With over 90 percent of startups failing, stacking the odds in your favor is a must if you’re a founder. I’m mentioned in Medium’s article from the Founder Institute thanks to my article “10 Lessons to Learn from Failing Startups (Including My Own),” where I share my many failures with readers, starting with making sure customers actually like the idea of your business. It seems obvious, but it’s a step a lot of people forget about!
You also need to realize how important the team is, from partners to co-founders. Everyone should be equally hyped about the mission of the company. Shared values and goals are critical, and should take precedence over other factors (like experience in some cases!).
Understanding when to be aggressive and how is of utmost importance because there are bound to be numerous times when tough calls will have to be made. Putting fundraising at your core and realizing how much time it will take is also important. You need to be focused on financials at all times, beyond solely fundraising, all while ensuring a long-term strategy is held.
Startups are fragile systems in need of nurturing. Finding the best investors is a must and coming up with a revenue model that works for you is also necessary. For more information, read the full article here: