Many entrepreneurs have an idea for a startup ? a business venture that will fill some hole in the market and help them find experienced investors early on. However, creating a running a startup is much different from having an idea for one. It takes planning and careful financial management to keep a startup running.
Day to day management of such a business is also a task that not all entrepreneurs are capable of, which means that hiring a professional manager can mean the difference between a personal project and an actual profitable company.
Funding
Finding the funds needed to run a company is always a difficult endeavor. Startups are usually looking for an investor to help them achieve their dreams, but before it gets picked up by an investor it needs to have a team and a business operation plan that proves that a startup can function on its own. It?s important to have in mind that taking care of day to day expenses can sometimes cost more than the founding of the company and the initial expenses. That?s why it?s always good to borrow or prepare more funds than you actually need at the moment.
A team
A company is only as good as its employees, and setting up a winning team should be your first priority. Startups usually start as small operations among a group of friends without any structure or chain of command.
You should start expanding your operation as soon as you?re able to, by hiring professional that will take upon specific tasks ? everyone being a jack of tra...