Posts Tagged ‘strategy’

If you are planning to make entrepreneurship your future, then you probably think that you’re a fairly adaptable, fly by the seat of your pants kind of guy (or girl). That’s a good start, however, to achieve real success as an entrepreneur, you’re going to have to learn to change direction practically mid-sentence.

Here are the reasons why, as well as a few tips on how to make it a little easier.

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In the previous post we looked at what seeds funds are and why they are important.

In a recent blog post, Paul Kredowsky voiced his disapproval of the seed funding phenomenon. However, his post is less about the entrepreneur, than the seed funding companies themselves.
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The debate about whether the seed funding phenomenon is a bubble waiting to burst, or whether it’s a viable means of funding pre-revenue/start-up businesses still continues. This is my take on the landscape.

There was a time when if you wanted to fund your company you had four options, approach:

1. A bank
2. An angel investor
3. A venture capitalist

4. OR …… have an asinine risk tolerance and fund the project yourself with your own money.

At a certain threshold of funding, there was a catch twenty-two because banks are notoriously risk averse, and don’t normally fund businesses that have yet to prove themselves. Meanwhile, traditional VC firms couldn’t justify investing less than $3M-$5M in a Series A round, mainly because ROI based on growth trajectory (when investing in small amounts) wasn’t worth their while, especially when holding $700M+ under management.

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As the global economy undergoes more changes (and it will continue to do so) even more people will choose to take the plunge into entrepreneurship. Changes to corporate mindsets, downsizing and other upheavals in the “safe” world of formal employment are forcing many to embrace entrepreneurship, and start their own small businesses. Add to those the people with the burning desire to “be their own boss” and you have plenty of new entrants into the wonderful, frightening, exciting and exhausting world of being a business owner.

However, whatever your reasons for considering entrepreneurship instead of formal employment, there are a few traits you will need to cultivate in order to succeed.

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