Smart Startups are the ones who abide by following rules
1) Keep focusing on their goals and do not rush push to seek investments.
2) Keep identifying right senior talents and negotiate / convince them to be with the startup in thick and thin and offer a generous equity or even compensation or if nothing else have a human empathy to build relation with them.
3) There will be a need to continuously collaborate, build relation with other startups and see where your venture product or service fits in that eco system.
4) Build small community and collaborate and bring more individuals to believe in what you are doing.
5) Keep building customers.. and more customers or fans and more fan following.. or followers and more followers..
6) Avoid getting into controversies and stick to their focus.. so no loose comments on twitter, facebook or any social media site..
7) Get the cheapest, greatest small module training from reputed institute and build relation there.. if that too is unaffordable.. identify quick learners and include them in your team..
8) Having a human binding with your employees or contractors or consultants is most important and at the end of it, are they going to earn good remuneration from your startup? If the answer is No and if you feel you are the most conservative successful entity who does not wish to spend on employees then you are not there… you can never be able to build a foundation company.. you may wish to sell your startup to someone else..? but it is of no use as finally again you are in that cycle of entrepreneur to investor journey and you will not be the right fit to create large employment opportunities.. so vision focus most important.
9) If your aim is to just sell your startup eventually.. identify all potential acquirers and understand where all they have limitations and strategize fully on that model only.. finally be clear of what you wish to do..
10) Does incubator / accelerator deserve small equity for guiding you.. absolutely yes as finally they have built a strong network of entire startup eco system..
11) How much minimum money you need? depends entire on the startup? It should not be a case of a business plan by an employee being given to a CEO for budget approval and startup will perform only if business plan gets sanctioned..
so please do not chase investors and let investors chase you..
PASSION FRAMEWORK the one which have built and evolved is a 2 decade journey of ups and downs in an entrepreneur journey and name it.. everything is experienced… and so do not get bogged down by ‘No replies from investor’s”or ”Polite smiles” or “Harsh criticism ” or “Even copy / imitations of your product” as finally if you have decided to become an entrepreneur.. it is your special charm.. there is something in you which compels you do so.. so you are bound to win… if you have patience and perseverance.