Starting a business is exciting, but it’s also one of the hardest things you’ll do. Many startups don’t make it past the first few years, not because the founders lacked passion, but because they didn’t master the basics of survival.
This guide is designed to help you avoid the most common pitfalls. It outlines ten key strategies that every new founder should focus on to give their business the best chance to survive — and eventually thrive.
1. Solve a Real Problem
Great businesses begin with solving real problems. Before you build a product, design a logo, or register your company, talk to potential customers. Ask them:
- What’s frustrating about your current options?
- How much would you pay for a better solution?
- What do you wish existed that doesn’t today?
If you can find even a small group of people who say, “Yes, I’d buy this right now,” you’re onto something. That validation matters more than your own assumptions or enthusiasm.
Tip: Keep a running “problem list” — a simple notebook or document where you record frustrations you notice in daily life. Problems often become the seeds of the best business ideas.
2. Start Lean, Stay Lean
One of the biggest reasons startups fail is running out of money too quickly. In the early days, your goal is survival, not luxury.
- Work from home if possible.
- Delay expensive hires until revenue can support them.
- Use free or low-cost tools before paying for advanced systems.
Every dollar saved extends your runway, giving you more time to find paying customers. Remember: lean isn’t just for the first month. The businesses that survive keep this discipline long term.
3. Validate with a Minimum Viable Product (MVP)
It’s easy to get caught up chasing perfection. But perfection is expensive, and it slows you down. Instead, focus on launching a minimum viable product (MVP) — the simplest version of your idea that delivers value.
This could be:
- A basic website that describes your service.
- A small test batch of your product.
- A manual version of a process you hope to automate later.
Your goal is to test your assumptions quickly and cheaply. Use real customer feedback to improve. If people are willing to pay for your MVP, you’ve proven demand and earned the right to build more.
4. Manage Cash Flow Aggressively
Cash is the oxygen of your business. Without it, you can’t survive.
- Track every inflow and outflow.
- Send invoices promptly and follow up.
- Negotiate payment terms that favor cash coming in faster than it goes out.
Even profitable businesses can collapse if they don’t manage cash well. Create simple financial habits early — weekly check-ins, monthly forecasting, and clear goals for revenue.
Reminder: If your sales are over $30,000 in a year, you’ll need to register for GST with the Canada Revenue Agency. In Saskatchewan, you may also need a PST license depending on what you sell.
5. Differentiate Clearly
Why should someone choose you over the competition? Your unique value proposition (UVP) should be so clear you can explain it in one sentence.
Bad example: “We sell clothing online.”
Better example: “We sell affordable, eco-friendly clothing for new parents who don’t have time to shop.”
Customers care less about features and more about benefits. How do you make their life better, cheaper, easier, or faster? Clear differentiation builds trust and makes marketing more effective.
6. Build Networks and Partnerships
No founder succeeds alone. Relationships can open doors to customers, mentors, investors, and collaborators.
Ways to build your network:
- Attend local events and workshops (like SK Startup sessions).
- Join industry associations or online communities.
- Ask other founders for introductions to suppliers, partners, or advisors.
Strong networks can help you find early adopters, solve problems faster, and feel less isolated in the startup journey.
7. Stay Agile and Ready to Pivot
Markets change, customer needs shift, and sometimes your first idea doesn’t work. That’s not failure — it’s part of the process.
A pivot might mean:
- Changing your target audience.
- Adjusting your pricing model.
- Offering a different product than you started with.
The startups that survive aren’t necessarily the ones with the best initial idea. They’re the ones that adapt the fastest.
8. Use Technology to Your Advantage
Today’s founders have more tools available than ever before. You don’t need to hire a big team or build everything from scratch.
- AI tools like ChatGPT can help with emails, business plans, and marketing drafts.
- No-code platforms let you build websites or apps without hiring developers.
- Affordable SaaS (software as a service) tools cover accounting, scheduling, and project management.
Leverage technology to save time and money so you can focus on customers.
9. Focus on Customer Experience
Winning your first customers is only the beginning. Keeping them is what builds stability.
In the early days, overdeliver wherever you can. That might mean answering emails quickly, adding personal touches, or giving a little extra value. Delighted customers become repeat buyers and often refer others.
Think of every interaction as an opportunity to build loyalty. A strong reputation early can set you apart in crowded markets.
10. Build Founder Resilience
Finally, don’t forget about yourself. Startups are demanding and can take a toll on your health, relationships, and mental well-being.
- Set boundaries to avoid burnout.
- Take care of your physical health.
- Find mentors or peers to talk with when things get tough.
Persistence often matters more than genius. Many successful founders will tell you they simply kept going when others gave up.
Final Thoughts
Surviving the startup journey isn’t about doing everything at once. It’s about focusing on the right things and doing them well:
- Solve real problems.
- Stay lean.
- Test fast and manage cash carefully.
- Build strong networks.
- Take care of yourself.
Remember, you don’t have to figure it all out alone. There are programs, advisors, and resources available through SK Startup and other organizations in Saskatchewan. Whether you’re looking for mentorship, market research, or practical guides, help is closer than you think.
Launching a business will always be challenging, but with the right habits, resilience, and support, you can dramatically improve your odds of success.
