Post by Trade Coach on Jun 30, 2017 21:59:18 GMT 1
When you decide to walk the path of the entrepreneur, there will be some things that you can handle fairly easily and most things you’ll have to figure out along the way. For the majority of founders, there are some common to dos you will encounter during the journey. Here are 10 common threads of to dos with founders.
Recruitment
A team with the proper skills and having a leader to delegate the right responsibility – the startup will be a success. It’s important to build a team who share your vision/passion and will contribute to the success of the startup. Finding the right talent for your team is a process and sometime taking your time to find the best fit is the best strategy.
Fundraising
One of the most challenging jobs for an entrepreneur is raising capital. By registering in AngelList you can easily track the fundraising efforts of companies like yours as well as the investors who focus on that area.
Customer Support
If you have started a service-based company, for the first few months, keep a sharp eye on the customer service. If possible attend the calls as it is your own designed product. You will be able to figure the expectations/needs of customers regarding your service. Taking care of your customers will help you succeed in the long run.
Tradeshows
Tradeshows are the hot places where you are exposed to the press/media, forge valuable partnerships and friendships. Although, your goal is not to be known as a “Conference Ho”, it is important to attend many conferences to get your startup noticed.
Long Hours
In the initial stages, you will have to face the grind more than when you have worked for some company. The hours may stretch to 80 hours per week or even more. Make sure to find some time to yourself to recover from the on-going stress and demand on your health.
Tough Decisions
You may have smart team members, but there will be times you may have to take harsh or smart decisions. In short, you should enjoy taking crucial decisions at the drop of a hat or else you will burn out.
Travel
Whether it be a conference, trade show or investor, you’ll end up traveling somewhere to showcase your startup. Remember that the crucial factor is your presence and not the $200 dollars that you spent on the taxi driver to reach the venue on time. Look at this as an opportunity for you to meet people, even your potential investor.
Humble Lifestyle
You might be stashing millions of dollars in the bank for your startup but remember it is the investor’s money. Staying humble will also contribute to the overall culture of the company and help retain your employees. Let’s face it, no one likes a jerk for a CEO
Risk
There is one word which describes a startup best – uncertainty. Ensure your focus does not shift from the goal of achieving success and focus on solving a problem for your customers.
Time
You are always racing against time to reduce your cost and to grow steady-fast. Remember, in this job profile, you might have to do the work of an entire organization. In the early days of forming an organization, you have to do many jobs such as HR, CEO, assistant, customer care executive etc. There isn’t enough time in the day to get everything done so focusing your efforts on the priorities to move the company forward is key.
Always think every challenge is a learning phase and you/your company will also become a success.
