10 Characteristics of a Successful Startup

10 Characteristics of Successful Startups

There is no single path to startup success. If such a yellow brick road existed, laid bright and obvious to entrepreneurs of all stripes, thriving in this competitive market would become as simple as stepping into a pair of ruby slippers. The best that entrepreneurs can hope for in 2017 is to learn what they can from those who've come before in a community that supports, inspires and connects, like the Santa Clarita Startup Grind, which launched in September.

We've noticed that though entrepreneurs can vary widely in their skill-sets and industries, they all seem to have some characteristics in common. Do you have what it takes to get your startup off the ground? Ten of those characteristics are highlighted in an ebook published by the Santa Clarita Valley Economic Development Corporation. Here's an excerpt of our insight:

1. Be Disruptive and Unafraid — Can you seize what others are missing and take advantage of market opportunities? Successful business owners need to strike a balance between book smart and street smart.

2. Be Laser-Focused — Give yourself the gift of undivided attention. Ditch the busywork and focus on what really matters.

3. Be Dedicated to an Excellent Customer Experience — The old mantra remains true: The customer is always right. Be hopelessly devoted to your customers and they will return the affection.

4. Be Persistent and Committed to Growth — Stay positive. Startups can be a grind. Keep moving forward, but be prepared to adapt, and quickly.

5. Be Agile and Flexible — Sometimes it's okay to walk away from a bad fit. Good business owners know when to get out, get feedback, adjust and repeat.

6. Follow The Customer, But Lead the Market — The most successful entrepreneurs are ahead of the game. The know what their clients need, and lead the market with continuous innovation.

7. Have Strategic Planning and Swift Execution — There's no time to waste, but that doesn't mean you can't have a business plan. Get your playbook done, and start moving forward with your ideas.

8. Hire a Killer Team That Will Thrive Under Stellar Leadership — Good leaders walk the talk and surround themselves with a skilled, hard-working team that shares their values and understands their dream.

9. Work Smart, Play Hard — Be productive and be efficient. But don't forget to reward yourself and your team for hard work.

10. Have Fluidity in Responsibilities — Entrepreneurs often wear many hats, from taking out the trash to product design. Roll up your sleeves, and as you grow you'll add more specialized team members to lighten the load.

Want to know more? Download our free ebook today!

In last week’s blog, the benefits of community and connectivity as well as prime locale were highlighted as integral decision-making factors when selecting where to plant your entrepreneurial roots. Join other like-minded individuals that are leading their respective markets and get your startup off the ground today – contact SCVEDC to call SCV home, your future is closer than you think!

The Santa Clarita Valley Economic Development Corporation (SCVEDC) is a unique private / public partnership representing the united effort of regional industry and government leaders. The SCVEDC utilizes an integrated approach to attracting, retaining and expanding a diversity of businesses in the Santa Clarita Valley, especially those in key industry clusters, by offering competitive business services and other resources.