At the beginning raising money actually curse you. At the beginning when you first starting out, It's better to raise just enough money to survive.
What you need to do at the beginning is figure out what to build.you don't even know what product will work when you first start.
The problem is if you raise money at the beginning, a lot of money, the venture capitals would want you to start marketing the product. They would want you to hire people. The would want you to grow your business.
When you grow your business, you have to stop experimenting, you have to start focusing on building the business, on bringing the customers, all those things.
but if you haven't figure out your product yet if you don't really know if it'll work.
you had building a business in the wrong direction that ends a failure.
figure out your business model.
Raising money does not help you succeed if you haven't figure out your business model。
So at the beginning when you starting your company you must realize that money will not make you succeed. Money is only good to raise after you figure out your business
Many startup founders fail because they don't really know who they are. they don't know what they good at.
Being a startup founder in a startup is very stressful. it causes it is a high-pressure job with a lot of uncertainty. If you are the type of person who doesn't deal with stress well. If you are the type of person who doesn't like uncertainties. you might not the one be a startup founder.
Great startup founders actually enjoy the challenges. They enjoy the challenge even when things go terribly wrong.
Other great quality of the startup CEO is leadership. It is absolutely critical that you be a good leader.
In Silicon Valley, we always say we invest in the team, not the product.
Why do we say this why we say the team is so important.
Because in a startup usually, everything changes. a lot type of your product changes, the market will change, the customer will change, the finding will change, but you stuck with your team.
If the team goes away, the startup usually fails. So investors in Silicon Valley, They look at the CEO. What they want to see is the CEO is a great strong leader.
But how can they tell? They can tell, the best way to tell is to look at who the CEO brought on the team. If the CEO is a great leader even if the startup has no money, the CEO will have brought very strong team members.
So when I look at the startup, I actually look at the people on the team and I want to see startup founder who
Subscribe to think it do it
Get the latest posts delivered right to your inbox