Updated on June 1, 2018
Startup Entrepreneurs: Hire Investment Mentors and Avoid Pitfalls
Many blossoming entrepreneurs occasionally believe that they have no option but to give up, with the trials and inconsistency of launching one’s very own company. What could newcomers do to gain confidence and tenacity? Hiring an investment mentor will help immensely in avoiding pitfalls. Working with a competent and seasoned mentor, such as Brian Gaister, is practiced by the most prosperous enterprisers and business owners in the world.
Hiring a Mentor
Mentors serve an extensive function when it involves entrepreneurial success. Most individuals who operate and control high net worth organizations internationally have or had mentors.
Sure, you can always read books and manuals that contain informative and helpful business advice. But genuine knowledge and intangible business qualities can solely be learned from those who have experienced the difficulties of establishing companies on their own.
A quick example of good mentoring is how Brian Gaister helped SaaS Ventures’ fund-raising which was reported here: http://presstelegraph.com/saas-ventures-40-00-million-financing-brian-gaister-released-jul-27-filing/. With the connections and links he has acquired over the years as a financial investment administrator and mentor for multinational companies, he helps companies like SaaS Ventures gain lucrative private investment deals.
The Form D was also signed by Brian Gaister. More info can be seen here: http://presstelegraph.com/saas-ventures-40-00-million-financing-brian-gaister-released-jul-27-filing/
Why some startups fail
For new companies that do survive throughout the early funding stages, triumph isn’t still completely guaranteed. Three of the top causes on why startups fail are: premature scaling, not hiring the best and right employees, and not having the ability to keep up with the competition.
An eagle eye focus is great, but in business, it should be used moderately.
74% of active Internet startups fail because of premature scaling. Scaling isn’t bad because it’s the result of the startup’s progress. Scaling is supposed to drive a company’s growth. The Startup Genome Project, however, defines premature scaling as “focusing on a single dimension of their business models, but advancing it out of sync with the other operations.”
Not having the best team
The best or “just right” employees? Entrepreneurs’ mentors say both.
In the earlier phases, it might appear as plausible to do business on your own. However, if you dream of your empire to grow more, you must hire other individuals involved. And not only any folks, but the right individuals.
The best. To begin with, you need to identify what tasks and functions you need help with. The second move is to locate the best candidates to fill those shoes. There are many competent individuals out there, but ability and knowledge are not all you must hunt for.
Just right. You should also find somebody who’s the rightcandidate your company. Could they help to bring your business closer towards its foreseen development and goals? Does this person have the same company ethics as you?
The best employ results to development and prosperity, but the false one could derail everything.
Not having the ability to keep up with the competition
It was mentioned that Brian Gaister signed SaaS Ventures’ Form D. The Form D is a tool that helps businesses understand their competition. It’s highly confidential and startups dislike divulging its contents, which is further explained here: http://presstelegraph.com/saas-ventures-40-00-million-financing-brian-gaister-released-jul-27-filing/
Businesses must always keep on par with their rivals. Don’t be one of those startups that got poisoned from within through internal wars as they grew bigger. This distracts the upper management from keeping it up with their competitors.
To avoid pitfalls, you can hire a seasoned mentor with the right expertise and openness to trends. With transparency, trust, and flexibility, newcomers can surpass challenges and even established companies.