Seventy-five percent of startups fail, many of them epicly. Of the thousands of companies founded every year,a mere fraction survive. And, of those few remaining, only a tiny number will go on to produce a sizable and sustainable revenue stream year over year. And, of those few remaining, only a tiny number will go on to produce a sizable and sustainable revenue stream year over year. The hard part of figuring out this trajectory is that there is no prescriptive recipe you can follow to guarantee that yours will be a successful, massive business.
The reason? Expectation misalignment. Most flegling business owners are unprepared for the long, hard journey ahead. Most startup founders have no idea what it takes to build a marginally successful business, much less a million-dollar one. But there are at least four things they should know before they try:
1. Shh . . . Build in silence.
Quiane Crews, the chairman of Stealth Performance Communications, has one crucial tip: “Build in silence; they can’t stop what they can’t see,” he cited as his advice, during an interview I had with him at a conference.
“My No. 1 piece of advice for entrepreneurs is to build in silence,” Crews said. “A common mistake entrepreneurs make is that we get so excited about an idea or business venture we have, and we start sharing our vision with people around us and close to us. The bad part about that is not everyone is meant to know your vision.
“I learned that I shouldn’t tell people my next move if I haven’t made it yet. If people don’t know what you’re doing, they can’t distract you or get in the way of your goal.” According to Crews, by telling people what you’re doing or what you’re about to do, you’re basically showing them your hand before you play it.
“I’ve had my shares of ups and downs as well as any successful entrepreneur,” Crews continued. “One of the main reasons I was able to gain massive success in a short period of time is that no one knew what I was doing, and I had an amazing team that was on the same page as me.”