Most entrepreneurs will say that passion is at the very core of sustaining every new business. And although we couldn’t agree more that passion, motivation and will are one of the most pivotal characteristics for keeping a business alive, beginner entrepreneurs should have additional 5 significant characteristics in order to get a startup company on its feet and sustain it.

Abundant Patience

In the early stages of your business, it’s highly unlikely that everyone is going to know what you’re doing and be very open and supportive of it. With a little bit of luck your business idea is going to reach fame in no time, however, most of the time, you have to become friends with time that’s passing by. Patience is key to sustaining your startup. Take some time to stop and smell the roses. Just because your company isn’t evolving at the speed of lightening doesn’t mean it’s failing.

If you’re trying to build a brand that’s going to provide solutions to people’s everyday problems, and you’re trying to implement this solution into their lives, you have to accept the fact that it will take some time. You future fans and clients will probably take a while to embrace your new company, and in order to stand the test of time, you’re going to need a lot of patience.

Precise Focus

While it’s important to remain focused on your business goals and work on pushing your startup in the front rows of the industry, you should be focused primarily on customers. In other words, become customer obsessed. By all means, don’t become so obsessed that you’ll go about changing your brand and doing whatever it takes to please every single person. Stick to your vision, but keep your followers and clients in mind at all times.

How do they feel about your brand?

How can your unique vision help their lives?

Persuasive Communication Skills

The truth is that communication can either make or break your business, in several different ways. You may have a supervision, an authentic idea, and a business model that’s going to hold up no matter what, but if you’re not a good communicator as an entrepreneur and don’t know how to portray your company to others nobody is going to want to hear about your startup. You need to be able to practice communication and do it on the regular. Whether it’s inside of your company, communicating with your employee or partner, or outside of the company, pitching your ideas to third-parties, you’re going to have to learn to use words to get into people’s minds.

Envisioning

Now, you might be thinking, who starts a company without having a vision? Most entrepreneurs have some kind of a vision, but we’re talking about the kind that’s going to push you through the hardest of times because you can see so far, there’s no stopping until you get there. In order to sustain a startup, you need to have a vision, not just for the present or close future, but for the next 20 years. Once you reach your first set milestone, you shouldn’t just sit around and wait to see where the road will take you. Your vision should be your guide throughout the entire process, and once you reach each milestone you’re going to find it all familiar because you’ve envisioned it from the very beginning.

Cautious Management

No matter what you start off with, pennies or millions, you should be very careful when it comes to your assets. Startups are a gamble to a certain degree, but great leaders know how to spend and when to invest their money. They don’t waste a dime, and they know when they should invest millions when necessary. Get educated when it comes to finances and startups in order to avoid making bad financial decisions that will drive your business to the ground.

We consider these five characteristics predictors of future success. They might not always determine the outcome of your startup because there are various other factors to take into consideration, that might influence the sustainability of your business, and that might not always be in your control. But, these five traits are important to have in order to control the situations and aspects of your business that shouldn’t be left up to fate.

Do you have them and if not just yet, how do you plan on working on them? Tell us your startup’s story!

_____________________________

About the Author 

The following article was produced by Steve Feiner, founder of A Better Florist. A Better Florist is the provider of instant flowers in Southeast Asia. Leveraging the best in data analytics we are optimizing the customer buying experience, mastering just-in-time inventory management and streamlining operations. A Better Florist flowers are 30% cheaper, last longer and are delivered in 90 minutes guaranteed. see more.

Recently Published

Key Takeaway: Antarctica’s tiny invertebrates, such as mites, springtails, and tardigrades, have developed strategies to survive extreme cold conditions. These adaptations, known as freeze tolerance and avoidance, allow them to survive below zero temperatures without damage. These survival mechanisms could inform future innovations in areas such as organ preservation and materials engineering. Understanding how these […]

Top Picks

Key Takeaway: AI-powered mental health tools, such as chatbots and self-help apps, offer immediate emotional support to those in need. However, these tools cannot replace the complexity, depth, and ethical safeguards of human therapy, especially when dealing with serious mental health issues. AI lacks emotional understanding, cultural context, and real-time adaptability, which can be dangerous […]
Key Takeaway: The discovery of asteroid 2024 YR4 has reignited fears about cosmic threats, highlighting the need for a global planetary defense system. Political scientist Daniel Deudney warns that unchecked expansion into space, especially with geopolitical rivalries, could be a recipe for global disaster. The fear of space, its vastness, and existential indifference is deeply […]
Key Takeaway: John Harvey Kellogg, a controversial doctor, played a significant role in the development of the plant-based movement. He combined the Progressive Era with “biologic living” and established an experimental kitchen to develop alternatives to meat. In 1896, the U.S. Department of Agriculture asked Kellogg to create a plant-based protein that could rival meat […]
Key Takeaway: Research shows that some animals form surprising partnerships, challenging traditional views on how intelligence evolves in the animal kingdom. For example, Octavia and Finn, a day octopus and coral trout, work as a team, each bringing unique skills to the hunt. Other species have also developed remarkable partnerships, such as the greater honeyguide […]

Trending

I highly recommend reading the McKinsey Global Institute’s new report, “Reskilling China: Transforming The World’s Largest Workforce Into Lifelong Learners”, which focuses on the country’s biggest employment challenge, re-training its workforce and the adoption of practices such as lifelong learning to address the growing digital transformation of its productive fabric. How to transform the country […]

Join our Newsletter

Get our monthly recap with the latest news, articles and resources.

Login

Welcome to Empirics

We are glad you have decided to join our mission of gathering the collective knowledge of Asia!
Join Empirics