Doing a business or turning yourself into an entrepreneur these days is both, risk and an opportunity. Each day there is something new coming into the world especially in the business field and in case you are planning to start a business as a complete new idea, you need to know all about the dos’ and dont’s of it. A complete research is all what you need. Here are 10 tips to start New Startup Businesses: Silicon Valley, have a look!
Adaptation And Survival
You must recognize that in order to do business in Silicon Valley you must get adapted to the place as you will be spending most of your time pitching, where a business meeting would mean catching up for the coffee and all the meetings will be of about half an hour. You must know how to communicate your business properly.
Researching
If you are looking for options to rise up your investments then you must do significant amount of research on your part. You must know what people are more inclined towards your business and strategy and what VC’s have invested their money in the same cosmoses.
Staying until you are done
Closing any sort of deal or making sure of the investment takes much more time in Silicon Valley than any there company usually but one must know that the deal will only be closed until all the paper work has been through and the more bigger your deal is, the more time it will take you to get your work prepared.
Follow up fast
Look for someone who may know you here and then ask them for an introduction. For this you can follow up by the help of an email outlining after the possible meeting has been done.
Work life balance
When working in Silicon Valley you must work really hard and make sure that your life is not having an impact on your work here because what get funded here are your ideas and commercial and not your personal life.
Have enough money to invest
It will be hard for you to invest your money in Silicon Valley if the amount you are investing is very small thus make sure you have enough leverage to negotiate the dealings and terms.
Have abundant deal flow
Make sure you are considering all the deals in front of you before you can choose one to invest your money especially when you know that you are a new investor and try to learn much more stuff about the market as possible.
Stick to your sector emphasis
By staying in your respected sector you will defiantly be an expert and will be better informed about all the things which will be helpful for you in making your decision.
Branch out your investments
Any new startup may have a fairly good chance of being failed at the beginning but if you invest in a series of all the startups you can reduce the variance of such return.
Look for great teams in big markets
Go for the teams who are focused overall on the customer development and have much chances of getting their required market fit and products.
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