We all know it takes a lot of passion to found a startup. There is a lot to be said for long hours and ongoing inspiration. The real question is, however, is passion enough?
We asked 13 successful entrepreneurs what they think the formula for success is and how to get there once they have it figured out.
Q. Do you think that anyone who has enough drive and desire can start his or her own startup regardless of other obstacles? Why or why not?
Their best answers are below:
1. Being Hungry Isn't Enough
There is a lot that goes into starting a startup. You have to be in a position to go without an income for an extended period of time, have some natural talent and skills and be able to create meaningful relationships with people who can help. Hunger is essential, but it's not enough in itself to make a startup happen.
2. Overcoming Obstacles Is the First Step
My grandfather immigrated from Cuba to the United States in 1966 and didn't know how to speak English. In 1967, he started a business. His hard work and perseverance taught me anything can happen. Any time you think your obstacles are impossible to overcome, I suggest you travel the world and witness how other people live compared to you. I guarantee your obstacles will seem minute.
3. Having Talent Is Just the Start
Drive and desire are probably the key ingredients necessary to start and grow a successful startup. Talent and skill are important, but without the intense drive to overcome any and all obstacles, they won't be enough. Obstacles grow bigger and more complex the further you go along, but the more obstacles you overcome, the better you get at solving the next ones.
- Joe Barton, Barton Publishing
4. Having the Right Product Will Help
It does not matter how hard you work. If you're trying to sell something people don't need, you don't have the right product. I am frequently frustrated by entrepreneurs who think it's unfair that they work 100 hours a week and their businesses aren't taking off. If you have a great product or idea, you might only need to work 50 hours a week instead!
- Kelsey Meyer, Influence & Co.
5. Executing an Idea Is What Matters
You need to be able to execute. Ideas in and of themselves are meaningless. There's a big difference between saying "It would be cool to fly," and designing an airplane. The ability to execute separates the wantrepreneurs from the entrepreneurs.
- Danny Boice, Speek
6. Being Able to Listen Is Key
Drive, hustle and passion are all critical to starting a business. What's often missed is the skill of listening. Your team and advisers will give you great advice, but what the customers say is more important. If their feedback falls on deaf ears, then your desire and hustle will still get you very far -- just down the wrong path.
- Aaron Schwartz, Modify Watches
7. Growing the Startup Is the Hardest
Anyone who has drive and desire can start a new company; that only requires a little bit of paperwork. What's hard is growing a startup into a viable operating entity. If that's your goal, recognize that the odds are stacked against you and it takes more than hard work. It also requires a fair bit of luck since there are a myriad of external factors you can't control that have a huge impact.
- Erik Severinghaus, SimpleRelevance
8. Having the Skill Set Is Mandatory
Passion is key, but it’s not enough in and of itself to start your own successful company. You also need to have the ability to execute and the ability to lead. Both of these abilities require particular skill sets that successful entrepreneurs share.
- David Ehrenberg, Early Growth Financial Services
9. Being Passionate Is Overrated
I've met so many people and have listened to countless pitches in which you can almost see the passion oozing out of them. Unfortunately, the idea was bad, it was bad timing, the trend was over, or they had a bad business model. There were so many reasons they failed. Drive and desire do not equal execution.
10. Making Money Will Determine Success
Anyone with a lot of desire and drive can start a business. But that doesn't mean that she can make money. If you or your business partners don't have a firm handle on finances, sales and marketing, you can't succeed long term.
- Elizabeth Saunders, Real Life E®
11. Defining Success Can Be Complicated
Yes -- but it does not mean they’ll be successful. Like any birth, the start of something new requires all love, commitment, determination and pain. Passion and drive will get you through this early cycle. But long term success comes from all kinds of other things, like the willingness to fail and learn from others, the desire to improve every day and much much more.
12. Being Successful Isn't Guaranteed
Anyone can start anything, but the difference between something starting and flopping and starting and succeeding is in drive, desire and quality. People starting new businesses must realize that once the shiny and new feelings wear off, there will be a lot of blood, sweat and tears. They better be sure that what they're doing is something they love.
- Erin Blaskie, Erin Blaskie, Digital Strategist
13. Being Driven Is a Requirement
Some people are destined for success and will do whatever it takes to get there. All obstacles can be overcome. If you're going to make excuses or quit at the first signs of adversity, you clearly didn't have the drive and desire required to run a startup.
- Andrew Saladino, Just Bath Vanities
