What Early-Stage Entrepreneurs Can Learn From Successful Businesses

Statistics say that approximately half of startups fail within the first five years since their founding. And one of the primary reasons for this occurrence is the entrepreneur’s lack of experience.

Here are some tips for early-stage business owners from those who have achieved success in the business world:

Create a winning team

Human capital is one of the most crucial element of a successful business. Recruiting the right people and building the best team with well-defined roles should be one of the foremost priorities for startup companies.

Everyone has weaknesses, even the company founders. These deficiencies, and more importantly, the strengths of every member should be objectively evaluated to fill the gaps.

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Focus on sales

The bottom line for any company is sales; without sufficient revenue, the business will fail. There should then be increased effort to drive up sales, and in order to do so, actively involving customers from the start is necessary. By listening to their needs and wants, business owners can gain several insights to develop business ideas faster.

Successful businesses focus on the customer experience with the objective of creating value in their products and services.

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Keep investors happy

Investors are few of the early partners a startup gains during the initial phase of the business. They are present not only to provide the initial capital required, but they can also serve as counsellors and mentors. There should then be a conscious effort to foster a healthy relationship with the investors. One of the best practices is ensuring that equity distribution is clear and has been agreed upon early on.

Bethesda, Maryland resident Sassan Kimiavi is a principal investor at Blu Venture Investors, LLC, an early-stage technology venture investment firm. For more insights about entrepreneurship, subscribe to this blog.

A sight of elegance: Home decor and interior design ideas for the living room

Elegance can be achieved by focusing on accents; instead of stressing over its cost. This holds true in terms of home improvement. If you want to have a classy abode, start considering these elements and turn your home into the sophisticated direction:  

                   Image source: Wildzest.com

Colors 

Colors have a psychological value, which can affect the mood of a person. It also reflects a person’s personality. This is the reason it’s important to pick the right colors for your home. 

For the living room, a decorator’s fail-safe choice is to go for neutrals. Instead of going for the latest Pantone of the year and sacrificing your budget every year for a repaint, you can be smarter by choosing neutral shades for the whole room. Not only do neutral colors give the living room an airy and calm appeal, but they also give you the liberty to play around with color accents throughout the room, without things going overboard. The recent trend in home improvement is painting everything white. If white is a bit high maintenance for you, then you may choose hues like taupe, gray, ecru, and beige as an alternative. 

Mirrors, Marble, or Metals 

Have a specific theme in mind, and add a certain element to your living room. An option is to put touches of silver, glass, mirror, or marble in the room. These elements are eye-catching. Thus, it’s recommended only to play around with just one element to avoid the room looking tacky. 

Choose a marble table top with silver or gold stand instead of a glass or wood. You can also go for a silver mirrored console table rather than the typical ones. If you are into wood furnishings, it’s best to choose one type of wood for your living room.  

Accents 

If you choose an overall neutral color for your living room, you can play around with accents more. One of the thing you can focus on is the set of pillows or cushions that you’ll put on your couch.

Home stylists recommend oversized pillows rather than smaller ones. Decide the particular pop of color that you would want all over the room. If you have a taupe couch and beige or gray walls, a pop of teal or turquoise won't hurt. The key is to pick only one vibrant color to avoid going overboard.

The color scheme and patterns in your living room don’t have to be monochromatic, though. You can choose to suddenly put a chair with floral prints in a corner just for added charm. 

                  Image source: Decoholic.org

For your tabletops, choose simple accessories like a white lamp, a huge glass vase, an indoor plant, but remember not to accessorize, so as not to avoid clutter.  

Dr. Sassan Kimiavi of Bethesda, Maryland, is the CEO of ALTA Development, a company that specializes in designing and building luxury residences in the Washington Metropolitan Area. For more on Dr. Kimiavi, visit this website.