Many people stop investing or taking start to do business because they think they need a lot of money for starting a new business (thousands of Dollars $) say Rami Beracha. But this is not true one can start his/her business from just 50$. One of the major key to making money is by developing good habits, putting a small amount of money aside every month. If you want to become stronger in financial position, make a habit of investing money from now. Making money is not an easy job for everyone and no one can raise money because there is a need for an excellent business plan and smart working included. Indeed, there is a lot of things that are required to do for raising money in a startup. But there are also many things that one should avoid during startup.
There are 5 different things not do while startup:
- Don’t make more money: In the startup don’t think about the money, though many thoughts come in mind that more money is better, this is not true especially in the beginning. As it is the law of nature that nothing goes according to the plan. So don’t think about profit and loss at the beginning if you will think about more money then you will be in a huge stress and nothing will go perfect.
- Find that investor who wants to invest money at startup: Don’t talk or discuss the plan to those investors who don’t want to invest money in the beginning or early stages of development. If you are looking for an investor and the investor you found had no history that he invested in the companies at the startup then don’t go there. Also, if your business plan does not match with the investors /or the company to whom you are selling your product then you will have to work extra, and you may not get a better result.
- Lack of vision: For the survival of a company there should be a solid business plan. One of the major issues with the small companies is that the small companies are unable to catch the public attention; unable to build trust in public and convince the people that why they should use their product.
- Prepare yourself for presentation: If you are planning to meet the investor don’t talk casually talk with same pitch of investor and be prepared to present the thought so that he might not think that he has a weak business idea and non-serious about the work. If you are unable to answer any question, make sure you follow up.
- Don’t take great project at the beginning: There is another aspect that the investor may ask your company to achieve a target which your company is not ready to hit then it would be dangerous for your company and maybe your company would be notorious before achieving good name.
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