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In today’s dynamic and frenetic business environment, new startups are formed every day. The fact is, many of them don’t survive. Often it’s not for lack of vision or a poor product, but a matter of small mistakes that doom a business before it can blossom. In my own experience, I’ve seen firsthand what it takes to make it, and what will break it. There’s no magic formula; the difference between a scrapped startup and a successful company comes down to timing, vision, hard work, and luck. As a corporate keynote speaker, I help startups avoid some of the most common pitfalls that derail even the best ideas. Here are a few tips any startup can use to maximize their chance at success.

Surround Yourself With Passion

It can’t be overestimated how important it is to have the right talent on board from the get-go. Having intelligent and creative people is key, but when I’m asked to be a corporate keynote speaker I always stress the impact that people’s passion can have on success, especially early on. For small companies, employees are often asked to wear many hats. The best employees are the ones who are good at what they do, their core competency within the company, but are also evangelists of the larger vision. Look for true believers, people who want to be part of something more than just a payroll. Talent and passion are magnetic, and the right group of excited people chatting up your company’s dream will draw other talent.

Trim the Fat Early

The key to surrounding yourself with the right people: eliminate the wrong ones. As a corporate keynote speaker, I regularly see otherwise great companies dragged down by a weak cog in the startup machine. If someone isn’t working out, don’t be afraid to have difficult conversations right away. Be very clear about your expectations. Second chances are acceptable, third chances are not. It may mean more work for the rest of your team but trust me, in the long run, you’ll be better off.

Scott Deming is a corporate keynote speaker with years of experience managing and consulting for both established businesses and startups. Scott brings his passion, business acumen, and deep knowledge to work for his clients as a motivational speaker, leadership trainer, and consultant. Contact Scott Deming today to kickstart your startup and go from fledgling company to market leader.