Startups and their success depend on a variety of things. Yet, even in the face of adversity, they always seem to succeed when other businesses seem to fail. As such, one needs a detailed look into how it's run and managed that allows them to succeed. Multiple businesspeople like Eric J Dalius have worked closely with startups and analyzed what seemingly works for startups that don't work for anything else. So here are the myths and the actual truth about startups and their success:

Myth: The most important part is that they get funding

Truth: Anyone from the outside looking in might think that funding will be the most important factor in a startup. However, it's not. The main aim of any startup is to show growth and a burgeoning user base. Suppose you can show that you require funding to expand your product or service. The money will automatically come your way. Yet, there seem to be multiple instances of underfunded startups. The reason for this seems to be that they either don't want to take investors’ money or they don't show the growth in business.

Myth: Startups have different and unique ideas-EJ Dalius

Every era seems to have a specific trend that startups follow. The easiest way to explain this would be by using examples of software development through the ages. Some two decades ago, startups were clamoring to get in on the social network trend; one decade ago, it was the era of SaaS apps, and half a decade ago, it was blockchains. Even if a startup is following a trend, its idea needs to offer something different. Otherwise, it will go out of business soon since a hundred more people are doing exactly that.

Myth: Startups use a working business model

Truth: It's very common to think that startups will need to have a working business model to make them succeed. However, Eric Dalius says that it isn't even the second-most important factor. Know that having some business model helps to establish a startup. However, this business model must keep developing and evolving once the product is out in the market, and the user base grows. In such a stage, it is advertising and marketing that takes the front seat.

Myth: Teamwork is everything

Truth: It can't be denied that teams are important. After all, one single person can't get everything done. Ideas bring people together but how well those people work together is a different thing altogether. There have been instances of teams breaking down a few months after tasting success because people were in it primarily for the money. However, there have also been teams who have worked together for a decade and are still going strong. Disagreements and failures are all a part of operating a startup, but it's important to have a team with you that you can put your trust in. Overall, a team should have the motivation, accountability, and a positive attitude towards the work they have dedicated themselves to.

Conclusion

As such, startups are a different sort of breed from established businesses that you know about. For startups, the main goal is not funding or having a business model but to show growth and gains. To get it done, one needs a trustworthy team. This is how startup businesses can grow and develop.