Campus Angels Network’s Post

Your thoughts have a significant impact on your actions, and this principle applies to business as well. your thoughts are the foundation upon which your business is built. Cultivate a positive and strategic mindset to drive your business towards success. Remember taking a small step to start a business is far more better than doing nothing and accepting failure. #MindsetMatters#StrategicThinking#LeadershipMindset#mentoringmind#EthicalBusiness#TeamCollaboration#startup#freelancer#CEO#founder

Let's talk about something that businesses often shy away from discussing - why do they choose to pivot? It's a fascinating topic that can teach us a lot about the dynamic world of entrepreneurship.  Businesses often pivot their business model when they face challenges that make their original approach unsustainable. It's a bold move that requires a willingness to adapt and find a new path to success. But why is it so important? Well, pivoting is a natural part of the lean startup methodology. It encourages entrepreneurs to experiment and make small changes based on customer feedback. This helps them discover the right product-market fit before fully committing resources. And that's not all - pivoting can also involve changing other aspects of the business, like the target customer segment or revenue model. Pivoting is a valuable strategy because it allows businesses to respond to new competition, changing market conditions, or flaws in their original assumptions. Rather than stubbornly sticking to a failing model, pivoting enables them to survive and potentially thrive by finding a better fit. And some of the most successful businesses in the world, such as Twitter, Groupon, and Instagram, owe their success to strategic pivots. However, it's important to remember that pivoting must be done carefully and based on verified data, not just trends or funding considerations. Hasty or unfocused pivots can lead to dead ends. The key is to ground the pivot in what the business has learned through experimentation and maintain the core strengths while adapting to new realities.

Founder mis-match is one of the top reasons startups fail. When I started the search for a co-founder, I made a list of the top 5 criteria I was looking for in that person. If a person didn't check all of these, I wouldn't move forward. This was the first time I wrote these down, but these criteria really apply to any close business relationship. 1. Alignment of vision 2. Complementary Skills 3. Resilience 4. Integrity 5. Trustworthiness If you are looking for a co-founder, create a list. Take the decisions seriously. It will be the first, and most likely one of the most important decisions, you will make as a founder. https://lnkd.in/gRdYxZSk

Pitching your startup idea soon? You've probably poured your heart, soul, and countless hours into your startup. It's your brainchild, and the time has come to share your vision with potential investors. But remember, while your story feels like an open book to you.. It's crucial to have the right balance when presenting. Here are a few tips to help you feel more confident: 1. Less is more, so keep it under 15 slides Your pitch deck should inspire even in 15 slides or less. Overloading with slides can suggest a lack of clarity. 2. Use your given time wisely Usually, you'll have 3 to 7 minutes. Stick to it, capture attention, don't test the investors’ patience. 3. Cut excess details Highlight the core of your business. Dive deeper when they probe during Q&A or in follow-ups. 4. Storytelling is a powerful tool Kick off with a story. It should be engaging, relatable, and lay the foundation for your pitch. 5. Numbers speak so know yours While it's a no to data dumping, be ready with your key metrics when they ask. 6. Be open to feedback Valuable insights can come from unexpected remarks. Listen, absorb, adapt. 7. Make your ask clear By the end, they should know exactly what you're seeking. 8. Preparation is key Rehearse, refine, repeat. They will instantly see if you are not ready. BONUS: Your main goal is to secure that second meeting. First pitches aren't about sealing the deal, but sparking interest. Save the details for when they're deeply invested.

5 Tips for Finding the Right Co-Founder as a Startup Founder Like a good relationship, your partner could determine how much you can extract from your potential. Finding the right co-founder could be what makes your company successful. After observing many entrepreneurs who found their co-founder partner at Solution, here's what we've learned: 1. Be Specific with Roles Define specific roles and responsibilities from the beginning. This avoids confusion and ensures that everyone knows their contribution to the startup's success. Specificity also helps in evaluating progress and making necessary adjustments. 2. Shared Vision Make sure both you and your co-founder share the same vision and common goals. Having aligned perspectives on life and business can help you manage, direct, and navigate your company towards success more effectively. 3. Set Clear Expectations When looking for a co-founder or first employee, be clear about what you need and what you expect from them. Make sure they know you're serious and committed. This clarity helps in building a strong, aligned team from the start. 4. Start with Friendship Choose a co-founder you genuinely get along with. A solid friendship helps build trust and makes it easier to work through tough times and make decisions together. 5. Complementary Skills Look for a co-founder whose skills complement your own. This diversity in strengths can help cover more ground and drive your startup's success from multiple angles. Share your tips for founders who are seeking their co-founder!

So you've got a brilliant startup idea, but tackling it solo feels like climbing Everest in flip-flops. You need a co-founder, but where do you begin? Here are the steps you need to follow: 1. Know thyself: Before diving into the co-founder pool, be clear on your own strengths, weaknesses, and goals. What skills are you missing? What values are non-negotiable? Knowing your own needs helps attract the right match. 2. Define the ideal partner: Craft a detailed profile of your ideal co-founder. Are they a tech whiz to complement your marketing prowess? A seasoned leader to navigate the business landscape? Be specific! 3. Shared Values & Vision: Aligned values are the foundation of a strong partnership. Do you share the same work ethic, long-term goals, and approach to decision-making? Shared values ensure you're rowing in the same direction. 4. Trust & Communication: Can you be brutally honest with each other? Can you celebrate wins and navigate challenges together? Open communication and mutual trust are essential for weathering the inevitable storms. 5. Passion & Grit: Building a startup requires resilience. Seek someone who shares your passion for the idea and possesses the unwavering determination to see it through. 6. Test Drive the Partnership: Don't rush into a co-founding commitment. Collaborate on smaller projects, volunteer together, or even take a trip. See how you work together under pressure and in different environments. 7. Define Roles & Responsibilities: Clearly defined roles prevent confusion and foster ownership. Outline areas of responsibility, decision-making authority, and compensation structures early on. 8. Don't Be Afraid to Walk Away: It's okay if someone doesn't tick all the boxes. Remember, a bad co-founder can derail your entire journey. Trust your gut and be willing to wait for the right fit. P.S. Finding the perfect co-founder takes time, effort, and a healthy dose of self-awareness. By following these steps and prioritizing the right qualities, you'll increase your chances of building a dream team that propels your startup to success. #startup #cofounder #partnership #business #entrepreneurship #linkedin

𝐇𝐨𝐰 𝐭𝐨 𝐟𝐢𝐧𝐝 𝐭𝐡𝐞 𝐫𝐢𝐠𝐡𝐭 𝐜𝐨-𝐟𝐨𝐮𝐧𝐝𝐞𝐫? (To recap, I strongly believe that to start up, more than a great idea, one needs the ‘right’ cofounder) The search for a co-founder is similar to the process of dating. You have some criteria to start with. Within those, you explore, meet people, and then decide if they are right for you. Depending on how it goes, you might tweak your criteria too. Deciding on a co-founder is much easier when you know each other well already. Else it takes a long time to get to the required depth of ‘knowing each other’. I’ve often seen people take impatient decisions in this process, only to regret later. Srivatsan and I were close friends for many years before we started thinking about becoming cofounders. For a few months we even looked for a third co-founder, and met with a few people. Ultimately we decided to go ahead with just the two of us. Here are a few things that helped us take the decision: 𝐀𝐥𝐢𝐠𝐧𝐞𝐝 𝐕𝐢𝐬𝐢𝐨𝐧 𝐚𝐧𝐝 𝐕𝐚𝐥𝐮𝐞𝐬: Sharing the same vision is crucial. Eg if you have a 10 year horizon for the startup, while your cofounder has a 5 year horizon, things are destined to break at some point. To assess our alignment, Srivatsan and I wrote a set of deep questions for ourselves, answered them independently, and read our answers to each other. (I had shared this list in an earlier post - link in comments) 𝐌𝐮𝐭𝐮𝐚𝐥 𝐭𝐫𝐮𝐬𝐭 𝐚𝐧𝐝 𝐫𝐞𝐬𝐩𝐞𝐜𝐭: You should be able to trust each other's abilities, ethics and intuition. During the company’s journey if the cofounders keep logically questioning each other about everything, it’s a problem. (However, blind trust is also not okay). It’s also important to see each others’ strengths, weaknesses and biases, and give clear, honest feedback regularly. 𝐕𝐮𝐥𝐧𝐞𝐫𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐚𝐧𝐝 𝐛𝐨𝐧𝐝𝐢𝐧𝐠: Entrepreneurship can be lonely. You should be able to express, communicate and share things vulnerably with your cofounder. Understanding each other’s context, including upbringing, family, finances, passions etc also helps a lot in developing mutual empathy. Srivatsan and I have a ritual - we do a combined family outing at least once a year, and visit each other regularly. 𝐂𝐨𝐦𝐩𝐥𝐞𝐦𝐞𝐧𝐭𝐚𝐫𝐲 𝐬𝐤𝐢𝐥𝐥𝐬: Having a complementary set of functional capabilities is indispensable. There are many things that Srivatsan can handle much better than me. Some of those things would actually frustrate or demotivate me if I had to do them for a long period of time. One of the earliest examples of this in Skydo’s journey was when Srivatsan spent many months setting up the company, creating the right esop structure, and completing the seed fundraise paperwork, while I focused on building our MVP. If I had to be involved in the former, it would tire my creativity and deep thinking, and not let me do a good job at the MVP. Those who have already started up, I would love to know what worked for you when choosing a cofounder.