David Cummings on Startups

7 Quick Tips for Entrepreneurs Starting Out

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David Cummings

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With so much information online, there’s a real challenge for entrepreneurs to find best practices based on their current business stage. Entrepreneurial struggles at the seed stage are different from the early stage which are different from the growth stage. And, stages aren’t clear-cut, resulting in difficulties when transitioning between stages.

To begin, here are seven quick tips for entrepreneurs starting out:

  1. Culture is key and needs to be intentional
  2. Plan go/no-go goal metrics from the beginning
  3. Know that raising money is 100x easier with traction and find traction metrics for your industry
  4. Work to achieve product/market fit as quickly as possible
  5. Use the Simplified One Page Strategic Plan, and make the strategic direction clear
  6. Ensure a growth-oriented entrepreneur is on the team
  7. Find a peer group

Building a successful business is incredibly hard. Entrepreneurs starting out would do well to follow these seven quick tips and improve their chance of success.

What else? What are some other tips for entrepreneurs starting out?

Comments

3 responses to “7 Quick Tips for Entrepreneurs Starting Out”

  1. Mark Baule Avatar
    Mark Baule

    Tips
    Strive in everything that you do to make your real gifts and passions come alive in your startup. There are a lot of startups out there! If you don’t believe deep down in your gut in what your doing, people will see, and it will manifest itself in your business.

    Reply
  2. Next to Normal Chris Avatar
    Next to Normal Chris

    Your timeline isn’t always going to be the one that matters. Especially in dealing with investors. Most of the time it’s nothing personal, just show that you can be flexible and adapt. Patience is a virtue, one that hopefully you learned early. Also, sometimes your passion gets away from you and a slower pace might be what is best for the business for the time being.

    Reply
  3. carderoclothing Avatar
    carderoclothing

    Great article! I especially agree with the peer group, I have two I am apart of one of them is for Entrepreneur’s and it helps to talk things out with other like-minded people. One thing I have learned is to operate in your strengths as quickly as possible. I could’ve taken tons of hours doing my own accounting or graphic design but I don’t enjoy it and it drains me. I outsourced both immediately, among other things and it helps me to focus on what I love.

    Reply

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