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Growth Strategies

5 Things Every Founder Should Know

Being a founder is not an easy position to be in, there are twist and turns that will take you by surprise, whether they are pleasant or not
5 Things Every Founder Should Know
Image credit: Shutterstock
Guest Writer
Creative Director, Creato Design Sydney
3 min read
Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

The thing is, every experience as a founder is different, and specific tips won't apply to everybody. However, there are certain things that every single founder should know - regardless of the industry you're entering, your background, or your vision.

So, without further ado, here are the five things that every single founder should know.

1. Your Market Research Won't be Perfect, Yet

In fact, your market research might never be impeccable. The takeaway from this is that you shouldn't follow or stick to it too much, be willing to manoeuvre and be flexible.

Our number one tip here is to start your market research, and never stop. The first bit of market research that you do, when you begin your founder journey, is more than likely superficial. It won't even scratch the surface.

Take the time to get more insights, make more meetings, try to get more feedback. Perhaps even conduct customer interviews.

2. Give Yourself Two Years

You won't reap the results you want in a few months. It just isn't possible, and that doesn't make you a failure.

In fact, 12 months isn't even enough, especially to not only create and promote but to sell to enough people. Starting your business is only the beginning, making it profitable and successful is a whole different task.

Most founders give up in the first year, but that's a big mistake. You should use the time to optimize your business and learn from mistakes. Don't give up.

3. It's Not Supposed to be Easy

Being a founder, especially when you have never done it before, is super hard. It's more difficult than being a VP or manager, though the skills are interchangeable, it's a lot more pressure and stress.

Is it worthwhile? Absolutely. Is it one of the hardest things you'll ever do? Absolutely.

You just have to decide if you're up for it, if you're in the position to do it, and if you're passionate enough.

If you believe in your company and are passionate about what you do, it'll make the entire experience a lot easier. So, that's something to bear in mind.

At the end of the day, if it were easy, everybody would be doing it.

4. Don't be Afraid to Ask for Help

There's always a pride aspect of being a founder. However, there's a difference in being proud of your work, and being too proud to ask for help.

Not asking for help or advice is one of the biggest mistakes that you can make. Always seek out advisers, mentors, and investors. It's not embarrassing, and it can be the difference between your company staying in one place or accelerating.

Be very wary of people who are claiming to "help", too. Sometimes they can waste your time, or just be searching for a quick sale.

5. You Won't be the Right Fit for Everybody

Not every investor is going to like you, and not every customer will benefit from you. Appreciating and expecting this is one of the best mind-sets that you can have.

You won't please everybody, and that's okay. Don't beat yourself up about it, or consider yourself a failure because of it.

These tips help you and guide you on your journey as a founder. Yes, it might be difficult, but it's an experience that you will learn and grow from.

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