4 Things You Should Be Aware of if you are Launching a Startup

Entrepreneur, Startup, Business Planning

Some Things You Should Be Aware of if you are Launching a Startup

If you are planning to take the plunge into the startup space, you should know that it’s no less than a rollercoaster ride and you will have your fair share of ups and down.

Here are some points you should be aware of if you are going to be an entrepreneur:
#1: When an investor doesn’t want to invest, they will make all kinds of excuses
There are a number of reasons why an investor might not want to invest in your venture. If a ‘no’ is what you seem to be getting from more than one investor, make it a point to ask them what you could have done differently to add punch to your pitch. Implementing on the feedback they give you will help you improve your pitch, which will improve your chances of raising money.

#2: Just because you’ve raised a significant amount of money, doesn’t mean your salary will increase.
If you raise a large amount of seed money, you might feel that it would enable you to take home a fat salary. However, the one thing you must know is that if you take a higher salary, it will also up the overall burn; which means your company would have to then raise even more money at a faster pace. In turn, this would cause much more dilution for you and your partners (if any).

#3: 90% of startup networking events turn out to be nothing more than a waste of time
The things you learn at any startup networking event are things you can easily learn online. The one difference is that attending a startup event will cost you precious dollars. While there are definitely some events that are worth attending, most of them aren’t. The good events are invite only and more intimate. It’s not easy to get into these, but if you are able to, it’s definitely worth it.

#4: Don’t delay starting to making money
Once you have raised money for the first time, you will find that you aren’t too motivated to quickly create an effective revenue stream for your venture. At this point you are more focused on building the product, rather than building a customer base. This is why you should prioritize selling early in the game and start making money as soon as you are able to.

Always look for experienced employees; they are far better than hungry ones and very importantly, when you decide to take the dive into entrepreneurial waters, ensure that you are doing so in an industry you really like and are passionate about.

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Business & Marketing Tips: 4 Things You Should Be Aware of if you are Launching a Startup
4 Things You Should Be Aware of if you are Launching a Startup
Entrepreneur, Startup, Business Planning
Business & Marketing Tips
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