Not every start-up succeeds

Not every start-up succeeds, a large number fail for a variety of reasons – insufficient funding, poor product, bad business decisions etc. Hard work plays a big role in success of a business venture but so does luck and timing. Being at the right place at the right time is very essential for doing well in business. But having the right person at that crucial juncture is what turns things in favor of the budding entrepreneur. Right place, right time is dependent on luck to some extent, but having the right person means you have to put in some effort and get things going.

Develop the art of networking

How do you ensure this? Firstly , develop the art of networking – meeting new people and learning from old hands will pay rich dividends. When you network you build contacts who can help you in different ways – they can even get you featured on their websites – that is free advertising for you !

Make your own luck. You might meet the right people, but if you do not follow up on your networking gains you stand to lose all that you have achieved. Follow up with your contacts, keep in touch, do not miss out on opportunities – they will not come back.

No substitute for hard work

Whatever else you do, however much luck favors you remember there is no substitute for hard work. Be diligent, persevere in the face of adversity, put in more than 100% effort – only if you do this will your business prosper. You have to work hard even to network and follow-up. Opportunities will come your way only when you put in effort and keep your eyes and ears open.

Be prepared for everything – good or bad. Don’t stop your efforts but do not ridicule luck and fate either.