What’s wrong with the typical definition of “success” for a startup? originally appeared on Quora: the place to gain and share knowledge, empowering people to learn from others and better understand the world.
Having worked with numerous entrepreneurs, I know that the definition of success is different for all of them, but there are some common misconceptions or themes that stand out amongst those defintions. These misconceptions include:
- Expecting success too quickly. Nothing happens overnight. However long you think that it will take to be successful, double that number because nothing in business ever goes as fast as you anticipate. It takes time to build your foundation and gain traction. Prepare yourself for the long game.
- Not giving themselves enough credit. Entrepreneurs often beat themselves up for every little mistake and setback. These hiccups, however, are unavoidable, so they must learn to focus on what’s going well. When entrepreneurs fail to celebrate the little wins along the way, they may start to feel defeated and give up prematurely. Being successful as an entrepreneur is all about tenacity so give yourself credit where credit is due.
- Setting unrealistic expectations. As entrepreneurs, we can often be our own worst nightmares. We can set our goals so high that we then set ourselves up for failure. Smaller, more realistic, incremental goals are what we need to keep taking steps forward with our startups.
- Comparing their business to the exceptions, not the rule. We can’t all be Amazons, Ubers or other massive startups. Don’t compare your business to others. We all have different concepts, objectives and timelines. The only startups you should compare yourself to are those you are directly competing with!