Startup? Funding? Incubation? Mentoring? If these terms excite you, then it’s about time you give starting your own venture a serious thought. The journey isn’t a walk in the park, but if you have faith in yourself and your idea, it will all be worth it in the end. Starting-up today ain’t as hard as it was a couple of decades ago and that’s exactly what this article is all about.
Having an awesome business idea is one thing, but knowing how to correctly file taxes, or understanding the difference between LLP and a Sole proprietorship, or getting a hold on social media and offline marketing can quickly become overwhelming. There is a number of several factors that an entrepreneur needs to look into, before taking the plunge. Here is a couple of them:
Importance of Funding for a startup:
Unless your parent’s names are Mark Zuckerberg and Priscilla Chan, everyone needs funding at some point or the other. Startups should only go for raising funds if the need is that crucial. Other than that, an entrepreneur should only aim to make a difference by innovating for the masses. The journey to go from zero to one is the one that everyone should have set his goals for, funding should just be a catalyst for that transition.
Importance of a Mentor for a startup:
Having a mentor doesn’t mean an entrepreneur will never make a mistake, but it will at least ensure the person won’t repeat the mistakes made before him by someone else. The experience of a mentor is priceless and that’s exactly what a startup should look for in a mentor. So, If you think a mentor can expedite your startup development, never hesitate to ask for help. Eklavya had to give up his thumb for Dronacharya, mentors don’t go that far anymore.
For the students, who don’t want to be tied down by assignments and exams, if entrepreneurship makes you feel alive – then start right away, however small a venture – just start. Wisdom, Contacts, Value are some of the other basic attributes that an investor brings along with himself, other than his investment – try to leverage that in your favor. Like the helicopter shot is for MS Dhoni and freekick goals are for Beckham, every entrepreneur needs a secret weapon. That is exactly what a Mentor is for a startup. What’s stopping you from starting and running the next unicorn startup?