Todd Crosland and Other Successful Entrepreneurs on Young Startup Entrepreneurs

A recent article in Young Upstarts deliberates the developmental phase that every startup company goes

through: taking the idea and implementing it into a real, tangible product that creates revenue.

A lot of young entrepreneurs might turn to accelerator programs, venture capital, or angel

investing.

However, this leads to sacrificing equity and freedom at an early stage of their company,

which isn’t necessarily ideal.

The term bootstrapping is where young entrepreneurs will max out their credit cards and turn their homes into permanent

working locations where they work late nights and early mornings.

The article continues to give five pieces of advice from entrepreneurs who have gone through the

bootstrapping process and come out the other side.

The first words of advice are from Samuel Huber, founder of Betify.

He states, “Budgeting is king.”

It is important to know exactly how long your company can last without revenue and external

investments.

Huber says to create a month-by-month revenue log and multiply that by 1.5 to be on

the safe side.

The next word of advice is from Martin Brinkmann, founder of Deez.io.

His word of advice is “prioritize.”

Prioritizing funds and development is crucial to getting the product out on the market.

A lot of time could be wasted nitpicking on “your baby” when the product is ready to hit

the market.

Steven Lammertink, founder of cirqle. nl, tells us to master the pitch.

The products pitch is how an entrepreneur will let investors and high-profile individuals know

about the product.

It is important to have a strong pitch to act as a good first impression.

The pitch should include what the product is, the market opportunity, and value

propositions.

Entrepreneurs should take on investors on their own terms, says founder of chekk. me, Pascal

Nizri.

A startup needs to be at the right stage of development to take on investors.

Entrepreneurs are ready to take on investors if they want to expand their business or receive

mentorship.

Bankruptcy and last resort should not lead an entrepreneur to seek investors.

The last piece of advice is from our very own, Todd Crosland, founder of Seed Equity

Ventures.

His advice is to preserver.

Nowadays there are thousands of venture capitalists controlling the startup industry, but soon enough individual investors from all around the world will start influencing the

startup industry more and more.

There are more funding options in the future, so there will be plenty of more opportunities

for entrepreneurs in the near future.