PODCAST - Blueprint for Success – Young Startups by Dr. Celeste Fabrie
This podcast is dedicated to you if you are thinking of starting your own startup company. Great advice for Generations y and z!
I will be giving you an overview of the most important dos and donts of the business as well as giving you some good advice.
• But first of all let us define what a Blueprint for Success really means.
1. Let us focus on the word „Blueprint“ According to the Cambridge Dictionary a blueprint is a (PLAN FOR the FUTURE) or a complete plan that explains how to do or develop something:
2. Very concise. But what does success mean? Cambridge says I quote: the achieving of desired results, or someone or something that achieves positive results.
Now it becomes even more challengeable:
• What does „Start Up“ mean?
According to Cambridge: The term startup refers to a company in the first stages of operations. Startups are founded by one or more entrepreneurs who want to develop a product or service for which they believe there is demand.
Generations y, and z are the focus of our discussion today.
We will begin with the term Startup.
Startup became a popular term in the 1990s and early 2000s business boom with brands like Microsoft or Apple scaling up at a faster pace than ever seen before. Thus, it's also safe to assume that the first startups were the Silicon Valley companies,
Startups encounter several unique options for funding. ... Venture capital firms and angel investors may help startup companies begin operations, exchanging cash for an equity stake. In practice though, many startups are initially funded by the founders themselves.
We have a lot of digital natives out there who want to be no 1 in the business with their new creative and innovative ideas: For many of you the quicker the better. But this is where the problem often lies as the solid ground work stages are not taken care of. It is like a baby must suddently learn to walk before it even goes through the crawling developmental phase.
Now let us do this little test. There are 20 Questions.
Can you identify with some of these obstacles re your start-up or young business?
Just tick the box mentally if this applies to you. (You can check the questions later as well underneath the youtube video description).
1. Do you have a vision?
2. Are you a creative person?
3. Do you have think out of the box mentality?
4. Are you a clear communicator?
5. Have you Lost Focus on Primary Goal?
6. Do you have a Poor or Slow Execution?
7. Is there a Lack of Customer-stakeholders Engagement?
8. Do you experience Poor Teamwork?
9. Do you have a trusted mentor or coach?
10. Is there a High Employee Turnover Rate?
11. Do you have a Lack of Adaptability?
12. Have you a poor or No New Product Development?
13. Do you have Leadership ability and a clear goal?
14. Do you have An established, compelling company culture?
15. Do you have a strong Willingness to hear feedback?
16. Do you lack an adequate business plan?
17. Have you solid funding support?
18. Are you able to realize your goals within 3 years?
19. Have you got a good medical plan?
20. Are you ready for change when things go wrong?
Now if you have answered yes to more than 50 % of these questions then you are in serious trouble.
This ist he time when we have to recalculate our strategy.
There is a marvellous saying from Schwarzenegger himself which I would like to share with you:
“To be successful, however, you must be brutal with yourself and focus on the flaws.”
Now let us focus on those flaws why things are not turning out the way they should.
1.) Here come the dont’s - Why do most startups fail?
According to business owners, reasons for failure include money running out, being in the wrong market, a lack of research, bad partnerships, ineffective marketing, and not being an expert in the industry. Ways to avoid failing include setting goals, accurate research, loving the work, and not quitting.
The main Reasons for F