New business idea? Here are some rules to help bring it to market

The things that are most important for a startup to have in place to handle challenges are also the ones most easily ignored in the euphoria of a new idea. So, assuming your idea is sound, here are some of the most important cornerstones that may present in the most successful startups.

Find a great partner

Startups are draining. They will take every ounce energy you have to give and then some. Without a good partner to share the load, you will soon find yourself drained and overwhelmed. There’s no formula for a great business partnership, but I like to use the metaphor of a kite and a string. Great partnerships balance lofty ambitions with practical grounding.

Protect your intellectual property

Get very familiar with trademark and patent law. IP protection can be absolutely critical to realizing long-term value. Keep in mind that patents will not prevent infringement. Instead, they give you the right to enforce the novelty of your idea. If your idea is successful, it will be copied. Be ready for that.

Be prepared to pivot

I’ve yet to see any startup that is not reshaped by the market. Pivots are hard for founders, but they are essential. Seventy-five percent of all startup founders attribute their success to a

pivot. A pivot can just as easily be with your business model as with your product. Digital marketing takes patience

One of the greatest assets that your startup has is digital marketing. Most startups think that this is synonymous with search engine optimization or SEO. Digital marketing involves a long-term sustained effort of training search and social algorithms to recognize your social posts, investing in social media advertising, and constantly analyzing results. Start small, but keep at it.