(This was my answer to a question on Quora)
I am a passionate supporter of entrepreneurship as a career option. Yet I advise individuals that their decision to become an entrepreneur must be a cautiously considered one.
Entrepreneurship is exciting. It is a creative process. It gives you the freedom to create new products or services. And create new value propositions. It gives you an opportunity to create wealth, and/or positively impact the quality of life. It allows you to chart a new path for yourself, and those who believe enough in you and your vision to join you in the journey. Most importantly, as an entrepreneur you create jobs.
For someone who is 23-year-old, I see no downsides of pursuing an entrepreneurial dream. Even if the venture fails, and it could, all you would have lost is a year or two of salary that you may have got in a job. But, even if the venture fails and you have to go back to a job, the entrepreneurial experience will make you far more suitable candidate than someone with similar qualifications but with no entrepreneurial experience. (Ask any HR person, and they will concur.). Continue reading “What are the pros and cons of pursuing entrepreneurship at 23?”
Entrepreneurs should define the model of engagement with an advisor very carefully BEFORE starting the engagement, so that expectations are set right at the beginning.
10% equity for an advisor role is simply excessive. Not just in the generally accepted model of ‘advisors’ (i.e. where an experienced individual guides the company with his/her perspectives and insights), but it is excessive even if the individual was providing advisor services as a commercial model, with clearly defined outcomes. Continue reading “What do you do when someone who was helping you in your startup in an advisory role asks for 10% in equity as compensation?”
As with many aspects about business and entrepreneurship, there is no clear ‘yes’ or ‘no’ answer to this question.
It depends on a number of factors. Ideally at the seed stage entrepreneurs should seek investors who will help them in the formative stages of the venture. Individuals who can provide an experienced perspective, or who can provide an experienced opinion to help make choices, or who can make introductions to potential customers, etc. are ideal investors in a startup stage.
Continue reading “Does it matter who invests in the seed stage of a startup?”
Think carefully before you answer. Because, this question is not about distinguishing good entrepreneurs from the bad ones. It’s also not about who among them has a Midas touch and who doesn’t.
Continue reading “What Makes an Entrepreneur? A Look at Their 5 Die-Hard Traits!”
THE BEST WAYS TO GET YOUR BOOTSTRAP BRAND OFF THE GROUND
You are ready to get your brand off the ground. It’s an exciting time. There are going to be lots of challenges in order to get your voice out there. You are basically competing in two categories. You are competing with those who are already in your industry brand. You are also going up against the other messages that people are sending.
Continue reading “Guest Post – Digital Marketing Tips for Bootstrapped Startups”
I was part of the jury at Conquest 2015, the annual startup fest and B-Plan competition of BITS Pilani. Conquest is perhaps, one of the most meaningful Business Plan competitions in the country. The Conquest team makes efforts to provide mentoring support to shortlisted teams, so that their plans are refined by the time they get to the finals. The program is designed and executed entirely by students.
Continue reading “Some Tips For Startups Presenting In B-Plan Competitions”
While most entrepreneurs think of VC funding as the most obvious way of funding their startups, there are actually many different ways in which you can fund your startup.
Getting Risk Capital I.E. Angel Investors Or Venture Capitalist – VCs
Angel investors or VCs are investors who give you capital in exchange of equity in the company.
Continue reading “Angel investors, VCs and other funding options for startups”