Guidelines for Aspiring Entrepreneurs
Prepared for: First-time Founders & Early-Stage Innovators Based on insights from seasoned professionals and common startup pitfalls 1. Think Deeply Before You Begin Advice: Entrepreneurship is a lonely, financially draining, and emotionally taxing path. Scenario: Ravi, a software engineer, left his stable job to start a food delivery app without validating the idea. Within six months, he burned through his savings and had to return to a job. Takeaway: Assess your risk tolerance, savings buffer, and support system before quitting your day job. 2. Start Small and Stay Lean Advice: Don’t aim for grandeur initially. Baby steps are better than overengineering. Scenario: Anita developed an advanced AI app with 20 features, but customers only wanted 2. The rest went unused and overcomplicated the product. Takeaway: Build a minimum viable product (MVP). Avoid adding features users didn’t ask for. 3. Launch Before It’s Perfect Advice: Waiting for perfection delays prog...