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The Third Step to Making it as a Startup

This article is written by Munira Hussein, a Contributor Author at Startup Istanbul.

Steli Efti was one of the speakers at Startup Istanbul 2015 Conference. He spoke about the importance of learning how to hustle and why it will help you on your way to becoming successful entrepreneur.

The first two steps we tough but when you get to the third one, you need to summon your finishing power. Who wants to come this far and fail right before touching the finishing line?

The secret to closing deals in sales and startups is asking for it. When the interaction has been great, do not go back home or to your team hoping that they will buy your product or invest in your business.  Finish the conversation by asking conclusive questions like how big the chances of their investing are, ask if they are ready to make it happen and how soon, ask if they have business cards and how you can keep in touch.

Don’t shy away. It is very uncomfortable and most people would not like to keep asking after the interest has been shown. The reason why most people do not ask for the close is because they do not want to hear a No. No is not a sign of failure, it’s a sign that you have another chance to try again. Expect a yes but embrace the no, as many of them as you get. Ask what you need to do in order to make it happen. Inquire on what adjustments you need to make to your product or plan

Be emotionally stable and strong. Manage your emotions through the highs and lows of startups. Getting a yes is great when you ask for anything in startups. But you must overcome the fears of no and rejection and ask for things that you expect something you don’t want to hear, magic happens.

Yes is great, no is good and maybe is where your startup starts to die. Don’t be ashamed of asking for a close early. Ask often. it takes emotional strength to go through it all and you need to learn that early in your startup. The more business relationships, partnerships, press conversations you have and can ask for, the better. That is where the growth of your business lies. It is the fertilizer for your little plant. however, in the maybe space, is the death of your plant.

Your job is to create moments of truth every day. Get the yes, celebrate and build your business.  Get the no, learn from it, improve, iterate and move on.  When you hear a maybe, ask more until it is converted to a yes or a no. No business succeeds on a maybe. It has to be definite answer. Do not shy away from anything that is outside your comfort zone.

The more comfortable you are, the faster your business is going to die.  Find all the ideas in your head that you have been postponing or been afraid of executing and take action. Success lies at the end of your fear and procrastination. It is okay to think your product is not good enough but hear it from your customers and investors. Find out why and improve.   

─ February 23, 2020