10 Tips for Entrepreneurs in 140 Characters
I would to share today 10 tips in 140 characters or less I learned from my past work experience, my observations of other startups and from my own experience with ArabCrunch since it has been around 6 month when your startup ArabCrunch got funded and moved from a one man show to a team based venture:
1- Set priorities early: identify what are the most important things you need to do in the first 2 month after getting funded and execute.
2- Hire early: hiring should be in your top priority, you wont have the time to make your startup grow alone.
3- Know your self well: your strength, can you or your partner be CEO? if not hire one.
4-Stats stats stats: know your stats by the day, week and the month, if not as they should be, arrange group meetings and irritate.
5- Do your finances: record your self- every penny (Derham) you spend, accountants do mistakes!
6-Identify essential skills: Arab market is short of managerial & marketing skills, understand what is the minimum skills early.
7- Look for mentors: understand early-on what type of help you need, no one is an ultimate guru, ArabCrunch.NET can help you for free here.
8- Set your company culture early on: if you set the wrong culture it will creep with you as your team grow.
9- Delivery on-time: make sure you and your team deliver on time, if you do not do so, you will never finish projects & you’ll loose markets.
10- Reward your fan base: fans are the ones who are promoting you for free, make sure to engage them at least with “Thank you : -)”
11- What is your 11th?
uberVU - social comments | March 27th, 2010 at 11:36 PM #
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Samer Baydoun | March 28th, 2010 at 2:27 AM #
Thank you for your useful tips, I may use them personally, but I think that the last few tips are general and go for non-startups too.
Jamal | March 28th, 2010 at 8:58 AM #
11- Concentrate on uniqueness, small unique ideas can bring you success, after all this what a startup is really about. Unique and innovative ideas are usually easy to develop and have more chances to get popular, think about Twitter for example.
Gaith Saqer | March 28th, 2010 at 10:41 AM #
@samer you are right but they are also often forgotten so it would be good to remember them.
@jamal: nice tip
Khawaja M. | March 28th, 2010 at 11:53 AM #
Build the right team.. you can change your idea or your target market; but can’t -easily- switch partners!
Firas Steitiyeh | March 28th, 2010 at 12:06 PM #
Tip number 6 is more than 140 characters
Gaith Saqer | March 28th, 2010 at 12:32 PM #
@khawaja: thanks very good tip
@firas opps I just fixed
Danielle | March 28th, 2010 at 1:55 PM #
Great tips.. another one I recommend – develop contacts with media – they’re the ones that will generate more coverage for your business and attract more clients!
Samer Baydoun | March 28th, 2010 at 4:54 PM #
@Khawaja, you’re right for some cases but I think sometimes the targeted market plays major role in selecting partners or team, due to lingual or cultural matters…etc
Asad Akbar | March 28th, 2010 at 11:10 PM #
Don’t put yourself above taking care of the non-glamorous parts of running a company.
kinano | March 29th, 2010 at 8:17 PM #
11- Learn to delegate: Make use of your team; they are there for a reason. The more you delegate, the better you are at managing your firm.