From Startup to Success.
From Startup to Success:
One idea, One plan, One goal.
Startups are booming like never before. The numbers are increasing every year, and the fact that many new ventures are prone to failure has not stopped the entrepreneurs to join in and launch their own startups.
The definition of ‘From Startup to Success: One Idea, One Plan, One Goal.’
There have been countless discussions and debates on startups, the pros and cons of investing in one, and whether or not they are helping the economy. Taking risks in an economical climate that is never constant can either make or break your financial stability and credibility as a company and entrepreneur. Despite the increasing numbers of startups, there is a higher percentage of failures than of successes—approximately nine out of ten fail.
That being said, there are many a few reasons why some are convinced startups are worth the investment, regardless of the potential risks. 5 reasons you should consider investing in a startup, “if you’re taking on risk, better maximize the return potential and always diversify”. It’s a small risk that will not bring harm to you as an entrepreneur and investor, but should the startup succeed, it all would have been worth it.
We often forget that some of the most popular companies were at one point startups. Many experience failure but some do not.
Uber has become one of the most rapidly increasing companies, one that is impacting the taxi/transportation system all across the globe. It has revolutionized the idea of taxis and allowed for high-quality experiences for every customer. As opposed to taxi drivers, we are given the luxury of having our own personal drivers for a trip. Uber’s success is courtesy to social media and their unique business model. Instead of creating a completely different and foreign plan, the company revised and customized an existing idea: re-vamping taxi experiences.
Fashion has always been popular and successful, but it usually came with a cost. Incorporating and following new seasonal trends is not only financially problematic but also unreasonable for the average middle-class individual. In order to participate in new fashion trends, one must be prepared for a terrifying and heart-breaking credit bill. Sometimes important events require formal attire such as matric balls , galas, and fundraisers. In a perfect world, constantly re-wearing a dress or suit would be socially acceptable. However, most of the time, appearing in the same attire twice is cutting it close in the fashion world.
Outfit repeats are to be avoided at all costs. With high profile events comes the necessity of wearing designer brands, which the average Joe cannot afford. One of the newer yet highly successful companies is Rent the Runway. In 2009, the company introduced fashionistas and individuals who were on low-cut budgets to experience the world of designer brands at a fraction of the original cost. Rent the Runway has allowed many young women and men to dress at their best without committing to spending hundreds and thousands of dollars, and renting them instead. Because, let’s be honest ladies, who has actually worn their matric ball dresses, bridesmaid dresses and other formal attires more than once?
Definitely not the majority. Since their launching in 2009, the company has grown tremendously—with more than four million members—and having more than 50, 000 designer dresses in their inventory. It is no surprise that the company that was once a startup has risen to great success and fame due to their revolutionary business model and original idea
Although startups are at higher risks of failure than other companies, the fact that one original idea, one unique and revolutionary business model, and a dash of luck can change the fate of the company, must not be forgotten. Success comes with hard work, faith and an original yet innovative concept. No one said that the road to being successful is going to be an easy one. It will take a lot of planning, failure, and hard work. Even still, success is not guaranteed. As the old proverb states, “Rome was not built in a day”, so do not expect your business plan to be any different. Personal Success an Business Expertise.
