If you have ever asked yourself why rich people get richer and poor people get poorer - this article is for you
Let’s see why it is so hard to leave the poverty land and acquire the rich people mentality.
To fully understand the problem, let’s illustrate the differences between a person being born into a wealthy family versus a person being born into a regular one.
Best way to get invested in is not to ask for money.
If you want to secure an investment from a reputable investor or a VC fund you have to use the reverse pitch method
Exaltatio - Latin for a state of being carried away by overwhelming emotion
May you live in interesting times - English curse
If you want your team to be efficient, you will have to nurture and grow your own talent. It may be very seductive to hire an on- or an off-shore software development shop to quickly build out your product but it’s a slippery slope if you are planning to build a proper company and not just ride the hype wave and hope you will sell out soon.
Everything written below is highly influenced by my personal experience and talks that were given by the people I’m following.
If you’re long enough in the tech business, you should have heard a tale about 3H that every startup needs. In order for a startup to become successful it needs 3 founders:
First thing you have to understand is the products don't sell themselves. Build it and they will come - never works.
You will have to do marketing for your product or service.
If you want to successfully sell your product or service, you should sell a story.
When I was setting up the Mbanq Labs accelerator in Singapore, I had a chance to talk to many founders and consult a lot of startups.
What was striking to me, besides their eagerness to build their products, is how hard it was for them to clearly articulate the idea of their product in one sentence.
Product is at the center of your startup. Your product is what it’s all about. When I say product, I don’t talk about the idea. Idea on its own is worth nothing. Ideas are a dime a dozen - everyone has them but not everyone is able to bring their idea to life.
Startups are hard. Successful startups are even harder. Don’t let you tell otherwise. If it wasn’t hard, everyone would be a successful entrepreneur.
All successful startups are product oriented. All successful products are customer oriented, even if the initial customer is the entrepreneur himself.