The new start-ups are in a massive growing trend around the globe. And this is also true for SEA countries.
My own students now already starting their own ventures and businesses. I had personally start many new businesses on my journey of being an entrepreneur.
Along the way i learn many things on what i should and should not do when we are in a start up phase. Below are some of what i love to share with you.
1. Too Much planning.
Many spend too much time on planning and not doing it. Even when they start out most of the time it wont be following the plan they draw up. So spend reasonable time only on planning and start on working on those plan and figure out and just do it. You will have to know when to change the plan and adopt a new way or even have a bail out option.
2. Spend Too Much Money
From my own ventures the start up with limited capital or even zero money have succeed and it is true for many successful ventures. So dont spend too much money when at the start up phase.
3. Get Operating
When you already have a product or service you have to start selling it and getting the fund in so that you can continue and get better. Many new ventures failed because too much time wasting on getting start or getting ready mode.
4. Go for quick Cash
When starting new venture do look for in getting the fund as quickly as possible. Dont give too long credits as this will create cash flow problem in your business. I have seen many ventures gone burst because of this.
5. Build team fast
Business can only grow when you start to have team. So build up a team that will support the growth of the venture.
Hope this will be a guide for those who thinking of starting a new venture . Stop thinking Start Doing.