According to Business Insider, founder of ban.do Jen Gotch describes that there are three main guidelines that would lead startups to success; the startup does not have to be high-growth to be successful, the work is never done, so it pays to set boundaries, and everything will not fall apart if you stop grinding for a moment.
First of all, it is important to know that a company does not have to be high-growth to be successful, and success can come at a slow and steady pace. This was proven in the article when the founder of the company decided to sell their company in order to sustain it. After considering multiple buyers, they eventually sold their company to buyers they trusted; the owners of the Lifeguard Press, Todd and Kim Ferrier, who grew the company into a multimillion dollar startup.
Secondly, it is necessary to set boundaries since the work is endless until you do so. This is because running a business is a time-consuming job that will require focus and devotion. In addition, the founder describes that even though it takes an “almost-unhealthy commitment to start a successful business, it doesn’t have to stay that way forever.” The reason is that there is always going to be work available, and it cannot be completed all at once.
Finally, even if you stop working to get a break, everything will not fall apart. Being busy doesn’t always equal success, as overworking yourself would lead to burnout, making your brain less efficient in the long-run. This was proven when the founder informed Business Insider that “it’s important to schedule in fun so that work doesn’t swallow you whole.” The founder then described how her performance and productivity dropped significantly when she never stopped working.
In conclusion, it is important to know what you are doing when you are planning to create a startup. Otherwise, your company would not be as successful or even fail. What separates the successful companies from the unsuccessful ones is if they know that a company does not have to have a large growth to be successful, that they should set boundaries in order to give structure to their company, and that it doesn’t hurt to take a break or two every now and again.
Source:
https://www.businessinsider.com/hard-truths-about-starting-business-bando-founder-jen-gotch-2020-5