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Vikas Acharya
•
Welbe • 1d
𝗔𝗱𝘃𝗶𝗰𝗲 𝘁𝗼 𝘆𝗼𝘂𝗻𝗴 𝗲𝗻𝘁𝗿𝗲𝗽𝗿𝗲𝗻𝗲𝘂𝗿𝘀 -𝟰 1.Choose your field very carefully - there must be a huge' (large is not good enough) market and potential. If you don't have personal expertise in this field, get a team of domain experts locked-in, preferably as partners or co-founders. 2. Plan your funding very carefully - ideally raise as little cash as possible in the pre-revenue stage as you end up diluting too much equity. Try raising the first round from angel investors as it is most time-efficient and typically you will get the best terms. However, for later rounds, never risk starving your company of cash; this has killed many good companies! 3. It's all about people hire the best folks in the business. Don't hesitate to hire people better than yourself in that specific area. Colleagues who challenge and make you feel uncomfortable are your best friends and the 'yes men' are your worst enemies! 4. Make friends at work and promote an honest and open working atmosphere. Ensure everyone has fun at work. People tend to give their best when they are enjoying their work. 5. Don't focus too much on exits (especially not too early in the game). Concentrate on building a solid business, the rest will take care of itself! 𝘿𝙚𝙚𝙥 𝙠𝙖𝙡𝙧𝙖 / 𝙈𝙖𝙠𝙚 𝙢𝙮 𝙩𝙧𝙞𝙥
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