David Cummings on Startups

Where Do Entrepreneurs Need Help?

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David Cummings

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Last week, I was asked if I knew of entrepreneurs in town that had already raised some money and were having difficultly raising a second round of financing. The idea was to try and focus on this subset of entrepreneurs since they had already been vetted by investors and should have something to show. My response: I don’t have anyone to recommend at this time. After thinking about it more, this is a good way to assess the progress funded entrepreneurs are making locally, specifically ones that are trying to raise more money. One idea was to work on introducing these entrepreneurs to local businesses that might have a need for their product or service with the hope of generating cash from customers, which is often the best form of funding.

Entrepreneurs need help in a number of areas. Here are a few ideas:

Entrepreneurs always need help with something. More communication and collaboration in the community around these areas will make for a stronger and more vibrant ecosystem.

What else? What are some other areas entrepreneurs need help?

Comments

3 responses to “Where Do Entrepreneurs Need Help?”

  1. Bill Scott Avatar
    Bill Scott

    I have found that the most common problem entrepreneurs have is learning to FOCUS on the right things to grow their businesses.

    Reply
  2. Steve Denker Avatar
    Steve Denker

    David – based on a number of previous posts you’ve written as well as personal experience, I would certainly add the word Talent to your list. I believe entrepreneur’s don’t necessarily need order-takers (for most roles), they need the addition of diverse experience and skills, yet like-minded individuals that understand what it takes to succeed and are fully aligned with the goals of the organization. They should be focused on their role within the company, and why it matters both internally to all stakeholders, and externally to all customers / future customers. That’s my answer to your “what else” question this evening. -SD

    Reply
  3. Christine Alemany Avatar
    Christine Alemany

    Steve – Adding on to talent. They need practical strategies that they can implement with their limited resources (and time), especially around marketing. Many entrepreneurs need help prioritizing tactics, and solely working with agencies isn’t always the best option. Some tactics make sense for their business while others should be in the parking lot until they optimize the tactics that will give them the biggest bang for their buck.

    Reply

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