5 Essential Things People Often Forget While Considering a Business Startup

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When people think of launching a business startup (or applying to work at one) they usually spend their time worrying about how popular the startup will be or how long it’s going to last. These concerns are valid, but they leave out some important points that everyone involved should consider.

1. Experimentation is Good

When concerned with the longevity of a startup you might start trying to model it after previously successful businesses. This can work, but it destroys the chance for experimentation that can only happen on the small scale. Before you make the decision to keep everything uniform and normal try to come up with some things that a big business would never be able to risk doing out of the fear of the unknown, or just come up with things that you’ve always wanted to try. What other opportunity will you have ? Sure, it’ll be risky, but…

2. Risk is the Whole Point

If you want job security then get away from startups all together. Job security can be found at bigger companies with standardized ways of doing things. Startups are supposed to be new and inventive, but with those qualities comes risk. Risk is a given. Risk is the whole point. Without risk there is no chance of reward. So stop being so concerned about it and commit yourself to doing your best.

3. Consultants are Your Friends

Not ready to throw caution to the wind? Then seek out help from a startup consultant. You might feel some sense of pride in having a startup where you call the shots, but if you don’t have a lot of experience and you’re feeling concerned about something then you should call a consultant. Startup consultants know what they’re doing and they might be able to save you from some poor decisions that are more common than you thought. Speaking of commonalities…

4. It Might have been Done Before

That’s right: your totally unique idea that you spent so long perfecting might have been done before and, what’s worse, is that you probably never heard about it. This doesn’t bode well for anyone, so look into failed startups (and successful ones, for that matter) before you move forward with any idea. This is where that consultant we just mentioned can really come in handy. They’ve probably been around the block a few times and they might be able to tell you if they’ve heard your ideas before you came up with them. If they have, and the ideas didn’t pan out, then you might be able to learn what adjustments you need to make to succeed. Or, if worst comes to worst, then you can stop early and avoid total failure. That being said…

5. Failure IS an Option

Look, no one wants to fail, but it’s an option here. Don’t be afraid of it and know when it’s time to throw in the towel, even if doing so hurts your pride. Sometimes even the best ideas

don’t work out, and sometimes you need to decide between giving up on something or going bankrupt in the pursuit of startup success. Don’t ruin yourself for the sake of a startup.

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As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand or for a free startup consultation. We operate as a single source for your business operations in  Thailand/Asia   with our Thailand Market Entry Services and we specialize in Startups | Representations | Regional Business Development | Virtual Offices | Liaison Services. Check out your options here.

Author – Andy Aditya  |  Asian Director 

startupinthailand.com | Adityainteractive.com

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