editor’s note: the first venture can be successful few people, failure is not terrible, to sum up experience in a timely manner, the failure will be the cornerstone of starting again. India entrepreneur Aditya Mehta for their first venture failure experience, summed up some experience and lessons.
the following is the text:
has been running for almost two years, and I recently decided to shut down my first startup. Find out exactly where the error is very important, so we can summarize the experience and lessons, to lay a good foundation for the future rally. So here, I summed up the following lessons from their own entrepreneurial experience:
1 focuses on product
my role in the company is a sales and finance champion, not good at technology. Although my company is a technology intensive start-up company, but I think I can outsource the business to a reliable supplier, let them help me get all the. Now, in retrospect, it was found that the company has a CTO is how important, this CTO not only need a strong ability, but also like you as a product of passion. This is especially important if you run a high-tech startup. After all, the supplier is only a supplier.
2 set employee expectations
you may get money and then try to expand quickly. At this point, your initial recruitment will become crucial. Ensure they understand the risks and rewards of working in an entrepreneurial environment. If they think they work in a big company, and expect the same level of job security, they are more likely to be disappointed in the problem, is unlikely to put additional effort in the start-up companies need.
3 don’t spend too much time on money
there is no doubt that money is important in some way. But trying to get money should not distract you from your focus on the product. I used to spend a lot of time in obtaining financing, when investors finally see show interest, but I realized that my product has been far behind the plan, resulting in the loss of investor interest.
4 to find suitable for the company, rather than let the company to fit
people tend to focus on building a core group of people who are friends or members of a team that you know in your previous company. This may result in the fact that the person you are hiring is not suitable for the job. In fact, it’s more important for you to believe that a person is more important than his or her skills.
5 even obtain financing, you mustn’t forget your
I have seen a lot of start-up companies in the capital, the money is free. There is no doubt that the funds will help recruit better manpower, strengthen technology investment, etc.. But to the founder with a luxury car this thing can still wait. >