Building a big, successful business is hard work.
And I’m not talking about starting a side-hustle that makes a little extra money every month — it’s fine if that’s what you’re working on, but that isn’t what we’re talking about here — I’m talking about growing a disruptive startup which requires you to find investors, hire employees, buy office space, and really sink your teeth into the journey of entrepreneurship.
Building your business to the 7, 8, or 9-figure level will take some serious dedication, persistence, passion, and ingenuity. But you can do it. With the right strategies and mindset, and plenty of hustle, you can grow your business as big as you like (just look at the unrelenting Jeff Bezos).
Here are 4 things Joresa Blount, founder of GoFlyy, learned about growing a healthy business (and life) while spending over a decade working on, consulting with, and speaking to some of the most disruptive startups.
1. The power of networking can not be understated.
I’ve never met a founder of a growing and thriving startup who didn’t have a large network of high-performers surrounding them. And typically, the more high-performers with various talents and expertise in the founder’s network, the more successful the business becomes down the road.
There are a few reasons for this. First, as many self-development experts have explained, every person is the average of their closest friends. Which means that if you want to build a successful business, you should surround yourself with people who’ve built successful businesses. Second, with a large network of experts in various niches, you have easy (and often, free) access to brilliant people who can help you achieve your goals, jump unexpected hurdles, and build the business of your dreams.
2. Failure happens when you stop adapting.
Failure is a mindset, an internal belief that you’ll never succeed, that you’ll never build a massively successful startup.
Sure, your product launch might be a total flop, your target market might not be who you thought it was, or you might be running low on capital… but none of that matters — not so long as you’re going to seek out ways to solve the problem and keep going. The only way to really fail is to stop learning and adapting.
Every successful entrepreneur I know, without fault, expects setbacks and uses them as opportunities to learn and adapt, not as an excuse to quit. I love the way that Mel Robbins explains this mindset shift: “Giving up on your goal because of one setback is like slashing your other three tires because you got a flat.” Just fix the flat and keep driving — there’s no other way forward.
3. Just because you built the business, doesn’t mean you should keep the business.
Many startup entrepreneurs dream of being like Jeff Bezos, Bill Gates, or Mark Zuckerburg. They have the idea for their business, they nurture the business through its early stages, and they expect to lead it once it’s worth millions or billions of dollars.
And for some entrepreneurs, that works. But I’ve found that a lot of times, the person who started the business isn’t the best person to keep growing the business. In fact, it’s not unusual for a successful startup founder to lose interest and sense of purpose once their startup reaches maturity, because the process for growth is so much different than what they really enjoy doing: the early stages of business development. If that’s you, don’t be afraid to sell your business once it becomes something you no longer want to lead — that’ll provide you with the capital and freedom to go build something else spectacular.
4. Company culture can drive extraordinary results.
There’s something really powerful about a group of people in the same room who care about the same thing and are working toward the same vision.
If you want to watch your startup takes off like a rocket ship, then hire people who are just as passionate about their part in your business as you are yours. Make your company vision and mission crystal clear with every new hire and ensure they’re on the same page as you.
And only hire people who you honestly believe will make your business more impactful and more extraordinary — don’t settle for anything less.