Got Conviction? Then You Can Drive Your Business to Success.
- EMA Blog
In Australia, we have a phrase you never want to hear, particularly about your business: It’s cacked itself. An American translation would be catastrophically failed or died. Yet whether the mistake is big or small, failure is an outcome for many early-stage startup companies.
But an early failure doesn’t need to be the determining factor in your company’s future, a fiery wreck after all your hard work. So many people forget that failure is usually an opportunity to evolve, rather than marking a business’ demise.
I worked as an investment banker, built a boutique corporate advisory firm that was acquired by Credit Suisse, and after I completed my obligatory three years, returned to the chaos of technology companies and startups because I knew that’s where the real fun and true business happens. It’s where the stakes are high and the very real sense of risk (and the prospect for failure) has us all hanging on tenterhooks.
Related: Get it Done: 35 Habits of the Most Productive People (Infographic)
Success is all about how well you execute plans. Innovation and cleverness are never enough. How you bring your innovation to market and the strength of your product-market fit will define your company’s success or ultimate failure.
Having a coherent, clear and resolute execution of a business strategy is the key factor that sets some entrepreneurs apart. Having the most fantastic technical solution is not nearly enough if no one is using it or people cannot understand what you are doing and why it is better. Providing compelling messaging, offering a clear value proposition and solving a real problem in a tangible and accessible way are all crucial. Then being able to tell people about it through strategic communications, analyst and media relationships and customer advocacy programs will play an integral role to your go-to-market success.