One of the most important things an entrepreneur can accomplish is actually becoming an entrepreneur.  There isn’t an application or formal engagement process.  Instead, it is a feeling.  A feeling of, “I can do this and I can do it better!” Starting with an idea is crucial, but solving for a problem gets the ball rolling and eventually evolves into what makes that startup work. 

Nick Longo never expected to be competing in the global software industry when he opened The Raven and the Sparrow Gourmet Café in early 1994. What he soon found was an entrepreneurial spirit that led him to his success in the ever-changing economy of the Internet marketplace and it earned him millions of dollars along the way.

Nick’s creativity with CoffeeCup Software has enabled millions of new and existing entrepreneurs to establish an Internet presence and more actively and efficiently compete by bringing their businesses to the Web. This aspect of his endeavor was particularly satisfying to Nick, who was in the same position just years before.

Having the opportunity to visit with Nick Longo, Director of Strategic Initiatives at Rackspace Hosting and Founder of CoffeeCup Software, he shared some crucial points to consider when just getting started.

1. Start with a foundation
2. Know your audience and how to engage them
3. Don’t be afraid to fail

Starting with a foundation is crucial.  You have a skill set and talent.  You also are self-aware and know what skills you don’t have.  That is your opportunity to seek a partner and find that team that helps develop your startup to success.  Without that foundation, you are setting a course for frustration and more frustration.  Starting a new business is already daunting, and there are going to be challenges.  Don’t let one of those challenges be the team you have brought together to do something really cool and make a huge impact.

Knowing your audience.  Maybe you do know them or maybe you don’t.  If you don’t, get to know them and fast!  Why do you think what your building is worthwhile?  You audience will tell you.  They are experiencing real pain that you are solving for and they have the ability to be ambassadors and promoters for the awesomeness that is your product.  Miss a beat or cue from the audience, and all that you are building may be in vain.  Take the time to listen, solve for their pain, and then execute like only you know how to do.

Failure.  Wow, just looking at the word scares most people.  I think of a time when I knew nothing but failure and how it took hard work to have that one success.  You can’t be afraid of failure, but instead you should embrace it…and fail faster!  Think of this as an experiment and you are on a trial run.  No one hits success their first time out, and what you value as “successful” changes along the way.  You have a long journey ahead of you and knowing that it is indeed sleepless should motivate you.  Also know that you are going to fail.  Fail big and fail small, don’t think about the scope, but rather what you are building and how it is changing the lives of people.  They rely on you and with that in the forefront, you will fail and fail often.  Shift, move, pivot.  And then, on that day when you are at your most sleep deprived, you will see it, success and the feeling that you are on to something big!

In reality you are, it just takes some time, a lot of hard work, and patience to get there!