Entrepreneurship 101: surviving your first year
The first year of starting your own business is make or break. That’s why this TechCrunch article is dedicated entirely to helping you survive your first year. If you want to make it to that coveted second year, pay close attention to these tips. Here’s just one:
Keep the cash. If VCs put money in your business then no matter what they say, keep cash in the bank. Don’t act like a big company all of a sudden. Do you really need your lawyer at $400 an hour to take notes at a board meeting? Do you really need a board meeting? You don’t need a secretary until you have at least five, paying, profitable customers, if ever. You don’t need a head of sales or marketing your first year. You are the head of sales and marketing. You don’t need any VPs. You’re all VPs. You just started!
Full story on TechCrunch.
Top startup tips.
Photo credit: FotoliaPosted by Lily Koi