Founder Insight gives you feedback from the startup trenches.
If you are thinking about launching a company with the Founder Institute, check out Rafael’s tips for success. Below, a segment of Founder Institute – CEO of Ansquick shares his experiences has been republished;
"1. Starting a company is tough
Think twice before you get started - are you are really willing to do anything for your ambitions? Creating a startup is, frankly speaking, is not as romantic as it may seem. Before starting a project, take your time and think about whether or not you are willing to change your lifestyle, face uncertainties everyday, sleep fewer hours, etc. For some people, working for a larger company might be in your best interest (which is a respectable decision as well, of course).
2. Learn to listen to criticism, but do not let it bring you down
Be open to hearing that your idea does not work, and perhaps you should consider implementing some changes. Do not take criticism as something personal; take everything you have learned from feedback to improve your company.
3. Be humble and curious
One of the worst things entrepreneurs can do is be pretentious and egocentric. This is like condemning your project to fail. Smile and show a positive and friendly attitude.
4. The idea is 10% – execution 90%
Stop talking and start working on your idea to make it come alive. If you are not a programmer, there are tools to help you get started: buy a domain, open a blog, create a landing page and collect some leads. If you are not capable to execute, you are not going to be able to make your idea and dreams come true.
5. Create something that you would use
Does your product provide a solution? Would you use it? It not, you are probably headed in the wrong direction. You have to feel passion for what you do, and most importantly, the solution of your product must solve a current problem.
6. There are always competitors
If you say that your project does not have competitors or that it is entirely “unique”, you’ve probably failed to research the market. Identify your competitors and establish some innovative features that differentiate your company from them.
If you do not know how to do something, look for help. Make deals, exchanges, look for partners, and most importantly: BE CREATIVE!"
Ansquick helps you get your questions answered and keeps you on top of daily trends. They are a graduate of the Barcelona Founder Institute, which is currently accepting applications for the Winter 2013 Semester. Apply by the early application deadline (October 13) to qualify for Founder Institute Fellowships.