But basically this will give you a good idea of where you will find your money and how you will get it up and started. What is a seed round, series A etc. :)
Have fun! As part of going through the Founder Institute program, I feel that there was a section that was talked about but not stressed enough. That is "To take care of yourself first".
Before we can start to build the next greatest tech company that will dwarf the likes of any of today's giants, we must always remember that we have to ensure that we are able to take care of ourselves first! It is probably no wonder why only those who are successful previously are able to continue their successes by starting up another company and another after that. Serial Entrepreneurs... So for those with a dream to become an entrepreneur, do remember that before you start, ensure that you can take care of yourself for the journey. Money is not going to fall out of the sky to fund you at all. Many funding grants are pay first, claim later type of deals. So if you don't have the money or can't raise angel seeding from your friends and relatives, it will be hard at first. Not impossible but hard. We can't think well with an empty stomach. :) It's been a while that I have been on my own and not working in any MNC. Lots of people think I have a few million stashed away in the bank. Only those who know me will know that is not the fact as I will be one who will be driving a nice car to work if I do.
Anyway, on my journey on being on my own, I find a lot of people wondering how they can do the same. The economy is bad, sales are down, everything is getting more expensive and yet I can do it. It's just a matter of simplifying you life. Stripping out excess and saving up to do so. If you haven't started saving, better start now. A simple example I always like to use is how many people own a nice car? How much does it cost a month for the loan and maintenance? If you don't have that, you have easily saved a few thousand there. I have met many who overspend because of their car or handbags and yet complain all the time they have no money. They wonder how others can afford a house or a new phone when they have to save up for it. It's just down to simple financial management. Cutting spending while increasing income. So if you want to have a simpler life, stop looking at winnig the lottery or making more money. Look at spending less first. Stop going on holidays and complaining of owing credit cards. Stop buying new phones and gadgets when they launch. Stop owning a car which takes up 20-30% of your monthly income. Live simply and happily. It's been a while since I written something, just lost the mojo and also the time to do so.
Hopefully it can restart itself and for me to share more int |
Details
AuthorTechie tuned entrepreneur... wonder how the journey will be like and will I be able to succeed? Archives
October 2013
Categories
All
|