Blame it on the media when people seem to think that their hot tech startup will make them a billionaire by their mid-20s.
Being a startup ourselves, we are very interested in the factors that contribute to a startup’s success, so we created this infographic on the chances that your startup will fail or succeed. This also includes some research on projections for the best sectors to start your new business. Continue reading
While the traditional business plan may be all but dead, most investors would still self-identify more as financial engineers than software engineers. Therefore, it is crucial for start-ups to be professional with their financials when pitching investors – it shows that they speak the same language, and that they understand the importance of building a sustainable business to go along with their snazzy product. Of all the rookie mistakes we’ve seen in start-up pitch financials, these are the most common. Continue reading
Entrepreneurs thinking about starting a new venture should act now! If you hold out for better market conditions, you may be bypassing the opportunity of a lifetime.
While, a pair of countervailing trends –- the slowly recovering national economy and a pull-back in later early-stage funding — are keeping things interesting for entrepreneurs, stubborn recession conditions create inexpensive office space and technology trends, such as cloud computing, that temper the need for large amounts of outside funding to get new companies off the ground.
ProfitBricks has created this infographic to illustrate that:
1) creating a startup now is cheaper than ever before
2) there are new sources of funding available, and
3) the lingering economic issues can reduce competition
Do you agree that it is now “Start-up Time in America”?
Source: Visual.ly, Profitbricks
Building a successful business is every entrepreneur’s goal – but only 1 in 12 succeed. Why do startups fail? The Startup Genome project analyzed data from 3,200 companies and came up with some answers. At the core of any successful business are two things: a good product and a large market for that product. In other words, a startup should be able to scale. And to scale properly, it must balance the growth of five core dimensions: customers, product, team, business model, and funding. The dominant reason for failure: premature scaling of one or more of those dimensions. View the infographic for more!