Top Advice for Entrepreneurs & New Startup Founders
Interview with Startup Expert on the best advice entrepreneurs and new founders need to know before beginning their venture:
What is the one piece of advice I would give to first-time entrepreneurs? The advice I would give is that you have to make sure that the people on your team are solid, that you have the right combination of potentially a hacker, a hustler, social media, maybe, and people that can find your product or promote your product the right way. The second thing is, as a first-time entrepreneur is to make sure that you have a product that people are willing to pay you for.
Instead of just hoping that they'll pay, go out before you build your product. This is something that's discussed in the Lean Startup Methodology, but before you go out and build a product and spend thousands of dollars, go test and find out from the consumers whether or not they'd be willing to pay for it. The third thing I would say for first-time entrepreneurs is to make sure to think about how to execute your brand and how to build your brand, so think five years into the future. How would people talk about your product? What would they say about it on social media? Would they promote it themselves and become evangelists? These are the things to consider when building a startup.
Lastly, as a first-time entrepreneur, it can be scary. The road's not easy. Maybe you've quit your job; maybe you're starting from scratch out of college. It doesn't matter your age, it's never easy. Make sure you find a mentor, somebody that you can relate to and somebody that will tell you what you need to hear, not what you want to hear. Hopefully, those are a good piece of advice for first-time entrepreneurs.