WEEK 1- MBA 6101- ASCENDING YOUR START-UP

Starting up a business is definitely not an easy task. People who embark on the journey of starting up a business will face many difficulties from minute one, so you must be prepared for the challenge. The author of the book Ascend your Start-up, Hellen Yu, divides the process in three stages: Base Camp, Slope, and Summit (2021, p. 32). Through this blog, we will explore the three stages but let’s begin with the first one: Base Camp.

At this stage, you probably know you do not have as much money as you wish to bring to reality all the brilliant ideas you have in mind. For this reason, it is important to have a map, a strategy that tells you where you want to go. Just remember this journey is not a sprint but more like a marathon. This means you need to understand it will take time and effort if you do not want to fail. Sometimes, you will even need to step back to re-formulate your strategies and re-design your map road to Summit.

Yu mentions five questions to ask yourself to keep on track: Why are you on this journey? What problems are you solving? What does success look like to you? How will you honor your brand? How will you prepare for the climb? In an old family business I had, I have witnessed how important it is to ask yourself questions like this. For me, one of the most important ones is what does success look like to you? When you think about it, you realize that money is not necessarily the result of pursuing money but the result of doing things that will get you success.

References

Yu, H. (2021). Ascend your Start-up. Success Publishing.