World’s one of the best known magazine Forbes’ Technology Council published an article about High-tech startups. We summarised those 10 advices for you.
Prayag Narula, CEO and Co-Founder of LeadGenius, starts his words with this paragraph: “High-tech startups are complex and unpredictable. There are no recipes for success. A high-tech startup is hard to build, harder to grow and almost impossible to turn into a success. However, every entrepreneur, once they have been in business for a few years, sees enough problems and patterns to create certain rules to live by. The ones listed below are mine.” Narula also adding to his words that those advices based on his own experiences.
Let’s check those advices out!
1.Always Keep Death In Mind
Being paranoid about your startup kind of necessary, always be looking out for problems that can kill your startup.
2.Spread The Stakes
Enlist as many stakeholders and well-wishers to the mission as possible. Let people, your customer & employees understand you vision. When people understood it will give you their support and this is important for your startup’s success.
3.Raise More Money Than You Need
If you have decided to raise some money for you startup, try to get more money than you need. That will give you little peace of mind for unpredictable expenses.
Keep your eyes open on finance issue. Take yourself a trustworthy financial officer but also don’t disregard to check the numbers.
5.Hire Aggressively, Fire With Speed And Empathy
When you’re hiring someone make them feel the value of your company and the job offer that you’re proposing them. Be equal to candidates. Don’t forget the fact that one good employee can change your startup’s destiny and for the opposite this job can change the candidates’ carrier. Finally when you find the good one for your start up, don’t hesitate to do best you can for hiring.
When it’s come to firing an employee, take your steps with empathy. Don’t waste both yours and the employee’s time. Eventually there is no sense of keeping a person who can harm your startup and other employee’s work environment. Don’t hesitate to use your severance and help the one you’re firing.
Keep the control of your startup’s control as long as you can. In the end you founded this company and you’re spiritual leader of it. If you ever decided to fundraise your company, ask one chair for you too.
7.Negotiate With Conviction
Doesn’t matter whom you are negotiating -your customer, your investor or your partner- or whatever you’re negotiating you have more leverage than you think. Don‘t hesitate to use that leverage.
8.Be Generous And Empathetic
Don’t forget to be flexible and fair with your customers, employees and partners. Different point of view than yours can make you see the things from another perspective. Be generous on your relations. “Building a company is a marathon and you will need as much goodwill as you can get.”
9.Don’t Underestimate The Value Of Experience
Founders, especially if they are young, can underestimate the power of experienced employee. However those experienced ones can prevent possible failure of your startup with their knowledge.
10.Don’t Get Intimidated By Names Or Reputation
Don’t be scared from big and bureaucratic names. Your passionate and faithful presentation about your startup can open the door seem closed. Trust your own passion.
Narula, finising his advices with those words: “Above all, have fun. It’s an absolute blessing to be given an opportunity to bring your vision to life.”
For the original article click please click here.