When starting your company you should know the reason behind it. Is it because because the idea you want to work on solves a real problem or because a similar product was sold for $100million. Well not that it is bad because we all want money, but if that’s what drives you then your idea is already a walking dead. Your idea should solve real problems, because when you solve problems money comes automatically. All inventions started from “idea” but it was careful planning and execution of the idea that made the invention. Have a plan to sell your product, a nice website or app won’t bring customers. do a proper research on the market and focus on solving the market problems. Don’t just build a website or an app an expect an investor to put his hard earned money(even if it’s not hard earned) money into it. It may have worked for your friend but you are not your friend. Start with enough money in your bank account that can sustain you for at least a year. Now most startups focus more on getting featured on top blogs/website, that is not bad but focus more on build a great product…how will you feel after after paying for sponsored post your product can live up to the hype. Finding the right people is hard…. but when you find them be ready to pay. Your team should consist of some people who have worked for a startup so that they can bring in their experience to help grow the company. When raising funds know how much your company really needs and put the money where it is needed. It is also not bad to do a background check on your potential investors. 

EXPECT CHALLENGES: Don’t think being an entrepreneur is easy. Be ready to face challenges even if you are doing everything right.

In the entrepreneurship journey you can never arrive……it’s a non-stop journey so be positive and focus on things that keeps you grounded. Listen to motivational speakers and attend entrepreneurship events… it gives a you platform to network with other top entrepreneur. You should have a mentor whom you can call when you are faced with tough decisions. Your team should believe in themselves surrounding yourself with people that despair when faced with little problems can hurt the company. As a leader you should listen more and talk less because you gain more by listening than talking. You will make mistakes but always learn from them and be ready to try again but be very cautious because mistakes consumes money. A great product is built on these things not idea’s only. Remember everybody has their own definition of success find yours.

Don’t dream too much, wake up and achieve the dreams.

Article written by Emeka Utchay Blogger @ pundittech..com.

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