as an overnight success. Progress typically takes between six and 10 years, assuming the business survives the first three. The real key to success stems from coming up with a better idea, putting hard work and effort into positioning it in the market, finding the best resources, and developing a competitive edge.
TIPS FOR EMBRACING PATIENCE
• Commit to your solution and continuously improve it to stay ahead of the future competitors. No matter what the idea, expect to face a lot of competitors.
• Effective positioning. Making sales is the turning point for most start-ups. That requires a better idea and positioning it in the market effectively. Ideas are the first step to any exceptional innovation.
• Discovering resources. The right resources depend on your goals. With so many outsourcing opportunities in today’s world, many businesses don’t require significant infrastructure. Find the right resources for your idea, not for a pre-determined scenario.
GETTING INTO IT
Working hard. The first year is about the dream. Expectations are low, and mistakes are cheap. Success at this point is all about taking risks and maintaining curiosity. Look for talent who are seeking jobs in a non-traditional environment and lead differently as the team grows. Early failures are beneficial because they create the need to re-tool, which ends up increasing the chances of success over time. Catastrophes can hit when you’re nearing success and are tempted to keep going instead of stopping or retooling.
Building a successful business takes more than just passion, and there is no particular recipe to catapult your business from uncertainty to success overnight. Profitable businesses require an action plan, focus, training, and time to avoid repeating mistakes. They also need a unique and robust strategy alongside the best teams committed to hard work over time, including the ability to accommodate new challenges and opportunities as they arise.
BEST PRACTICES FOR SUCCESS
Our society glorifies those who rise from vagueness to stardom, although most cases of overnight success have been in the ring for many years, working hard to navigate their respective industries before landing on top. Either a business works, or it fails. Keep going and evolving. Remember, you’re still a start-up, working toward that overnight success several years in the making. If it isn’t working, start again with an even better idea, position it more favorably, and find other resources, but be prepared to work even harder the second time around.