Why One 24-Year-Old Decided To Grow His Business Without Startup Capital
See this awesome article and Podcast I did for @Forbes
Some of my favorite points from our talk below (All bullets below are written by @JulesSchroeder and are in the article written by Jules):
It doesn’t have to be perfect to be profitable. When you let go of the need to be perfect, you open yourself up to release more products that will probably satisfy the market need just as well. “Some of the best baseball players in history bat 300 (out of 1000) and they’re getting paid 100 million dollars. So every ideation you have, it’s not going to be perfect, nor should it be,” Levine says.
Don’t rush into growth. Growing should feel natural — think of how an organism grows at a steady rate to sustain itself every step of the way. If the lungs were to grow too fast, the tissue might tear and the entire breathing process would be destroyed. Allow your company to acquire the necessary resources in every department first, and you will find that when you are ready to upsize, the right opportunities will present themselves at the right time.
Your first idea isn’t always your best. Give yourself room to go through the creative process. Levine shares, “I think a lot of people get stuck in the mindset that they’ve had this great idea and they’ve put the whole thing together and they plan to execute that, but a lot of times you can’t execute what happens on paper because there’s a lot of dynamics that are gonna change when you bring a project from inception to reality.” Be patient and let experimentation happen as often as it needs to.
Failure is part of the process. Making mistakes is part of the natural progression of the creative process — it alerts you to what isn’t working so you can build a better product. The more you fail, the better the result you’ll end up with. Try to disidentify with the emotional aspect of failure and use it as a platform to improve. Levine says, “I view failure more as just you’re turning the car to the left and now you’re not going straight anymore.”
Special thanks to @JulesSchroder for setting this all up and producing such great content!
Click here for full Article & Podcast