This afternoon, as I was preparing to have coffee with entrepreneur “Wil Schroter”:http://www.gobignetwork.com/profiles/Wil-Schroter.aspx, whose “previous Found|READ post”:http://gigaom.com/2007/07/03/stop-hiring-people-to-do-your-job/ you may have read, I ran across a great post on his site called “Five Ways to Move your Startup Forward without Cash”:http://www.gobignetwork.com/wil/2007/7/10/five-ways-to-move-your-startup-forward-without-cash/10175/view.aspx. As described, the piece has useful tips for how you can get your business off the ground without falling into that particular trap of hesitation that keeps so many of us from doing what we really want to do: the fear of not getting funded.
*As Wil says in Tip 5:* “When you write a business plan with the idea of getting funded in mind, you tend to think … ‘if I get funded, I can start.’ Try writing a business plan that involves zero funding and begin putting your milestones in place for that company.”
Your odds of success, Wil argues, will be higher if you get going before waiting to get that cash that you think will make founding a bit more comfortable. I think Wil is right: carpe diem, in a capital sense, is what this philosophy boils down to. *While the tips might seem obvious, we can all use reminding that there is always something we can do, each and every day, to advance the ball whether we have cash in the bank, or not.*
His other tips include:
*Tip 1: Do all the setup stuff now.* It costs next to nothing to incorporate, setup your bank accounts, draft your partnership agreements, find your hosting provider,
*Tip 2: Start recruiting.* You don’t need to wait until you have money to recruit talent. At the very least you can start having a coffee with these people and get the conversation going.
*Tip 3 Work on the product yourself.* Even prototyping the product as best you can without cash is a big deal.
*Tip 4: Talk to prospective customers.* Sure, you don’t have a product now, but that’s no reason to avoid talking to customers. Even if all you have are prototypes or a general concept for the product, the faster you can get some real customer feedback the better.
Please read the full text of Wil’s post “here”:http://www.gobignetwork.com/wil/2007/7/10/five-ways-to-move-your-startup-forward-without-cash/10175/view.aspx. And check out his site –” TheGoBIGNetwork”:http://www.gobignetwork.com/, it is another great resource for founders of startups.