How to get your start-up off the ground

By May 18, 2015 Uncategorized No Comments

Most entrepreneurs are outstanding in their ideas and innovation. However, seldom do they know how to drive/lead and build a successful venture in a short period of time; unless of course, they are serial entrepreneurs.

First-time entrepreneurs have few options:

  • Appoint external Board Members through personal networks.  The challenge is to find the right members who are willing to teach and mentor, and have a passion for what you do.
  • Opt to obtain VC assistance.  The risk with this approach is that you have to dilute a large chunk of ownership.  Also, unlike a group of investors working hand-in-hand, a VC only provides financial aid, with no personalised assistance.
  • Convince a partner to join the startup.  Though this attempt has had better success, the key is in securing a partner who will be with you in the ditches during trying times; much like a marriage.  Trust too plays an important part here.  Ensure your intentions, visions and goals are all aligned towards the same objectives.
  • Another powerful option is to find a ‘Startup Accelerator’ who has an unquenchable passion for startups and the right experience to help a new entrepreneur to accelerate Business setup and Tech innovation.

A good partner is critical for any entrepreneur in order to design and scale rapidly.  Even Steve Jobs couldn’t do it alone –  he joined up with Steve Wozniak to create Apple.

It is paramount to find people who bring different skills and viewpoints to the table.  The sole purpose of mitra innovation is to help individuals, teams and organisations to innovate better and faster, and also assist in enhancing their capacity to do so.

Benefits:  You can minimise failures, avoid mistakes made by others, network effectively, broaden your thinking, go global and ensure you succeed faster.

Ashok Suppiah, CEO, mitra innovation

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