Things that Silicon Valley Teaches Us About Entrepreneurs
In the Silicon Valley, we learn that entrepreneurs are not for sale. This is because you never know what might happen to you in the next line. Assuming that you are a software engineer with many offers in place on your skill.
One buyer would wish to but the idea for a given amount while the other buyer would like to give the engineer start-up amount of money. At that point, you may not see what is right as every deal will seem lucrative for you. In the end, the poor software engineer decides to forgo one buyer not knowing what will happen with the deal. With this if you don’t have a proper plan on what to do with the money you may end up one of the poorest people around.
Another lesson is that you should do foundational work before starting your business. It will be wise if you do this before you steam up your ideas, products, and services. To be on the safe side you should organize for registrations, copyrights and many other fundamentals. Also, you should also plan for several AdWords, campaigns ahead and include all this in your foundation plan. One thing with this is that if you line it up correctly, your backers and investors will blow at your feet. You find that some people do reason out ordinarily and they mistake this with fishing which does not require any skill or planning as it will only require you to cast the net in water to catch fish that are passing by.
Other people also think of it as set up with professionals like schools. It is important that you get out of your comfort zone and work harder. By doing this you will fall into many misfortunes like unable to support your business, pay your employees, unable to cash your startup check since you never registered with IRS and many other things.
Apart from that, it is also essential that you don’t give away your sauce. Your secret is your weapon, and you should not give away what you have but instead learn from others. This is because your secret can help someone to succeed as you fail on the other end. You should not trust any single person with your ideas and all you do to succeed should always be confidential. When you have more eyes on what you are doing the better as you will be able to identify any single thing that is going to mess you up. How does it feel when you see someone succeeding with your idea? Painful I guess.