After being involved in more than 10 building startups, I’ve learned that there are a few things that can make the building process go more smoothly. Money flies when you are building something, so you need make sure the money is going where you think it's going. Building a startup is an exciting but sometimes challenging time.
When you are starting with your own money (a.k.a bootstrapping), you don't spend money for something of less value but make sure that it's for a good value of your growth.
Here are 5 tips you can put to use for startup survival and growth process:
Avoid Debt
If you want to achieve success then you need to avoid debt at all costs. A startup with the lowest cost and no debt, will have the highest chance of success.Think about how you live
When you build your own startup, you need to save more money which means you need to change the way you live and spend less. If you have a wife or husband, you need to talk about it honestly. Sometimes that very first step is the hardest part.Consistency
You need to be persistent and consistent all the time, it is easier said than done. Sometimes, the projects/traffic/sales are there but sometimes, they dry up and you don’t even know when the next one will come.Time
This is the most precious resource. Time management can have serious implications on any startup. Every second you save can make the difference.Make sure you pick a partner who seems professional, has integrity and is honest.