Experience or capital, which is more important when starting-up?

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When you are confident enough with your experience and ability to turn your capital and start Star-up. However, according to the statistical ratio, only 3% of Start-ups succeed at the first time. So, what did they do to succeed, and why do other startups fail? Experience or capital, which is more important when Start-up? Hopefully some of the criteria below will help you better understand the necessary conditions for a Start-up

1.Market research

Spending a lot of time doing market research is something that Start-ups should do, this will help you see if your product is suitable for the current market, and can be tweaked accordingly. Customer tastes. Besides, market research will also help you know how Marketing will be most effective.

2.Have a vision

A start-up is a long-term development, not a seasonal job. When you want to bring your passion to Start-up, you have to make sure it will last. 5 years 10 years or longer, or within 3 months 4 months it is no longer a customer need. You need to have a clear vision of where your start-up is going.

3. Find yourself good Mentors.

No matter how much capital or experience you have, your startup will sometimes face many difficulties. At this time, if you are lucky enough to have good mentors, they will help you stand up, guide you on what to do next. Having good mentors with you is like finding the light on a rainy night.

4. Don't expect success the first time

Hope is essential for a young, forward-thinking entrepreneur to try harder in his career. And the important thing is "Never hope to succeed in the first time", especially when a young entrepreneur, has no experience, it is not easy to succeed from the first time, so if Putting too much expectation on the first products or projects will make the entrepreneurs themselves quickly discouraged, always think that the beginning is always difficult. Initial failures bring valuable experiences and lessons to your startup journey.

 

5.Recruit people with the same passion

If you want to develop long-term, you need to find yourself good teammates, have enough passion and enthusiasm for the job like me.

A team dedicated to their work will always give you their 100% of energy. There is no better way to ensure that your team is continuing to sell, do marketing, and even develop products. Hiring some of your early members based on their passion for the product (while keeping their expertise and personality in line with the rest of the team) is a great way to ensure that Your team will be off to a good start.

At People Profilers, we believe in people. We see a world filled with opportunities for those who are doing what they are good at and love. This is the motivating factor that motivates us to continuously devote ourselves to finding the right candidate for each position, and the right job for each applicant. We set the mission to provide suitable and effective recruitment and HR solutions, while building a sustainable partnership and finding the perfect match between employers and candidates to ensure the best benefits. benefits and integral development of both.

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