Most Startups Fail. The Few That Don’t, Follow This Advice.

WilkisWilson“In our digital age, we’re drowning in information. The web offers us infinite data points—news stories, tweets, wikis, status updates, etc—but very little to connect the dots or illuminate the larger patterns linking them together. Here at Big Think, we believe that success in the future is about knowing the ideas that allow you to manage and master this universe of information. Therefore, we aim to help you move above and beyond random information, toward real knowledge, offering big ideas from fields outside your own that you can apply toward the questions and challenges in your own life.”

For example, Alexandra Wilkis Wilson, co-founder and CEO of GLAMSQUAD; co-founder of Gilt Group; and an advisor, mentor, and angel investor to startups in the New York Tech community, offers a few key tips to maximize any startup’s chances of success. First, listen to the naysayers, then go ahead and pursue your dream anyway — incorporating their advice where it’s useful. Second, get grounded. Entrepreneurs are often dreamers, and if you’re not detail-oriented, you need a partner who can anchor you.

This is the latest installment in an exclusive, week-long video series of today’s brightest minds exploring the theory of genius.

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It’s so typical that when you start a business or have an idea for a business, they’re going to be so many people who tell you why it’s a bad idea, of why it’s never going to work and potentially why you’ll never raise any money for it. And instead of letting those people discourage you, what we suggest is listen to these people. Maybe they have nuggets of wisdom that you can incorporate into your idea and maybe it’s just a matter of how you’re presenting your concept to people. A lot of entrepreneurs aren’t necessarily so grounded. So whether it’s one person who is a visionary and then has a co-founder or a team member who can ground them and kind of bring them into the details or maybe have a person who is able to balance both types of traits; it doesn’t matter. But at the end of the day, what’s going to make a startup successful I think is really that early stage team. Some of the most important qualities that you can find would be someone who is motivated, a self-starter who’s willing to roll their sleeves up. Someone who is flexible and is okay with unpredictability. And someone you want to spend a lot of time with too because in startups, your work can often be a huge part of your life so you better enjoy the company that you keep at work.

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Here is a direct link to the video and transcript.

With over 15 years of international experience in luxury goods, retail and finance, Alexandra Wilkis Wilson, Co-Founder and Strategic Advisor of Gilt, is on the forefront of revolutionizing and innovating the landscape of luxury e-commerce and experiences. Together with her co-founders, Alexandra took Gilt from a start-up idea to a more mature global enterprise.

She assumed multiple roles in merchandising, sales, business development, brand relations and strategic alliances within Gilt and Gilt City over a period of seven years, initially serving as Chief Merchandising Officer. Today, Alexandra acts as Strategic Advisor to Gilt.

Alexandra, together with Gilt co-founder Alexis Maybank, is the co-author of The New York Times best-selling book By Invitation Only: How We Built Gilt and Changed the Way Millions Shop (Portfolio/Penguin Random House).

To learn more about Alexandra Wilkis Wilson, please click here.

To learn more about Big Think, please click here.

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