If you’re in the world of business, especially related to startups, you might have heard the phrase “startup mindset” or even the “startup advantage.” Most people believe that if you want to be successful at business nowadays, you need to adopt this startup mindset for yoursef.
However, what exactly does this mean? How is it different from an entrepreneurial mindset?
While this particular mindset isn’t always one-size-fits-all, there are definitely advantages for anyone hoping to make it in today’s competitive startup world. Here’s everything you need to know about the startup mindset.
Why Are Startups so Powerful?
In the past, big-name businesses were the ones that got the most notice. While this is true today, technology enables startups in all types of new ways. Many of the biggest names in the business (YouTube, Tumblr, Instagram…) all started as startups.
What might have started as a solo operation or a small team has grown into some of the wealthiest people or the best-known companies in the world. But this didn’t happen overnight.
Today, startups are so powerful because the sky truly is the limit. They don’t need millions of dollars in financial backing or a big-name company behind them. They don’t even need a large team in-house. It’s all about positioning yourself as the leader and the innovator, and that’s where the startup mindset comes in.
1. Selling First
While it might sound counterintuitive, it’s important for startups to know they have something that people actually want to buy. Spending too much time perfecting a product or service isn’t always efficient, especially if there’s nobody prepared to pay for it.
Instead, minimize business risk by selling first and building later. With presales and early excitement, it’s easier for startups to build in response to the real demand.
2. Delegate When Needed
Startup leaders know they can’t do it all. While it might seem like you need to stay as lean as possible, your time is also valuable. Delagating to skilled experts when needed actually saves time and money in the long run.
Startup leaders need to do what they do best: lead. That might mean someone else takes over accounting or admin duties. Know what’s most important to you and focus on that. Delegate the rest.
3. Act Fast
Startups didn’t succeed by taking their sweet time to make decisions. One of the best signs of a strong leader is knowing how to analzye all of the available information and act quickly.
While it might make sense to wait, indecision sinks ships. Failing to take action quickly has killed endless businesses before, and it has no place in the startup world.
4. Fake It Till You Make It
Confidence doesn’t always come easily. Sometimes it needs to be learned, and that means faking it till you make it.
When you’re first starting a new business, not everyone will believe in you. It’s up to you to believe in yourself. However, in order to get people on your team, you need to speak and act with confidence. Show the world that you’re worth believing in, even if you’re not always sure what you’re doing.
5. Stay Accountable
When you’re in charge of a startup, you need to stay accountable. If things don’t go according to plan, own up to it. You will make mistakes along the way.
It’s okay if things go wrong. It’s okay to fail.
But it’s not okay to blame others or to avoid being responsible. While it’s important to rely on others when needed, it’s also vital that you know how to take control. Only by taking accountability can you create real solutions.
6. Be Humble
Finally, startup leaders are humble. They don’t fall into the pride trap. They’re proud of their accomplishments, but they know they have a long way to. They’re open to learning from those with more experience, and they don’t talk down to others.
Keeping your business free from pride and arrogance isn’t always easy, especially if you run into a lot of positive attention. In order to stay resilient and centered, you need to practice humility in all things.
Startup Mindset: Become a Leader
To be a leader means to understand the startup mindset. This doesn’t end once your business picks up momentum. It’s something you hold onto throughout the life of your business and beyond.
No matter where you’re at in your startup journey, give close thought to these mindset characteristics above. Becoming a leader is a lifelong challenge about growth, humility, and understanding. Are you ready for the challenge?