How to Endure the Startup Marathon
Starting up a company is not easy. You’ve got to be an endurance runner to make it to the end of the race. Coming up with a great idea and getting a team together is just the first step in what can be a 7+ year trek to going public.
Along the way, you’ll have to cope with all sorts of tough questions, including the following:
- Do you pick a small problem to solve or a big one?
- What goals do you set?
- Who funds your company at the beginning of the race?
- If no one funds you, do you just start building?
- What do you do if the Beta is crappy?
- How do you get traction with users?
- Once you’re lucky enough to have traction, what investors do you invite onboard?
- Should you keep your product/service free?
- How do you best monetize your product/service?
- Should you sell your company or go for the IPO?