1. Raise money from Angel Investor.

But you really need to be sure that you're building something unique but it's gonna be scaling really fast.

Because if it's just another you know - bakery store and you're thinking of creating a new chain...

...Starbucks type. This is not really a VC business.

You can't really scale it even if you have millions of dollars. Sometimes you think that you need to raise money for your business just because you need to pay yourself...

This is a completely different story.

There is money that your business needs and there is money that you need.

And this story with the money that you need is sold in a different way. it doesn't mean you need to raise money for your business...

...that means you need to save some money for yourself.

2. Save up some money for yourself.




...and I would say, have at least six months of run right.

When I started a business I lived with my parents and I ate my parents food. I relied on their salaries. I didn't have a lot of savings.

but:

I was also 21 years old.

if you're older, if you have a family, if you have responsibilities like maybe you already have a mortgage or whatever...

...I would advise you to start thinking about your business while working for somebody else.

So you work for somebody else — you spend your evenings and your weekends thinking about your business idea and saving money.

So again you need to have at least six months worth of run-rate in order to start your own company and not run out of money right away.

Sometimes I feel that you want to raise money for your company just because you need another approval.

Not because you really need their money but just because you want to hear it from somebody else like yes your business idea is worth something...

...because it seems that there is no other way for you to know whether your business idea is worth it unless somebody invest in it.

But there's a thing you can do, you can run a very quick trial.

And I've done that on Silicon Valley girl I've done that with some of my products.

I run ads before actually creating the product. I create a simple landing page which can be created for free.

I create a very simple offer and I ask people to sign up and then you spend maybe okay fifty dollars on Facebook ads.

but:

that would already show you the conversion rate. That would already show you whether there's interest for your product .

Again with Lingua trip we started by doing everything manually...

...yes we had an idea of this amazing automated platform but it later took us three years to code it.

But I was really really happy that we already had clients that were paying —because they were just proving that our idea is worth it and I knew I'm gonna make life easier for them.

So try and run a small trial maybe ask people to sign up for an email. Maybe provide a service to your friends.

Because I guess a lot of people who are starting their businesses right now — they are relying on their own experience —they are relying on their own area of expertise.

Maybe it's a free consultation — maybe you here doing a social media gig...

Then do something for free.  Ask for views.

And this is another way for you to understand whether the business idea is worth it and get some reviews as well.