This is a simple reminder from Cassey Ho, an entrepreneur, startup founder about focus on projections. Numbers are very exciting in a startup world, esp because you can see some quick changes. The results are often slow and painstaking, but just a reminder that it isn’t all about numbers.
Don’t assume that borrowing lots of money can make your startup fly: We know that funding is one of the most common reasons why a startup fails. This quote however highlights that apart from funding, there are several other challenges that a founder should navigate through. Funding is only a part of the problem solved. It gives you an opportunity to expand, but you ought to reach some requirements such as product market fit, customer agreements etc to make this viable.
Though it sounds a bit crass, the quote makes an important point about taking swift decisions in a startup. We always get caught up between strategy and acting fast. In most cases, it is also called being tactical. For a startup, both strategy and tactics go hand in hand. We are forced to take some decisions quickly and have little time to strategise about its wider impact. One may even argue that strategy is a challenge with a scale up rather than early stages of startup.
Ideas are like rabbits: A startup is much more than an idea. Most literature tends to either romanticise the idea or grit of an entrepreneur. What if I told you that the truth was somewhere in the middle? I believe that the beauty of startups is in a great execution of an idea. The idea … Read more
If you’re starting something new: This discussion takes you through key tenets of running a startup, the primary one among them being true passion about what you are doing. Running a startup takes a lot more than courage or liking towards a particular subject. You’re starting something new and taking full ownership of an idea. … Read more
Recruitment in Startup: Recruitment is never an easy topic to talk about. Even the best companies struggle with getting the right people for the right job. In a startup, this challenge is even more complex because the profile you’re hiring for needs more than a few specialised skillsets. I’ve always found that startups look for … Read more
For an early stage startup, valuation is very difficult. The best way to do this is to find a competitor or a similar business. Make an assumption about a % of market capture to give you an idea for initial valuation. Ultimately your startup value is based on
Author: Rifat Starting a business is challenging at the very least; it entails making critical financial decisions, planning, and doing a series of legal activities. It requires step by step guidelines involving business-oriented and creative procedures. Sure while most people can start a business, few can sustain it successfully, and that’s why each step is crucial. But … Read more
It all starts with the right team. If you’ve led a team before, you already know that managing and leading a team is hard work. It is difficult even in a company where HR policies are established and good reward structures are in place. However, as a startup, you possess something magical that these companies and teams don’t.
I often find the roles of customer service management quite stressful and have a lot of respect for the people on the front lines. It is never easy dealing with an unhappy customer. At the same time, business longevity and strategy point us to working towards an inflated sense of customer delight.