Tips for a new entrepreneur

Tips for a new entrepreneur
While many people advise that a new entrepreneur should have partners and family to support in business etc…in real life an entrepreneurship is a single person game.  Here are the top 7 suggestions.
1.      
  1.  Never plan to have more than 1 or 2 friends in the start up phase
  2.  Have clearly thought out and mutually agreed salary structure / equity or profit sharing
  3. Make them invest – either sweat or cash is better
  4. Let them know very clearly Cash/Sweat equity is at “Risk” – may lose it all
  5. Husband and wife working together has to be managed extra carefully. Who is the Boss 🙂
  6. And do not bring in partners just because you are comfortable. It is better to have “smarter” people around you than “yes-men”.
  7. And I am also of the opinion that if you want to build a start up, don’t plan to do it out of your home / apt.  Atleast work from a Starbucks (in USA) or Coffeeday (in India). This gives you the discipline to get out of the home!!!
And..finally work hard and pray for success🙂
 
 

Share This:

This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *