It’s another spectacular Monday morning but hey, lets get serious and address this issue head-on.
Gary Vaynerchuk stated the obvious as he said a lot of people want to start businesses and start cashing out in the first year. Some expect massive returns in the first six months even. This is not to say it’s unrealistic but its not magic.
What determines if a business works? Is it the amount of capital you put in it? How many investors you have and how much they invest? Are market forces the main determinant of business success?
Its possible to have all the money in the world but if the market forces are working against you, that business will not stand. Its not like you’ll buy your own products. Your main goal as a StartUp should be building a sustainable business not an “ATM machine”. Gary says- “Too many entrepreneurs these days are focusing their day to day trying to raise their next round, siphoning their own equity out of the business to artificially inflate their company’s valuation rather than focusing on what’s actually important: Building a sustainable business”. He says they are acting as financial arbitrage machines, not actual businesses.
The idea here is to be patient. Do what you love. Make money but don’t let that be the motivation. Let your product meet a need and you’re on your way to being successful. Thats what makes you the smart business owner. Have a productive week.