"Time is money" - the proverb said. Perhaps it’s even more valuable than money, because we believe that the steps we are about to present you are critical and far more important than raising money in the early stages of a startup.
"If only I had the money ...". This is a common thought, and any entrepreneur knows what we are talking about. We understand that raising money is a key part to put your idea into practice. But there are tasks that you must invest your time wisely to ensure that success pays you a visit.
This is our list of 4 tasks that require attention in the first stages of your venture.
1. No team, no game
Have you ever thought how inconvenient it would be to have a great idea and not be able to put it into practice because you don't have the necessary skills to do it?
It is completely necessary to invest some time in building a good team, with different areas of expertise.
Remember: a team is essential for high performance in any business because people are working towards a shared purpose. And to do so, they share their varied skills in complementary roles and in cooperation with their colleagues.
Also, having a strong team is something that all investors take into account when meeting an early-stage startup.
2. Talk to people
When we say to talk to people we mean talking to potential customers, in order to understand if your product or service fits the market.
Doing validation experiments, gathering feedback from existing or potential customers should be a priority. While it doesn’t increase your revenue, it will surely help you understand if you are going in the right direction and if your idea will really succeed.
Don't lose your time working on ideas that don't work.
3. Prove the value of your idea
Have you identified a market need? Good! Now you just need to demonstrate it. Especially to those who will invest in your project in the future. Investors need proof that your product can move to the next stage successfully. And, believe us, you can create a POC (Proof-of-Concept) or a prototype without having to pay exorbitant amounts of money.
4. With help is better
It is very difficult for you to succeed without the help of the right people. Asking for support is a fundamental aspect, because good advisors will be able to help with everything from the startup strategy to the investment phase.
Our advice is to expand your network and create valuable and relevant connections for your business. Don't be shy, in this world you will need guidance and help from those who understand the subject. And you would be amazed at how many people are ready to lend a hand. But be sure you make two things very clear:
Your goal. How can others help you? What are you looking for?
Reason to believe and help. It’s important to prove your worth and give something in return. How can my venture be useful to the other party? Remember: networking involves a win-win relationship.
Accelerators also usually make good bridges between entrepreneurs and mentors and they can easily help you to increase your network, through programs and initiatives for startups at an early stage.
If you have a business idea and need a helping hand to move it to action, we may be able to help you.
Also read: Tips to keep your team motivated, remotely