Leveraging The Secrets Behind Successful Startups.

June 27, 2014

With warm tropical weather, beautiful landscapes and a highly diversified customer base, it is no wonder that Hawaii became one of the most entrepreneurial states (CNN) with quite a number of successful startups. However there’s more than great weather and aloha spirit that contributed to their success.

Business incubators have been around since 1959 when the first one opened in Batavia, New York. They were described as established organizations that offer office space in exchange for an equity. Nowadays the model of business incubators has transitioned to startup or seed accelerators that offer guidance, mentoring, workspace and funding.

Recently, we’ve noticed that many of our local small businesses owners are expanding their services, focusing on social needs and new technologies. This exciting burst of creativity is providing new services that are changing the face of our marketplace. Hawaii’s BBB offers a few tips to help you expand your business or develop a successful start-up:

  1. Identify a Need: Analyze the opportunities that lay ahead of you and identify the needs of the marketplace. Most obvious problems that have simple solutions are commonly overlooked so pay close attention to what you feel is missing.
  2. Use Clear, Strong Words: Find the exact right words and avoid jargon. Instead, focus on a description that can fire the imagination. If you can't get people excited about your idea, it's not going to go anywhere beyond your head.
  3. Gather a Motivated Team of People: You will want to surround yourself with people that share the same vision and goals with you.
  4. Seek Guidance and Mentoring: There are many resources available for entrepreneurs today, from networking events where you can meet inspiring people, to startup accelerators that can provide everything from guidance and mentoring to possibly even funding.
  5. Set Deadlines and Goals: Set deadlines and goals for yourself and stick with them. Don’t become immersed in the chaos of starting up and expanding. You can revise the goals as need be, but you need to set them first.

Expanding a business or starting a new one is an exciting journey that everyone should embark on for discovering themselves, exploring their creativity, meeting new interesting people and providing unique solutions to common problems.

Just remember, the giants of Silicon Valley have all grown from a small startup with big goals and an enthusiastic team of people: Google’s headquarters were located in a small garage operated by two students Larry Page and Sergey Bin while Apple, Dell, Microsoft and Hewlett-Packard started out the same way.

Every entrepreneurial undertaking starts with a good idea, evolves to a bunch of amazing ideas, and with any luck, ends up as a successful business.

New startups can find more useful tips in our business tips section.