Sharing thoughts

This mistake is a bit different than the mistake of building the wrong founding team. Entrepreneurs are like parents, sometimes they get attached to their products too much as if it was their own baby. In an essence, it is but the baby doesn’t need only food (or so I was told). Not making sense? well the point I am trying to make is that when you have a product you tend to put all your focus on it, and…

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Part of the terms that we talked about in the last post, I would like to stress on the importance of the amount of the fund you are asking for. Yes of course, more money is always welcomed. However, this could be an issue that you need to watch out for. When you think of the amount of the fund needed, be careful. Asking for too little might choke you, and asking for too much might spoil you! Yes you…

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You reached this stage, GREAT. This means you are on the right track. Be careful however as the next step is trickier than you think. Although the investor agreed to back you up, you both still have to take the legal route and sign on the term sheet. In the world of entrepreneurs, getting to the term sheet stage is already a reason to party, but the tough challenge now is to ensure that what is in this term sheet…

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Securing your startup financially is one of the most important achievement you should look for. You had an idea, you built a prototype, you assembled a team, and now it’s time to bring some money to grow the idea to a fully sustainable business. As mentioned in many books and articles, there are many ways to secure a fund, either through family and friends, or through bootstrapping, or having an investor on board, etc. However, since I only have an…

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Say you assembled the team, and you are ready to share with the world your genius idea. The next question would be, where should my company be located? Now, I understand that some ideas and startups can work anywhere anytime given the nature of their business, but nonetheless you still need a location of some sort to handle the legal matters such as CR (commercial registration, no not cute rabbit), the financial transactions (getting paid and what not), the documentation of…

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OK, so you have found an amazing idea that will change the world. This idea has been keeping you up at night and you have thought of ways to make it a reality over and over again. Great! Since we all know that one hand can’t clap, you are now thinking who can help you out and be part of your founding team. STOP! don’t do the mistake of reaching out to friends and family JUST because they are friends…

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