Everyone’s telling the same story, Sam! Nobody gives a damn about what we’re gonna do anyway. The bottom line is we’ll pay money and get disproportionate returns. I don’t think we should participate in that Bootcamp. Isn’t that one of the first fundamentals that we learned/discovered as entrepreneurs? Don’t put a penny unless you expect benefits in multiple. Isn’t this why we decided to let go of our plan to hire more people and instead work 100 hours ourselves?
Frugality is rare, but the right decision around where to be frugal is even more scarce. A lot many founders have an opinion that almost ridicules such events. Partially, and more often than not they’re correct in their assertion, however, this doesn’t rule out the possibility of such assertion being inaccurate. Straight out of college start-up is a recipe for disaster. Why?
There are numerous start-ups that have started early, as early as initial years of college and no, they were not just lucky. They were hard-working and intelligent. Let’s not live in denial, the general observation is: the young entrepreneurs who’ve gone ahead and made it big are always exceptionally intelligent. It’s obvious that experience at an early age is not a readily available phenomenon, in such cases, the person should rather be more inclined toward leveraging the teachings/learning from people having more experience.
Mentorship at the very basic level is not a question or a decision out of a dilemma, it’s imperative towards an increased probability of success. Harness your thoughts, ideas, and functional capabilities while the experts direct and channelize your efforts and other resources in an optimal way.
The power of validation in the start-up ecosystem could be a difference between the survival and death of an organization. Every dimension in an organization has its own significance and none of them can be taken casually. Having said that, every entrepreneur will agree with the fact that initially, it’s difficult to do justice to every dimension and this plays a larger role in how the company is perceived by the investors. Rarely can a startup afford to have loose ends!
It’s a fact that good mentors are hard to find, but they do exist. Several incubators and accelerators are working toward this. Think of it as a legal document that your solicitors validate for you and insulate from any legal consequences. Your perspective towards this is critical to the future of your company.