How Interim Executives Set Up Startups for Success (Part 2)
How interim executives help startups achieve success by keeping them away from fake trends and following their ambitions.
This is part 2 of a series. To read part 1, click here.
Interim Executive Startup Tips: Stay away from fake trends
Before investing your time and money in a trend that is about to take over, do some research. New technologies or industries where early adopters are obsessively using the product or service is a trend worth pursuing. Conversely, a fake trend is one where people buy the product, but they don’t use it.
When the iPhone first came out, many in the mobile industry had dismissed it on the grounds of it selling only a million or so units (which was measly compared to sales of other mobile giants of the time). But the people who had bought those initial units were obsessed with their devices and were recommending it to friends. Entrepreneurs that spotted that enthusiasm were quick to capitalize on it and made a handsome profit.
On the other hand, virtual reality technology while exciting appears to be a fake trend. Consumers that have bought VR tech, do not use their devices repeatedly. And although the technology has existed for several years now and many companies have invested in it, it is not making the impact as predicted.
Interim Executive Startup Tips: Ambition counts
There are so many great ideas in the business world. The ones that stand out are the ones that interest people. People can feel your passion, your enthusiasm, and your interest in an idea. Those feelings are infectious, and if the founder of a startup is ambitious and believes in his or her vision, it will attract investors, customers, and employees.
Successful business owners and entrepreneurs are confident about their future and have a clear vision of what they want to achieve. The courage to follow through with plans in the face of doubt has an impact on achieving success.