4 Advantages That Will Effectively Make You a Startup Graduate
So much has been said about startups to the effect that anybody talking about startups today may be considered to be archaic or rather out of vogue. This, however, is far from the truth, it’s rather a raging issue.
As in any other business venture, a lot of liabilities and assets will be involved. Talking about a system that gulps millions of dollars can’t be seen as a joke. Startups are very big money spinning ventures and should be seen so.
A lot of people out there are still confused, some just believe that once you have a set up which can range from a barber’s shop to a restaurant and possibly a pump station, that you are a startup.
For a company to fall into the category of startups, it must be able to claim a freshness that suggests a finger on the pulse of the future. It is not very important if the outfit is profit or non-profit oriented.
Chase Adam, founder of Watsi, a medical crowdfunding charity startup had this to say ”All we focus on is growth and impact – at the end of the day, we just need to make the numbers go up and to the right.”
Watsi, does not use donations to support operations. It spent $135,000 to raise more than $1.2 million in one of its ventures. This is clearly generating $9 for every dollar spent on behalf of the patients.
Given that you are out there and you probably want to be generating revenues above $20 million, have more than 80 employees, which translates to being a startup graduate, I say kudos.
You have the following 4 advantages over your peers of about two decades or more ago. So you don’t need any dilly dallying.
- Easier access to the market
What you actually need to be a startup and eventually a startup graduate is the market. About 20 years ago, people didn’t have the type of access we have today. The revolution in the social media has given a quantum leap to business men and women all over the world in their quest for the market.
Google, as a social media came up on the 27th of September 1998. All the others; Facebook, WhatsApp, Twitter, and LinkedIn are relatively younger. Each one of them is therefore less than 20 years since establishment.
A lot of founders got to the level of startups without the enhancement created by the social media as far back as 30 years ago, how then won’t you be able to attain the status of a startup graduate in a few years after you must have set up your outfit?
The world market you need is just a click away, which you can do even on your bed in the bedroom. People before you had to do a lot of jetting, traversing continents but still became moguls and business magnates.
After all, Apple came into the limelight on the 1st of April 1976.
- Opportunity of easily accessing role models
One super advantage a startup has today is a long list of trailblazers. You can have your choices and pick from an array of them. This was not the scenario some years back. As if that was not enough, the social media has put any of them at your beck and call.
Most people these days are quite willing to talk about their achievements, so getting one to be your role model can’t be an uphill task. All you need do is to connect.
- Opportunity for angel backing
You don’t need a loan for your startup, you are not into hamburger business. What you need is a venture capitalist. You just don’t, however, attempt a cold email, it isn’t going to work. You rather need a referral through a solid connection.
Venture capitalists quite unlike banks, majorly do the funding of the company, and also tend to play a more active role in whatever company they are backing.
“Venture capitalists want to back people whose unique insights challenge the status quo.”- Philip Kingston
- Unlimited growth potential
Uber, built in 2009 by Travis Kalanick and Garrett Camp, is the most feared startup today. The only difference they introduced into the cab business is that you can hail a car with your smartphone. As at April 2017, Uber was worth a stinking $62.5 billion and is still climbing. That is sure genius, you can’t take it away from them.
The growth potential in the market today is limitless. With the world population put at about 7.5 billion and still growing, all you need is a crack team to make hard decisions very quickly. You don’t need to scratch the surface, dig dip into the gravy.
The one mistake you will never make, is a failure to outsource. You can never do it all yourself. Get a super team and delegate roles and authority. You will find yourself graduating from a startup in no time.