The Shark Tank Formula For Startup Success [Infographic]

The Shark Tank Formula For Startup Success [Infographic]

Sink or Swim? Here are some key lessons from the sharks to ensure that your start-up's a success.

Most startups begin with a great idea but a bad plan; this is why over fifty percent of startups fail to make it past the crucial barriers it needs to pass over to get past the rocky beginning. Although there’s no guaranteed formula that will bring assured success, there are important steps your startup can take to ensure that you won’t sink. There’s a lot of investment money floating around from larger companies looking to invest in promising startups, but only if the startup has a solid business plan from the beginning. Having a solid business plan means knowing exactly what you want your company to look like – online and in person. If you want a stronger success rate, and your startup is new to the industry, then you want to make sure you have the right combination of knowing exactly what you’re all about, and knowing how to promote that image.

Besides having a strong social media presence– posting ideas and opinions on sites like Facebook, Google Plus, LinkedIn and Twitter to photos and visual content on sites like Youtube and Vimeo – there are a lot of important tips to be wary of to make the most of your startup and get the largest following. It’s fundamental that you know the needs of your product, and know exactly where you can place your product. You also always need to be prepared and flexible, because anything can happen at any time. If you take the time to build your network of investors, and also take the time to reach out and constructively network as best you can with potential clients and customers, your chances of succeeding, especially in the beginning, will be a lot higher. Keep these important tips in mind as you move your startup away from its ‘startup’ status to a successful business endeavor!

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