Weekly Column: 2017-09-01

We often hear the word “startup” these days. Startups refer to new companies with innovative technologies and ideas that have only recently been established and they mainly focus on developing new business models or being pioneers in new markets.

Recently, many people, regardless if they are from the East or the West, believe that there is no future as an office worker and have been turning their attention to startups. Since there are many great success stories from one good idea, there has been an increase in young business people who have chosen to adventure into a startup vs stability from a job.  It is such a great temptation to think that you can change the world and achieve great success through creative thinking.

However, many who dive into startups face unexpected obstacles due to their lack of experience. Gaining knowledge from the internet and through lectures is often quite different from actually starting a business. The difference in knowing something and actually doing something in business is as different as heaven is from earth,  even the smallest difficulties can become quite frustrating.  It’s like building a house, you have an idea for it in your head but you must gather the materials and work hard in order for the house to be totally built. It is not easy to even erect a pillar, let alone build a whole house. What this means is that passion alone will not guarantee the success of a startup.

Many startups spring up and fall into nonexistence in this way all over the world. So how did companies like Facebook and Apple survive to the end and grow into some of the world’s most innovative companies?

Successful startup entrepreneurs carefully plan things out even before establishing the startup. With their abundant experience, they are able to identify trends and start their company with a strong belief in their business. They reduce the probability of failure even before they start by correcting things that could go wrong in advance and by persevering through their convictions rather than being dragged around by circumstances.  Also, through the information they collect, they have an edge over potential competitors and plan ahead with a differentiated strategy.

With startups, there are many discouraging obstacles. However, those who are well-prepared and keep a positive mindset without becoming easily discouraged will eventually overcome these things and grow even more with the experience they’ve gained. What would it feel like to drive a car in thick fog if you don’t have any strategy or know-how? If you are well-prepared, you will be able to get through the fog safely.

In conclusion, it is an extremely dangerous idea to jump into the startup industry with passion alone. The proper procedure to follow in a startup is to first build the foundation and gain experience to survive in this fierce world of competition. Many successful people say to experience a lot of failures, but any failure is, in the end, a failure. We must not forget that a prepared startup does not work to increase the likelihood of success, but instead to decrease the probability of failure.

An unprepared person cannot win against a prepared person, and not preparing will lead to failure.

Beginning a startup is easy, but success is not. Without sufficient experience, it will be difficult to overcome hardships when they come. Therefore, although it is important to work hard with a passion for success, it is more important to prepare with both theory and practice and use experience as the foundation.

Are you planning on building the great house of success? If so, remember to set up a solid pillar of experience first.