#1. Money
If you want to build a startup that can raise millions of dollar VC investment, then you are playing the wrong game. Guy Kawasaki said.
“The probability of an entrepreneur getting venture capital is the same as getting struck by lightning while standing at the bottom of a swimming pool on a sunny day. This may be too optimistic.”
Keep the focus on making useful product and money will follow. Build startup for creating valuable products and services so that people fall in love with your products.
#2. Power (I am the Boss)
You may tag yourself with title CEO soon after starting a company. It feels great to wake up next morning as the top executive of the company. But remember that —
“Great power comes with great responsibility.”
In startups most difficult and helpless job is of CEO, that means Chief Everything Officer. You have to finish every pending work — from product development to marketing, sales, accounting, and hiring.
#3. Freedom
You always dreamt of working from anywhere/anytime and now you feel that your dream comes true. You can work or sleep; no one is there to ask you a question. But you have to work more than ever because now you are not working for someone else. Avoid to be in startup if you are afraid of working more than 40 hours a week
You may end up working 80 hours a week and still your work will be pending.
#4. Become a Celebrity
Many startup CEOs are treated as celebrities. But people forget about those countless people who never shine in media. I met with few people who want to do startup thing to become popular like Mark Zuckerberg.
But how many of us know about co-founders of Facebook?
#5. Afraid of Failure
More than 90% startups fail in first two years of operation and success is far away for the survival companies.
You should not be in a startup if you don’t want to encounter failure.
Don’t start a startup with wrong reasons. The only reason to be in a startup is when you feel making this world a better place than it is today. Solve real customer’s real problem that no one else is solving or if you can provide a better solution than anyone else.
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