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5 common mistakes by first-time startup founders and how to avoid them
Internet
·
1y ago
Medial
First-time startup founders often make mistakes such as hiring full-time employees before achieving product-market fit, deprioritizing offshore talent, holding on to their first idea too long, building a bigger MVP than necessary, and not having a marketing co-founder. Avoiding these pitfalls involves hiring flexible talent, iterating quickly, testing small product areas, and ensuring focused growth efforts. Engaging with other founders for advice is also beneficial.
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Announcing the 2nd cohort of FounderX – Kickstart your founder journey in 2024!
Inc42
·
1y ago
Medial
FounderX, a fellowship program by Inc42, is accepting applications for its second cohort starting in February 2024. The program aims to equip aspiring entrepreneurs with the skills, mindset, and network to succeed in building their own startups. Participants will learn a structured approach to startup creation and receive guidance from top founders and investors in India. The program focuses on helping founders navigate the initial stages of entrepreneurship and avoid common mistakes made by first-time founders. Interested individuals can apply to join the fellowship and take the leap into entrepreneurship.
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Fundraising Mistakes Founders Make
Internet
·
5m ago
Medial
In his blog post, Sam Altman outlines key fundraising mistakes that founders often make. He warns against over-complicating the fundraising process, emphasizing that a strong company will attract investors naturally. Founders should focus on creating a competitive environment and avoid chasing unrealistic valuations, which can alienate potential investors. Altman stresses the importance of building a relationship with a lead investor and pitching passionately about what excites them. Additionally, he advises founders to conduct reference checks on investors, maintain a clear vision, and know their key metrics. Ultimately, authenticity and trustworthiness are crucial for successful fundraising efforts.
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Career mistakes to avoid as a developer
Medial
·
1y ago
Medial
The author, drawing on 18 years of software engineering experience, shares insights on building a successful career. Emphasizing the importance of setting long-term goals, understanding one's potential, and effective networking, the article addresses common career mistakes to avoid. Key points include time management, consistent upskilling, asking questions, considering work-life balance, and understanding the broader project context. The author highlights the significance of financial planning for stability and encourages a holistic view of career development, urging readers to embrace continuous improvement and stay open to learning from others' experiences. Read the source article by clicking "View Source" button below.
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Why Startups Fail | Lessons From 150 Founders
Internet
·
2m ago
Medial
Wilbur Labs surveyed over 150 startup founders to understand why startups fail and how to prevent it. Analyzing both survey results and CB Insights data, the study aims to provide data-driven answers amidst economic challenges like inflation and investment retraction. While new business formation remains high, nearly a fifth of startups shut down in their first year. The goal is to help would-be founders focus on what they can control, learn from others' mistakes, solve significant problems, and ultimately improve their chances of success. Go to the source and read now! Or save for later.
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How to build an 800+ CIBIL score and unlock top loans
Inshorts
·
2m ago
Medial
Maintaining an 800+ CIBIL score requires smart credit practices, timely repayments, and careful borrowing behaviour, according to experts. New insights highlight how good credit habits, avoiding common mistakes, and understanding borrowing trends can help individuals secure better loan offers and lower interest rates as India's lending landscape evolves.
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Startup Mahakumbh: MSH Hosts Industry Veterans To Discuss Fundraising Playbook For Founders
Inc42
·
1y ago
Medial
The Ministry of Electronics and Information Technology (MeitY) Startup Hub (MSH) hosted two sessions on fundraising during the Startup Mahakumbh event in Delhi. The first session focused on mistakes and learnings for founders during the first round of fundraising, with prominent speakers sharing their insights. The second session provided entrepreneurs with strategies for securing seed funding, including tips on building relationships with investors and asking key questions. The discussions emphasized the importance of choosing the right investors and aligning funding with the growth phases of startups.
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Sharks or Dolphins? Ashneer Grover fires salvo amid escalating founder-investor rift on Shark Tank India
Money Control
·
2y ago
Medial
Many founders have alleged that the monies committed by the sharks on the show never reached them, in spite of chasing them to close. Sharks say deal closure takes time and that founders often do not comply with agreed terms.
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How To (Actually) Calculate CAC (Customer Acquisition Cost)?
Internet
·
1y ago
Medial
Brian Balfour explains the distinction between Customer Acquisition Cost (CAC) and Cost Per Acquisition (CPA), emphasizing that CAC measures the cost to acquire paying customers, while CPA measures costs for non-paying actions like registrations. He highlights common calculation mistakes, such as ignoring time lags and not including all relevant expenses, and provides examples and frameworks to accurately assess CAC for different business models. Click on source to read the full article.
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Almost 45% with seed funding are second-time founders: Report
Economic Times
·
7m ago
Medial
Nearly 45% of entrepreneurs who receive seed-stage funding for their startups are second-time founders, according to a report by Jungle Ventures. These founders raise significantly more funding than first-time entrepreneurs, with a median funding amount of $1.2 million, three times higher than the overall median. The report also highlights that second-time founders focus on top-funded sectors like fintech, retail, enterprise, and healthtech. Despite previous challenges, these entrepreneurs are still pursuing their ventures and successfully raising money. The seed-stage investment landscape is stabilizing, indicating the long-term sustainability of the startup ecosystem.
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Best friends as business partners: A winning formula
YourStory
·
10m ago
Medial
Friendship can significantly impact entrepreneurship by providing a foundation of trust, complementary skills, effective communication, and emotional support. On National Best Friend Day, the success of boAt co-founders Aman Gupta and Sameer Mehta illustrates how strong personal bonds can drive business growth. However, mixing personal and professional relationships requires clear boundaries and communication to avoid potential conflicts.
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