Startup Series: Visualising success is the best way to prepare for it, but it comes with its share of inconveniences
So the first tip to prepare for success — visualise it.
Failed ventures provide the opportunity for a lot more reflection and embody a lot more learning for founders than successful ventures do.
It wont be much fun if your company is celebrating milestones and you are sitting under your desk rendered immobile by your anxiety.
One of the most common disagreements arise from the ownership of things that founders may bring to the potluck called the startup.
Here are some pointers with helping founders find people for their teams.
This column draws upon the several startup situations I have been or advised in and covers some essential considerations in such a discussion.
Those in solid founder teams too don't just have a collective experience; they also have their own, personal experiences of the founding journey.
The excessive media focus on techies as startup founders often makes non-techies doubt their ability to found and build a startup and create value.
Asking for help is an essential founder survival skill.
As we have discussed before in this column series, founders benefit from creating a scaffold, a structure that enables future success at scale, without them needing to come back later and fix things that should have been done right the first time.
A healthcare startup founder I know was in a dilemma. For a pretty sizeable chunk of the equity pie, she had agreed to take on as cofounder a tech development guy. He would in turn build the platform which would enable her business model. As delivered, the platform however was far from adequate.
A startup, while it works to make revenue with its product or service, incurs essential costs. A shoestring budget calls for resourcefulness and creativity in building the business.
An MVP, as founders will know, is a bare-bones prototype that can be used to test if the dream should remain a dream or if some elbow grease may help its realisation.
The search for a co-founder is analogous to dating. There is an ideal checklist of attributes — skills, qualities and more as you will see — and then there is the ineffable chemistry check.
Startup Series: What are some of the smart ways of running a start-up? To run it frugal is a good start.
Investors are beginning to appreciate start-ups that are scrappy, survive on meagre budgets and are therefore able to weather downswings with minimal damage.