Monday, 16 March 2015

5 Pearls of Wisdom For Young Entrepreneurs



Don’t underestimate the power of network
Whether it’s testing out your ideas, sharing your experiences of the trials and tribulations of being a start-up, or opening up your networks to each other – the connections you make will take you further than you would imagine.

Know your ‘Why’
You need to have a strong reason behind what you are doing. Imagine how cool it is to be an entrepreneur!but wanting to run a start-up because it’s cool won’t get you through the ups and downs that it involves. If you’re going to be successful, you need to want to change the world in some way, and it is your belief that will get you through.

Realize that you are competing with the world
It’s not all about Silicon Valley any more! the power and creativity of entrepreneurs is everywhere and this is exemplified by the communities of entrepreneurs that Indiegogo and 500 Startups work with. Almost half of 500 Startups’ investments have been made in companies outside of the US, and they have offices across Asia and Latin America. Indiegogo are distributing funds to 75-100 countries a week
Be patient!
When you start a company, you just don’t really know if you’re onto something for at least two years –Danae Ringelmann. You’ll need to spend some time experimenting, pivoting and changing course – so don’t freak out or give up too soon.
There is no such thing as 'the only source'
Crowdfunding offers so much more for your start-up than just financing. This is your opportunity to market your product, test it with thousands of potential customers and develop a global community of advocates.



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