The young company needs many founders and employees to handle the company because there is not only one work to be done; there are many things to achieve the goal of the organisation. If you have a single founder you have almost zero chance of getting the funding or profit in the organisation. Founders who succeeded they work as a team of at least of two people. If you have no budget for marketing and you are in a beginning stage then do the market research and marketing planning first. If you are doing a startup then the first recommendation is to go and see your local city chamber, they often have a group available to start ups like yours get up and running with professional consulting and help.
What you should not do:1.
Search Bad Location - Startups prosper in some places and not others. You can change everything in a house but its a location. It means if your startup is based in a bad location, then you can’t change the nature of that location. So its better to end up with the startup.
2.
Poor Investor Management - If you have the choice between making investors happy or making your users happy then at that point always choose the users because if the user is happy then your investors will automatically make money. A lot of its energy got drained away in disputes with investors instead of going into the product. But this was less costly than giving in, which would probably have destroyed the company. If the founders know what they're the full attention of investors who don't.
3.
Burning money - Burning money is not as common as it used to be and founders seem to have learned that lesson with the mistake. Plus it keeps getting cheaper to start a startup. You need to have a back up. Spending all what you have is not a smart man's job. Aspiring entrepreneurs should be aware of the legality prevailing, so that they can save themselves from being fooled.
4.
Launching very Early - Launching too slowly has probably killed a hundred times more startups than launching too fast, but it is possible to launch too fast. The danger here is that you ruin your reputation. You launch something too early, though, and you may be completely unprepared to handle your growth or worse yet to present a usable product.
5.
Delay in Launching - One reason to launch quickly is that it forces you to actually finish some quantum of work. The more you delay the launch the more you delay getting the answer. Before you actually launch you are in the dark about whether your startup should even exist.
6.
Opting the Wrong Platform - The scary thing about platforms is that there are always some that seem to outsiders to be fine, responsible choices and yet, like Windows in the 90s, will destroy you if you choose them. On the wrong platform the scalability will be the bottleneck. So users often don’t wait for you to figure it out.
7.
Single Founder - Starting a startup is too hard for one person. Even if you could do all the work yourself, you need colleagues with innovative ideas, to talk you out of stupid decisions, and to cheer you up when things go wrong. The single founder will have a zero chance of getting funding. At least a team of two people can also achieve the goal of the organisation.
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Divya Kucreja is pursuing her Bachelors in Journalism and Mass communication from Chandigarh university. Her hobbies include Acting, Traveling, and Interacting with new people. She loves theater. She wants to become an anchor.
