Embarking on the thrilling journey of launching your own startup? Buckle up, because in this blog series, we’re diving deep into the dynamic world of entrepreneurship. We are bringing you some valuable advice on starting your own business from our guest lecturers who themselves have gone through the same path you are on.
It’s never been a better time to start a company because you have so many opportunities nowadays! So, don’t wait and brace yourself for a rollercoaster of startup tips, where actionable advice meets real-world experiences. Let’s navigate the entrepreneurial landscape together and turn your startup dreams into a reality.
1. Get into something you enjoy doing
Captain Dan Baz started his career in airline industry, working as a pilot instructor at Air Canada. As many other entrepreneurs, he switched his career, now into the marine industry, and currently involved with Yankee Lady Yacht Charters. One of the many advices he shared with us is getting into something you enjoy doing. Since you will spend months perfecting your startup idea, you need to be happy and enjoy what you are doing! Yes, it is a lot of hard work, but the success is going to come after!
The second most important thing to Captain Baz is to get involved with the associations in the industry, as well as meeting new people! Networking in business is really important because people are the most valuable resource. Someone can help you generate business leads, you can learn industry standards from a person you’ve met at a conference or someone can even help you develop the confidence.
Daryl Hemingway is an entrepreneur, rocket scientist and filmmaker. He studied aerospace engineering at MIT and after he worked at NASA for many years doing astronaut training and mission control. In 2021, Daryl founded Skydome – the fan engagement platform and sports loyalty program that rewards fans for watching, participating in and engaging with live sports.
Daryl emphasizes the crucial role of passion in launching a business. According to him, maintaining daily motivation and remembering the purpose is essential. Despite the challenging journey, the rewards make it worthwhile!
3. Keep asking questions
Toussaint Xavier is a corporate business strategy executive, entrepreneur, business advisor and an educator. He has over 15 years of experience in strategic consulting and corporate development, working with CEOs and leadership teams of large companies across a diverse set of industries.
Maybe this tip is not the first one that comes to mind when you are thinking about starting your own business. But, trust us! Asking questions like ‘Why are we doing it as it is now?’, ‘Why is it that we are having problems?’, ‘Why is it that certain ideas are not working?’ is truly important! Not only you will get to that answer, but it will also help you find new ways of thinking and you will remember things that may not have occurred to you at all at first thought!
The second most important thing for Toussaint is being kind! You never know who the other person is. Maybe the people you meet one day will be able to help you reach your goal or a business opportunity and even open the doors to particular companies. The person you encounter at the coffee shop might be the CEO of the company you are interested in!
4. Try different things out
Antony Upward is a collaborative business designer, innovator, strategist, author, and professor with more than 30 years of professional management consulting experience and 20 years of teaching and research.
According to Mr. Upward, when starting your own business, you have to try different things out first. Spend as little time and as little effort as you can on that attempt to do it. Learn as much as you can from it, and then figure out where you want to invest next. Don’t invest all at once – don’t invest all your time and all your money. Try little things out and build on the successes that you’ll have.
5. Build a strong network
Matt Hawksley was an executive in the supply chain & logistics industry for over 20 years, and has been coaching and mentoring since the beginning of his career. He is the founder of Leadogo – social learning network that unites a diverse global community committed to driving positive change, fostering mutual support in personal, societal, or organizational development journeys.
It is crucial for Matt, when starting your own business, to reach out to people. In his words, there are many different applications and opportunities nowadays to connect with individuals! Sometimes approaching someone is not always easy, but if you keep a lens that it’s just one learning experience and you can learn one thing from every single person, it becomes that much easier. Building a strong network and alliances can help you in the future!
Starting your own business can take time, effort and perseverance. Once you get into something you enjoy, maintain your daily motivation, keep asking questions, try different things out and build a strong network! If you only take these five tips as a guiding thought today, you are that much closer to achieving your goals!