EconWatch (July 27, 20)
Nowadays, it seems like a new business or organization is created every week. However, as fast as some appear, others disappear just as quickly. Ahbin Kurella, a business undergraduate at the University of Maryland, presents his view on what contributes to a long-lasting, successful project.
One of the leading causes of project failure is rushing. With their thoughts centered around creating a successful project, many blindly rush into launching their project without first building a solid foundation. “They should start by knowing their mission and building a team of hardworking individuals,” Kurella stresses. Without a stable and unique mission that your team is passionate about, the project will crumble.
Another obstacle that entrepreneurs face is not seeing their desired outcome despite how much effort they may put in. Kurella believes that the most crucial thing in obtaining success is to address problems. Although it may be difficult to criticize your project and pinpoint problems, untended issues will only cause setbacks.
Still, Kurella believes that “starting any business ... will teach you valuable skills that will help you in every aspect of life.” So, don’t shy away from the challenge, take risks, and pursue your entrepreneurial ambitions!