Four Lessons Every Startup Should Know

Thinking of having your own startup? It can be a rough yet incredibly rewarding journey – but
do you know the tricks of the trade? Here are some things you should keep in mind.

1. Do what you love…
A startup needs to be a labour of love. Starting a business means that you are going to be
devoting practically every waking minute to making sure it succeeds, and you are going to have
to give it your absolute best. You aren’t going to be doing that unless you absolutely love what
you do, and if can’t imagine yourself doing anything else! So spend some time on reflection –
ask yourself, is this concept something that I can see myself devoting my life and energy to?

2. ..but don’t forget that your employees might not always share your enthusiasm
Many top business people always remember the first time they hired someone beyond their core
team – they’re shocked to discover that they treat it like a job, and rather than as their passion!
And therein lies the rub. Your employees might not share the same goals as you. Of course, it’s
great when their drive matches yours, but a lot of the time, it does not. And as you will soon
understand, that’s perfectly all right. It is your job to figure out what motivates them, and give it
to them. It may be money, but it may also be working from home, flexible hours, long vacations,
reimbursement for education, or even being able to bring a dog to work. As long as they’re doing
a good job, don’t expect them to mirror your enthusiasm.

3. Choosing your co-founder is one of the biggest decisions you will make, so choose well
Differences between partners are one of the most common and fundamental reasons for many
businesses to fold. When money starts to come in, or alternatively, when the going gets rough,
you discover that the person you thought you were working with is very different from the
person you thought they were! Make sure to find out what their goals, track record, work habits
and ethics are, well before you draw up that contract.

4. Mark your victories – both big and small!
This one of the most easily forgotten yet simplest ways to keep morale high within your startup.
No matter the size of the victory, celebrate them. Appreciate and thank the people involved and
the people who supported you. Acknowledge the work that your team put in, so that they feel
valued within your company. This sort of personal bond goes a long way to making sure that
your employees work just that tiny bit harder for the next win. But don’t rest on your laurels –
set an agenda to hit the next milestone!

Augment can help you chart your startup journey. So give us a call, and we’d be thrilled to be a
part of your story.