By Darpan Sachdeva

If you’ve ever ventured into launching your own business, you’re likely familiar with the mixed bag of guidance that comes your way—from friends, family, and even strangers.

The counsel can range from unhelpful platitudes “Don’t go out of business!” to impractical exhortations “Give it everything you’ve got!” and even perilous suggestions “No matter what happens, stick it out!”.

However, once you seek wisdom from some of the most accomplished entrepreneurs globally, the game changes. These individuals possess genuine insights and are eager to share their knowledge with you. So, prepare to gain profound insights, as here are 11 Entrepreneurs share their startup secrets and advice from those who genuinely understand the ropes. Discover the eight secrets of startup success from a select group of accomplished entrepreneurs.

What I Wish I Had Known

1. Jared Kim (Founder & CEO of Forge)

Startup Secret: Building a Solid Foundation

“Success is not just about the idea; it’s about executing the idea and building a strong foundation for your venture.”

Jared Kim, Founder and CEO of Forge, emphasizes the importance of laying a solid foundation for your startup. Ideas are crucial, but execution is paramount. Kim’s journey reminds us that success requires more than just a brilliant concept; it demands meticulous planning, dedication, and a robust infrastructure.

2. Leo Widrich (Co-founder of Buffer)

Startup Secret: Focus on Company Culture

“Company culture is not just one aspect of the game, it is the game. In the end, an organization is nothing more than the collective capacity of its people to create value.”

As the Co-founder of Buffer, Leo Widrich understands the significance of cultivating a positive company culture. His advice underscores that a thriving culture is the heartbeat of a successful startup. Prioritizing the well-being and growth of your team contributes immensely to the overall success of the venture.

3. Mark Otero (Founder & CEO of Klicknation)

Startup Secret: Embrace Adaptability

“Be open to adapting your strategy. What you start with is often not where you’ll end up.”

Mark Otero, Founder & CEO of Klicknation, emphasizes the need for adaptability. Startups are dynamic, and the ability to pivot when necessary is a crucial survival skill. Otero’s journey highlights that being flexible in your approach can lead to unexpected and rewarding outcomes.

4. Todd Pedersen (Founder & CEO of Vivint)

Startup Secret: Customer-Centric Approach

“Your most unhappy customers are your greatest source of learning.”

Todd Pedersen, Founder & CEO of Vivint, stresses the importance of a customer-centric approach. Learning from customer feedback, even when it’s critical, is invaluable. It not only helps improve your product or service but also fosters trust and loyalty.

5. Phineas Barnes (Partner at First Round Capital)

Startup Secret: Surround Yourself with the Right People

“The best founders are intellectually curious and open-minded, willing to surround themselves with people who are smarter and know more than they do.”

As a Partner at First Round Capital, Phineas Barnes understands the power of collaboration. Surrounding yourself with a diverse and knowledgeable team enhances your chances of success. Barnes’ advice is a reminder that success is a collective effort.

6. Jeff Bezos (Founder & CEO of Amazon.com)

Startup Secret: Prioritize Customer Obsession

“We see our customers as invited guests to a party, and we are the hosts. It’s our job every day to make every important aspect of the customer experience a little bit better.”

Jeff Bezos, the visionary behind Amazon.com, attributes the success of his company to an unwavering focus on customer satisfaction. Prioritizing the customer experience ensures long-term success and builds a loyal customer base.

7. Oprah Winfrey – (OWN Network)

Startup Secret: Be Authentic

“Be true to yourself and your vision. Authenticity resonates with people and builds trust. It’s the foundation for creating a lasting impact.”

Oprah Winfrey, media mogul and founder of OWN Network, emphasizes authenticity.

8. Thomas Edison (Founder of General Electric)

Startup Secret: Embrace Failure as Learning

“I have not failed. I’ve just found 10,000 ways that won’t work.”

Thomas Edison, the iconic inventor and founder of General Electric, exemplifies the mindset of embracing failure as a stepping stone to success. His words remind us that setbacks are not the end but rather a part of the journey toward innovation and excellence.

9.Naveen Tewari (InMobi):

Startup Secret: Think Global

“Think global from day one. Your market is no longer limited to your city or country. The world is your playground.”

Naveen Tewari, Founder & CEO of InMobi, represents the entrepreneurial spirit from India. His advice encourages startups to think beyond borders. With the digital landscape, opportunities are global, and a broad perspective can lead to significant breakthroughs.

10.Adi Tatarko (Houzz)

Startup Secret: Continuous Learning

“Surround yourself with people who challenge you, teach you, and push you to be your best self. Success is never a solo effort.”

Adi Tatarko, Co-founder of Houzz, emphasizes the importance of continuous learning and collaboration. The journey of entrepreneurship is a continuous learning process, and surrounding yourself with a supportive and knowledgeable network is crucial.

11.Peter Berg (Founder of October Three)

Startup Secret: Persistence and Resilience

“Success is not final, failure is not fatal: It is the courage to continue that counts.”

Peter Berg, Founder of October Three, highlights the importance of persistence and resilience. In the unpredictable world of startups, setbacks are inevitable. Berg’s advice encourages entrepreneurs to view failures as opportunities for growth and to keep pushing forward.

In the dynamic world of entrepreneurship, learning from the experiences of successful leaders is invaluable. These 11 entrepreneurs, with their diverse backgrounds and industries, offer a wealth of insights to inspire and guide aspiring startup founders.

Embrace change, prioritize culture, value feedback, persist through challenges, build a strong network, focus on the long term, learn from failure, innovate continuously, appreciate cultural diversity, set ambitious goals, and above all, be authentic on your entrepreneurial journey. The wisdom shared by these visionaries serves as a compass for navigating the unpredictable waters of entrepreneurship, ultimately leading to success.

Darpan Sachdeva is the CEO and Founder of Nobelthoughts.com. Driven by a profound dedication to Entrepreneurship, Self-development, and Success over an extended period, Darpan initiated his website with the aim of enlightening and motivating individuals globally who share similar aspirations. His mission is to encourage like-minded individuals to consistently pursue success, irrespective of their circumstances, perpetually moving forward, maintaining resilience, and extracting valuable lessons from every challenge.