What are the common threads behind successful startups?

These days, people are abandoning the idea of a 40-year career with a single company. Instead, they are opting to create their own future through the crafting of a product or the delivery of a service.

However, it isn’t obvious what one should do to succeed when one is just starting out, so many model those who are already successful, or they ask them what they think of their idea.

John Bradberry Charlotte NC has had a ton of experience over the years providing valuable advice to startup businesses, so if you were lucky enough to meet with him, you’d be in good shape.

If you can’t, this article will at least a little light on what you can do to end up in the Winner’s Circle some day.

 

1) They embrace diversity

It can be hard to believe, but in 2017, some quarters of society still argue that certain genders are better suited to certain jobs and businesses than others.

However, the statistics don’t support this theory, as it has been shown that startups that make room at the table for women return 63% more on investments made by VC firms then startups staffed by a disproportionate amount of men.

 

2) They harness the enthusiasm of youth

Starting up a business is an endeavor that takes a great deal of energy, enthusiasm and speed. It also requires fresh thinking, which is a quality supplied in copious amounts by younger generations.

These assertions are backed up by the facts, as venture capital firms report they get 30% more out of their investments when the average age of a firm is beneath the age of 25. It turns out the kids were alright, after all!

 

3) They recruit talent from the best companies

In order to drive growth and outflank their competition, startups need to be constantly on the outlook for talent that will skyrocket growth in their space.

When a firm manages to coax a thought leader, tech wizard, or a productivity mensch from a big time company like Google or Microsoft, they tend to produce fantastic results for them, as they generally only hire the best of the best.

When this happens, the ROI of these startups jump by 160%, compared to companies which are grinding along without elite talent.

 

4) They are headed up by serial entrepreneurs

When you have headed up a company before, you learn lessons whether succeed or fail. As a result, startups headed by founders who have prior experience as an entrepreneur generate a 50% better return on investment compared to firms headed up by a rookie CEO.

 

5) Their future success is not location dependent

Many founders assume that if they want to be successful, they need to move to Silicon Valley, New York, or wherever they can have access to talent and networking opportunities.

This has been proven false for the most part, as studies have shown that firms from Nebraska or Texas do just as well as those located in well-known startup hubs.

 

 

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