Startups the word is being so overused /overheard and so very pampered by all the attention given from Government to Venture Capitalists at times the purpose for which they are created takes the backseat and the flash and noise of being the founder of a Startup takes the front seat
It is easy to get carried away with all the noise in the region. Today let’s take a look at how you can get carried away in the doldrums.
Calling meeting is quite easy. But before sending the request to a meeting following need to addressed
- Is the meeting necessary?
- Does everyone have all the details of the meeting?
- What is the agenda of the meeting?
- What is the end result expected from the meeting?
Answers to these questions will answer whether there is need to call the meeting if so what is needed to conduct a meeting and the end result expected. As the meetings called means time spent from each one in the meeting. Time is precious it needs to be utilized economically.
Optimization of Personnel
Being a Startup, it is required to plan the work and also have the needed personnel. Planning for the work hours of personnel helps to string the finances expenses of the company. If you can get your personnel to multitask then there is nothing like it in a Startup. Hire when you need there is no point having more than required.
Networking events keep happening in regular intervals. These do attract as networking helps when you are in business but when is the question? When do you go to network and with whom do you need to network with? In the initial phase of the startups, your work is the priority which needs your complete time. In case you would like to network, enquire, search and make a list of people who could really add value to your meeting up with them and then networking helps in building the trusted base of buddies for your business.
This is a marketing strategy undertaken by big companies to make their presence felt. Is it certainly worth the salt of coughing up $5,000 on conference sponsorships? It does give you an opportunity to buy a trade booth and get a pic of the team in an Instagram. It does not add any value to the business till you gain some foothold in the industry through your product/service. Once the name is gained then you can venture further for spreading the news about your arrival to the world using these sponsorships.
Overspending on Office Space/Business Cards
The time period from the time the work begins in a Startup to the time of generation of income required quite a lot of spending on various aspects of the Startup. It can be infrastructure, personnel, and the list goes on.
Any kind of money investment needs to question if it is an absolute necessity or you can do with something else existing or set a budget and work within that.
The cash flow has to be stringently monitored as there can be varied expenses.
Networking with people in your market
Meeting with founders who have been there, done that and experienced the bubble is quite an experience. As they give insight to how the struggle will be. It can get quite addictive too and can burn a hole in the pocket called time and drain your time.
So set meetings at regular intervals and do meet them don’t let that to rule your time.
It is quite human to get carried away at the moment. At the same time, it is just being aware of the need or purpose of yours which has to be priority till you gain the firm foothold in the industry. The key is to utilize your time, money and the resources optimally and not get lost among the flash and noise and work on the path to success.