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how to start a bunsiness

in So funktioniert das Forum 19.02.2020 00:03
von ahmed0000 | 8 Beiträge

This is perhaps one of the most difficult articles to write, as it is all about acknowledging where you got it wrong on the startup journey. If you are an entrepreneur, you will know how difficult it is to realize that you could have done things differently. But the real story is that no matter who you are, you'll make mistakes, but the important thing is to learn from them.
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To put things right, Souqalmal.com is the leading financial comparison site in the Middle East today - primarily as a banking aggregator, and the biggest elements of business are individuals and technology.
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1. Not to hire early enough
We were a very small team for a long time and started hiring properly after our second round of investing. To be fair, this was the time when we had the money to do it, but early recruitment prepares the company for much faster growth. The hardest part was trusting someone else in what I thought was the core of my business.
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In the early stages, a lot of growth was revolving around the founder, but trying to do it all alone was not necessary. This means I had no rest or break time when I needed it. My father, who has started three companies over the years, has warned me that owning your own business is a 24/7 issue, and now I understand that. No real vacation or vacation - there is no such thing as a 'switch' - and it's not just that I'm thinking about strategy, but also about implementation. I had to take care of every detail myself, which is normal in the initial stage of startup, but the question is how long does it take to stay in this particular situation for so long?

2. Do not shoot early enough
Once you have a team in place, it is extremely important to keep the culture and environment very positive, optimistic and motivating. Having the wrong person on the team can spoil this very important aspect of the job - one of the areas you'll find is probably your biggest asset.

However, when you realize that things are not working with a particular employee, it is extremely difficult to call it termination. I start thinking about who will take over, how will I deal with tasks that require expert skills and what about the relationships this person has forged? In my experience, however, you always find a way. Once the person had gone away, the environment in the office turned from toxic to superb - something I should have done previously.


3. Growth without a co-founder or mentor
Being an entrepreneur can sometimes be lonely. I often find myself discussing the pros and cons in my head, as it is very difficult to put the burden on other team members who already have enough plate. The co-founder helps you see things from a different angle, and is there to help you in the good and bad times, as it is together. Having a co-founder also helps build a strong team around you, as two of you are looking for more people to join.

Building a startup company from A to Z is a really difficult journey to get started - and it's best to have someone stand by you on this trip. Being two allows you to take a break once in a while and return with a new mindset without stressing that no one is interested in business while you are - it's a golden moment.

4. Not listening to my gut feeling
This may sound tender, but through experience, when I don't feel like my gut says no, I have enough time to listen. Remember, you will likely have a better understanding of your business needs and the type of people you need around you to make things happen.

Not only have I wasted time, but I also spent precious money on decisions taken against my instinctive feelings, and those decisions will range from who to hire to the partners who will bring them. There is a reason that, among all others, you have decided to make a leap jump - trust your intestine and feel it. It is tempting to continue on a path that has already begun - it's really difficult to do a large number of interviews again, but if you feel that the candidate even in his last interview is not correct, reduce your losses and start the process again. The chances of this permanent person in the company are small and you may find yourself starting the process again anyway, in addition to losing a few months in between.

5. Reducing the financing process and time
Funding is on the agenda of every startup. This is what keeps salaries and expenses going while you build amazing business that will eventually become profitable. Three years ago, I was a beginner when it comes to raising money. I didn't know much about the process, due diligence, promotion etc. - I had planned to launch my product when I thought the money would come, and I can tell you that nothing of that plan was implemented on time The fundraising took much longer than I expected. There are various factors that can influence the fundraising schedule for your business, from the scope of the due diligence process, to the time of the year

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