Thinking of launching a mobile startup? Here’s the best place for advice

Thinking of launching a mobile startup? Here’s the best place for advice medium.com/@robertj5343/thinking-of-launching-a-mobile-startup-heres-the-best-place-foradvice-46ddfaa11263 Robert Johnson 27 February 2019

Robert Johnson Feb 27

While launching a mobile startups can seem like a great idea, actually implementing it can be a harrowing experience for a beginner. Finding a reliable mentor is not easy for every entrepreneur and unscrupulous people may misguide a new entrepreneur. Finding reliable advice is a challenge for people looking to launch. Here is a compilation of advice that entrepreneurs looking to launch mobile start-ups will find helpful: Use equity wisely Investors recommend that mobile startups should be conservative in their decisions while raising funds and asking investors for money. This is because,until the idea proves to be monetarily beneficial, investors will be hesitant to invest a lot of money.

Pick the right investor

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A mobile startup can only succeed if the vision of the founders and the investorsmatch. This is important because when founders are raising capital, they should not settle for anything less than driven investors who believe in their idea and set as high a standard as the founders would hold themselves to.

Let go A mobile startup is about teamwork. The founder may be the one with the idea and the vision but cannot be expected to do everything alone as it cannot be a one-man show. Founders of successful understand that they need to let go of controlling everything minutely and decentralize decision making to higher quality talent in the team. Failure to do so can hinder growth drastically. This applies to investors too. Investors need to be able to trust the start-up and not try to tightly control and keep detailed track of how their money is being used.

Aim for profitability The focus of a mobile start-ups, in order for it to succeed, should be profitability,which is the entire reason for its existence. Though raising funding is important,It should not lose sight of the fact that they need to be profitable in order to survive.

Beware of the fakes Both, the mobile start-up and the investor should be reliable. If any party has a history of backing out of agreements, there is no guarantee that they will abide by a written agreement or signed contract. Doing good background research to check for unethical practices on either side is essential.

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It can learn a lot from the failures and mistakes of bigger business organizations such as the fact that dreams and aspirations cannot substitute aprecise business plan, companies cannot fund dreams and so on.

Failure is okay Failure is part of the learning and growing curve. Mobile startups will make mistakes and face failures and they need to learn from them. Many start-up try to compete with bigger organizations to solve larger problems and fail in the process. Instead of learning from their mistakes, they tend to give when they could have learned and achieved their potential.These are just some tips to keep in mind when they begin.

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