be VERY careful what you chose to enter.
Pick a business area that you have ACTUAL knowledge about.
If you aren’t knowledgeable and experienced at programming, avoid doing a tech start up where you’ll be very dependent on others to do the designing & coding - they can easily ‘snow’ with BS as to why something’s taking too long or doesn’t work as required.
Unless you have Founding partners who know the industry you’re trying to enter, you risk wasting a lot of time & money chasing multiple ‘opportunities’ that turn into deadends.
The more you know the target’s needs, working environment, frustrations & gaps, the better your chance of picking a winning service/product idea to develop.
Get paying customers before spending more than $20-30,000 on any development work. If you can’t get paying customers within the 1st 6 months, re-evaluate your start-up idea.
Traction & a validated ‘product/market fit’ matters WAY MORE than passion or how much YOU believe in your idea.
Keep in mind the fact that you’re much more likely to fail than succeed - especially during your first couple of start-ups. be cautions and DON’T go more than $40,000 into debt without tangible sales and a growing client base. Loads of people hang on too long to bad ideas because they feel trapped by the money they’ve already put in.
Time is NOT your friend. It’s gold - don’t waste it, 'cause you don’t evet get it back.
Don’t be afraid to admit you were wrong or the market just isn’t there/ready.
Leave your ego at home & don’t take things personally. Remember that no one owes you anything and Life isn’t ‘fair’.
Look and ask for all the help you can get - especially buriness guidance and financial support.
be VERY careful what you chose to enter.
Pick a business area that you have ACTUAL knowledge about.
If you aren’t knowledgeable and experienced at programming, avoid doing a tech start up where you’ll be very dependent on others to do the designing & coding - they can easily ‘snow’ with BS as to why something’s taking too long or doesn’t work as required.
Unless you have Founding partners who know the industry you’re trying to enter, you risk wasting a lot of time & money chasing multiple ‘opportunities’ that turn into deadends.
The more you know the target’s needs, working environment, frustrations & gaps, the better your chance of picking a winning service/product idea to develop.
Get paying customers before spending more than $20-30,000 on any development work. If you can’t get paying customers within the 1st 6 months, re-evaluate your start-up idea.
Traction & a validated ‘product/market fit’ matters WAY MORE than passion or how much YOU believe in your idea.
Keep in mind the fact that you’re much more likely to fail than succeed - especially during your first couple of start-ups. be cautions and DON’T go more than $40,000 into debt without tangible sales and a growing client base. Loads of people hang on too long to bad ideas because they feel trapped by the money they’ve already put in.
Time is NOT your friend. It’s gold - don’t waste it, 'cause you don’t evet get it back.
Don’t be afraid to admit you were wrong or the market just isn’t there/ready.
Leave your ego at home & don’t take things personally. Remember that no one owes you anything and Life isn’t ‘fair’.
Look and ask for all the help you can get - especially buriness guidance and financial support.
Entrepreneurship is a tough gig.
good luck.