Startup

startup

Is now the right time to launch your start up? It is the challenge that many entrepreneurs face, a global pandemic and global recession are challenging companies and industries all over the world but times of significant change bring significant opportunity. “Times of rapid and dramatic change can shift the tectonic plates of opportunity. “ There are numerous companies that have actually done very well at this time as lifestyle changes have created new demands. Organisations that supply online solutions to buy quality food, fitness and home office equipment have all seen significant growth as people navigate what seems to be the new normal. And business models have changed too with emerging support for subscription for products as diverse as cleaning products, tea and toilet paper. Four tests that potential founders should consider before launching a new venture: Compelling Opportunity – Identifying compelling evidence of customer pain – often founders look to theirContinue Reading

The best opportunity for your startup survival in a recession and pandemic is to avoid making rash decisions. This article provides some tactics and strategies to manage during these difficult times Minimise There is every chance that when the pandemic hit your revenues reduced substantially. Which may well have sent you looking for funding sources to help you cover the shortfall. Before you seek out any more money from VCs or Investors consider all the costs that you can cut, reconsider the minimum viable product you are offering and what your customers really value. Skinny it all down to ride through the tough times with a plan. Switch If your business is struggling is there an alternative side of the service coin that you can deliver. An example of this is how Israel were world leaders in building Cyber Weapons but then many of the same workers moved to buildContinue Reading

Start up success comes from the ability to clearly articulate the vision and build the right team to deliver it. To many founder CEO’s make common mistakes when they hire the startup executive team. Pass ownership to familiar cofounders and early employees As you build the initial team there are going to be members who may not think they way you do. Cofounders often fall into the trap of hiring people who think they way they do. But that does not necessarily give you the best talent in the market, be careful with applying titles to anyone in the early phases of organisational growth, soon you may need to hire more experienced professionals as you build out your leadership structure. Not allocating enough time to hiring talent Search takes time, finding the right person for leadership roles your organisation is critical so make sure you allow enough time to identityContinue Reading