How to Start a Business: 10 Tips from Fasieh Mehta

Starting a business is an exhilarating journey filled with challenges and opportunities. Fasieh Mehta, Global Partnerships Director at Epic Games, recently shared his insights on starting a business in a podcast with Thought Behind Things. Drawing from his extensive experience in the gaming industry and his role in developing strategic partnerships, Mehta offers invaluable advice for aspiring entrepreneurs. Here are some key takeaways from his conversation.

1. Understand Your Market

Mehta emphasizes the importance of deeply understanding the market you are entering. Conduct thorough research to identify your target audience, understand their needs, and analyze your competitors. This foundational knowledge will help you refine your business idea and tailor your offerings to meet market demands.

2. Build Strong Relationships

In Mehta’s experience, building and nurturing strong relationships is crucial. Networking with industry experts, potential partners, and customers can provide you with valuable insights and opportunities. Establishing these connections early on can also lead to strategic partnerships that can propel your business forward.

3. Focus on Innovation

Innovation is at the heart of successful businesses, especially in the tech and gaming industries. Mehta advises entrepreneurs to prioritize creativity and innovation in their business models. Constantly seek ways to improve your products or services and stay ahead of industry trends to maintain a competitive edge.

4. Embrace Flexibility

Starting a business requires flexibility and adaptability. Mehta points out that being open to change and willing to pivot when necessary is crucial for long-term success. The ability to respond to market shifts and adapt your strategies can make a significant difference in your business’s growth trajectory.

5. Strategic Partnerships

Building strategic partnerships can be a game-changer for your business. Mehta’s role at Epic Games involves forging alliances that enhance the company’s reach and capabilities. Similarly, entrepreneurs should seek out partnerships that can offer resources, expertise, or access to new markets.

6. Prioritize Customer Feedback

Listening to your customers is essential for business success. Mehta highlights the value of customer feedback in refining your offerings and improving your business operations. Regularly solicit feedback from your customers and use it to make data-driven decisions.

7. Prepare for Challenges

Starting a business comes with its share of challenges. Mehta advises entrepreneurs to be prepared for obstacles and setbacks. Developing a resilient mindset and having a plan to address potential challenges will help you navigate the rough patches and keep your business on track.

8. Invest in Your Team

A strong team is crucial for the success of any business. Mehta underscores the importance of hiring talented individuals who share your vision and are committed to your business’s goals. Invest in your team’s growth and development to build a motivated and effective workforce.

9. Maintain Financial Discipline

Sound financial management is a cornerstone of business success. Mehta advises entrepreneurs to keep a close eye on their finances, manage their budgets wisely, and plan for long-term financial sustainability. Proper financial planning and discipline will help you avoid common pitfalls and achieve your business objectives.

10. Stay Passionate and Persistent

Lastly, Mehta’s journey underscores the importance of passion and persistence. Starting a business is a demanding endeavor, and maintaining a strong passion for your vision can drive you through difficult times. Persistence in the face of challenges is key to achieving long-term success.

Conclusion

Fasieh Mehta’s insights provide a valuable blueprint for anyone looking to start a business. By understanding your market, building strong relationships, focusing on innovation, and maintaining financial discipline, you can set a solid foundation for your entrepreneurial journey. Embrace these tips and let your passion and persistence guide you toward building a successful and impactful business.