There are a lot of myths and hype out there. Here’s what the entrepreneur’s journey to success really looks like.
- Get inspired by an idea
- Incubate it
- Find product-market fit
- Customer love
- Raise money and scale
- Take Time
- Build Something Even Bigger
Get Inspired By An Idea
It may be simply being struck by an opportunity, seeing where the business puck is headed, or a gaping void in the markets that you have a solution for.
More often, startup ideas the actual start of the startup journey initiate from getting frustrated about inefficiencies or lack of good service and solutions in antiquated markets. It’s that friction that creates highly valuable business pearls.
Don’t get hung up on the fact that your idea isn’t 100% unique. It doesn’t have to be. Few, if any are. To win it does have to be 10x to 100x better than existing solutions. Yet, it is action and having the best team that matters most. Having enough money to dominate and move faster than the pack is critical too.
Take Time To Think & Plan
Before rushing in at full speed, take a moment to think, and hone your idea and vision.
Some of the most successful founders of billion-dollar companies that I know took several months out just to think and get clarity on their ideas first.
Don’t get lost in this stage. Speed is important in the entrepreneur’s journey. Yet, you have to make sure you are going in the right direction and there is real potential to create a big business.
Research, talk to potential customers, find out what they will actually pay for, and begin networking with the investors, fundraising consultants and M&A experts who will help you go from zero to one.
Layout your pitch deck. Even if you don’t plan to raise money, it will help you organize your thoughts and get objective.
See How I Can Help You With Your Fundraising Efforts
- Fundraising Process : get guidance from A to Z.
- Materials : our team creates epic pitch decks and financial models
- Investor Access : connect with the right investors for your business and close them