Starting a company can be a challenge.  In fact most startup companies fail or go bankrupt within the first year or two.  I’ve always been fascinated with startups.  In fact at one point I even had a blog where I focused specifically on web startups.  Since then I’ve gotten interested in how to start a successful business in general.  Through all of my research, experience, and talks with successful startup creators, I came down to the same conclusion.

The secret to startup success is hard work.  I know it’s obvious yet it’s easier said than done.  Web startups are a good example.  Many entrepreneurs who start a successful web startup often work 16 hour days for the first year or two.  Of course when their startup takes off it easily turns into the next google, youtube, or facebook and is worth millions if not billions.  At that point if the entrepreneur wants to retire for the rest of their life and live on an island somewhere they can afford it.  Of course many do take time off but they ofter go on to starting their next company.  Why?  Because vacationing is only fun for a month, two or six after that it gets boring.

So how can you work hard on growing your business?  Remember you wont have to work hard for the rest of your life, but you need to work hard to get your startup company off the ground.

A broke genius is simply someone who has great ideas all the time yet is always broke.  The most common way one becomes a broke genious is by not implementing the ideas they have.  Simply being lazy, thinking it will be too much work, or doubting one’s self will leave them a broke genius.

Whenever I’m around people I always hear them coming up with business ideas yet very rarely do I ever see them implement the ideas or at least try them out.  Is it because the ideas are stupid?  No in fact many are great.  I think is because ideas are one thing and doing the actual work is a whole other thing.  Many people look at a successful business owner and say he’s a genious, that was a great business idea blah blah blah.  Often they say that because they never started a business themselves.  If they did they’d know that even if you have a great idea you have to work your butt off to make it work.  So what idea are you going to implement?  Please share in the comments.

What is the value of money?  Well it’s the value society assigns to it.  What’s the value of a five dollar bill?  Can you really explain it without thinking of what you can purchase with the bill?  A five dollar bill is just a peice of paper.  A thousand years ago it would have been worthless.  However today especially in America it has value to it.  How come?  Because as a nation we decided to give it value, we decide it to use to facilitate the exchange of goods, it’s a system of trust we agreed upon.

With the falling economy, the falling value of the dollar and the tough financial times many are wondering whether the dollar will become worthless one day.  I think that’s the wrong question.  Because the dollar is just a peice of paper.  I think one needs to focus on the work and effort that goes into making a dollar.  That work and effort is the real value.  As long as one is willing to work hard and create value for others then they will get value back.  So the question should be, am I creating value for others?  or how can I offer more value to others?