Here's How To Create An Ultra Successful Startup

Anna Skaya made her appearance on the 21st Episode of Shark Tank Season 10. After pitching her idea to the Sharks, Kevin O’Leary aka Mr Wonderful invested 125,000 dollars into the business. But O’Leary has once mentioned he is not a cat person, however, after listening to Skaya’s pitch, he was “hooked”. He later went on Linkedin to say that Skaya was “so convincing”.

This says a lot considering O’Leary’s well-known tough love for entrepreneurs that appear on the TV show. O’Leary’s investment earned him a 5% stake in the company and in three years, his investment paid up after Basepaw was bought for more than 50 million dollars, making it one of the highest-earning deals in Shark Tank’s history. This was enough to turn Shark Tank’s Kevin O’Leary into a cat lover.

So, how did Anna Skaya pull this off? Here are six important things revealed by Anna Skaya in an interview.

1. Get connected 

Skaya’s first advice is to build a strong network by talking to other founders preferably within the same industry. Attend workshops, conferences, and events organized by founders or experts in your industry. This will accelerate your learning and help you identify “avoidable” mistakes and recognize opportunities for growth within the industry. 

2. Get advisors

There’s nothing like too many advisers, as long as you can manage them. This may not be generally accepted, nevertheless, there is wisdom in keeping as many advisers as possible as long as they each have something unique to contribute in some way. Of course, this may cost you a token in the form of equity. But that is a small price to pay for the immense wisdom you stand to get.

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3. Always be thinking about sales. 

No business can survive without making sales. This makes marketing an inextricable part of any business. For this reason, mastering the art of selling should be a priority.

4. Be ready to dedicate years to your business, above and beyond

Building a successful business takes time. Entrepreneurs who want to succeed must be ready to play the long game. Not everybody can handle the pressure of running a business or wait patiently while it grows. The overnight success of many entrepreneurs is often years of hard work and many many sleepless nights dedicated to their business. If you’re not ready to pay this price, then perhaps you should consider another career path. 

5. It will never be boring, but it will never be easy

Bored will be the last thought on your mind. There will be always something to keep you on your toes as an entrepreneur. You will face so many challenges that will stretch you and learn lessons that will change you as a person. Each level of growth in the business unlocks a new challenge that will either make or break you. As Skaya puts it, “It’s a rollercoaster”. You won’t have time to be bored, frustrated maybe, but never bored.

Click the link below to read the full interview

That’s all for now folks.

Until next time, stay inspired and keep chasing your dreams!!!

Cheers,

Alex