The room was packed with entrepreneurs, former consultants, hedge fund managers and investors who wanted to learn a little bit more about the trials and tribulations of a start-up. Tony briefly talked about his background, what the app does and the fundamentals for how a start-up should approach their business.
For a quick summary of the talk here are four things that Tony believes will increase your chances of success:
- Recruitment – make sure you hire people who are just as passionate as you about the vision and the business. Motivational speaker, Simon Sinek, hit the nail on the head; “If you hire people just because they can do a job, they’ll work for your money. But if you hire people who believe what you believe, they’ll work for you with blood and sweat and tears.”
- Focus on the next step – have a vision of where you want to be in the future, but focus on getting to the next step no matter how small it is.
- Passion – you must be passionate about what you do. It is the passion that will drive you to work 16 hours a day, 7 days a week. If you don’t believe in your company, then why should your future employees?
- Solve a real problem – it sounds obvious but you’d be surprised by how many people create something that’s cool and try to fit into a market. Identify a problem, build a minimum viable product and test it early to see if people actually want your product! Fail faster to succeed sooner.