Being an entrepreneur is one thing, and having global business dreams is a different ball game altogether. The challenges of breaking into a market overseas are unimaginable, but the rewards make it worthwhile. Not surprisingly, countless entrepreneurs try their luck with the idea every year. Choosing the right destination makes a difference because some countries have a more business-friendly environment than others. 

Must Read: Running a Small Business? Here are 7 Ways to Manage Your Stress

Italy is an excellent place to launch an international venture because it has the best of everything between lucrative markets and easy immigration norms. According to the team of Investor Visa for Italy LLC, you can land in the country and start your venture within months with the Italian investor visa. Let us share some valuable entrepreneurial advice for this immigration option.

Pick the minimal investment alternative

Startups often run on shoestring budgets, so entrepreneurs need to spend frugally. With the Italian investor visa, you have the choice to manage the immigration expenses according to your budget. You can explore multiple investment alternatives, ranging between €250,000 and €2 million. Experts recommend sticking with minimal investment alternatives to ensure that immigration does not disrupt your startup budget.

Get your bank statements ready

The process for the Italian investor visa is relatively simple as it has only two steps that complete within months. But you need to get your bank statements ready to close at the earliest. Although you need not bring in the funds at the application stage, you must provide the bank statements showing your capacity to invest to obtain a certificate of no impediment. Having your bank statements ready gives you a head start. 

Arrange the funds before landing

Another piece of advice entrepreneurs must follow is to arrange the funds before landing. You have to deposit the committed amount within three months of getting the Italian residence permit. So having your funds ready keeps you on the safe side. The good thing is that you can get your loved ones along without depositing additional amounts for them. But you will need to verify your capacity to support them with proof of income.

Leverage the power of residency

Once you get your Italian residence permit, you must leverage it to expand your business. Being a resident gives you the freedom to travel across the EU without visa formalities. It is a massive advantage for your startup as you can explore global markets, prospect clients, and attend international trade shows on the fly. Be ready to leverage the power of residency to set up your business for success.

Be willing to invest for the long haul

The most significant tip for entrepreneurs looking to set up abroad with the Italian investor visa is to be willing to invest for the long haul. Staying in the country for a decade and holding the funds for this period makes you eligible for citizenship by naturalization. You can stay back for good and reap the benefits of your hard work by obtaining Italian citizenship. The best part is that you and your family acquire one of the most powerful passports.

Following these insights sets you up for success with a smooth investor visa journey. You can get in with minimal investment and an easy process and stay for good as an Italian citizen. 

The post Entrepreneurial Advice For Italian Investor Visa appeared first on The Startup INC.

According to 2021 research by the U.S Bureau of Labor Statistics, 20 % of new businesses fail within the first two years of operation. Many entrepreneurs launch their businesses thinking they will open doors and start making money immediately, only to find that it is more complex than they fathom.

There is no doubt that there is a lot on your plate as an entrepreneur. Minimal business hiccups will help you turn your business into reality. Before launching your business, taking your time and planning out all the crucial steps, you need to build a business that will thrive now and in years to come would be best. In this article, we will give you pieces of advice that will help you succeed in your business.

Have a Business Plan

Some entrepreneurs jump into startup mode without a business plan. Having a business plan is crucial as it will help you check the viability of your business before investing a lot of time and money in it. A good business plan will help articulate the strategies for starting and running your business.

Moreover, it will help you set goals and provide an insight into the steps to achieve them and the resources and timelines for the anticipated results. With a business plan, you can identify your business risks and come up with mitigating factors. Yes, a business plan is a road map to success.

Learn your Niche

Your business will succeed if you identify a niche in the market and corner it. Providing a product or service that no one or only a few entrepreneurs have thought of will boost your business success. Moreover, study your niche and improve your products and services to continue to cater to their needs and interests.

Related Read: Why Your Startup Needs A Strong Value Proposition

Hone your Financial Skills

Honing your financial skills will help you understand your business’ finances and factors that could affect your profitability. Learn financial skills like budgeting, keeping financial records, sensible investing, and responsible borrowing by studying and listening to the best financial podcasts. This will help you gain financial management skills to elevate your decision-making, leadership, and negotiation skills. You will also cut your operation budget and invest wisely. Yes, financial skills will expand your knowledge of revenue management, and thus you will succeed in your business.

Analyze Your Competition

Competitors can threaten the success of your business. Therefore, it would be best if you plan and be steps ahead of them. Study their strategies and do better than them. Ensure that the quality of your products or services is way ahead of your competitors.

Be Organized

For you to succeed in business, you need to be organized. It will help you stay on top of things you need to do and complete tasks on time. Create a to-do list daily and check it off once you complete a task. List the tasks in order of priority. This will ensure that you do not forget any task and complete all the tasks that are important for the thriving of your business.

Wrapping Up

Running a new business can be scary and stressful. But it can be rewarding and fulfilling if you do it right from the beginning. We hope the tips we have covered above will prepare you for your long and successful entrepreneurial journey.

The post 5 Essential Advice for New Entrepreneurs appeared first on The Startup INC.

Cold calling is a valuable strategy for new businesses to spread the word and capture leads. Although it is more like a hit and trial, it is perhaps the only way to go when starting from scratch. But calling people randomly and getting a poor response can be frustrating for a sales team. It can lower the morale of your employees and lead to a waste of already scarce resources. The best way to address the concern is to fine-tune your strategy to improve the success rates. Let us share some surefire cold calling tactics startup entrepreneurs can rely on. 

Think beyond scripts

Most companies have a tried-and-tested cold-calling sales script for their team, but startups begin with a clean slate. Consider it a pro instead of a con because a word-for-word script may actually leave you sounding stiff. Conversely, talking to a prospect without a script makes the conversation more natural and intuitive. You even have a chance to strike the right chord and get a quality lead. Using a loose outline to guide sales calls is a good option if you want something to start with. 

Avoid pushing sales right away

Although you will be eager to get off the mark with startup sales, avoid pushing the prospect at the first interaction. Follow the primary goal of creating contact and learning about their needs. It enables you to build a connection with the prospect and strengthen it in the subsequent calls. You can seal the deal within a few calls, and even better, create a long-term relationship with the customer. 

Partner with a pro

As a startup owner, you have endless to-do lists and tight budgets, so staying afloat is challenging. Experts recommend partnering with a pro to outsource Cold Calling Services instead of hiring a team to handle the process. Outsourcing has a dual benefit as it lets you achieve your lead generation targets and cut costs of hiring, training, and retaining an in-house team. Moreover, these experts have valuable experience that makes them great at the job.

Time your calls well

A robust cold calling plan goes beyond engaging the prospects with relevant conversations. It is also about timing the calls well so that the recipient is willing to listen and talk. You cannot expect a business leader to attend to your call in the middle of a busy workday. Likewise, you can find the industry-specific sweet spot to improve the chances of lead closure. For example, connecting near the end of the client’s fiscal year is a good option when selling financial products or services.

Have a follow-up plan in place

A cold call may go well, but you cannot expect it to yield a conversion because prospects tend to forget about it sooner than later. But having a follow-up plan gives you better chances to close the deal. You can schedule subsequent calls, send follow-up emails, and reconnect on social media platforms to stay in touch with the prospect. Be proactive and persuasive without pressing too hard.

Cold calling is vital to push your startup sales and maintain momentum. But you must have a robust strategy to get results from your efforts. These tips can help you set the pace and maintain it down the line. 

The post Cold Calling Tactics Startup Entrepreneurs Can Rely On appeared first on The Startup INC.

Startups often struggle with cash constraints as it is challenging to fit everything within the shoestring budgets. You may have to set priorities and keep some things for later. For example, you may run with smaller teams, pick fewer software solutions, and skip scaling operations for a while. However, you must choose wisely to ensure nothing compromises growth and profitability. Everything boils down to making the apt money decisions as they can help you save where possible and spend where required. Let us suggest the best ones keep your startup afloat and propel its growth.

Invest in a new market

Although picking a relatively new market may sound risky to an entrepreneur, the idea is likely to pay off, provided you do it wisely. You only need to do your homework and research the market opportunities and buyer expectations well. You can actually get a good start in an area with low competition. Consider fine-tuning your offering to stand out even if you have a few competitors to beat. It gets easy to make more with less to sustain through the early stages and reinvest for business growth. 

Spend on employee training

Spending on employee training is another money-savvy decision for a startup. A trained workforce is more productive and makes fewer mistakes, so you can expect to save even as you spend. Look for people with multiple skills or train them to imbibe additional ones as it enables you to operate with a smaller team. Think beyond training as a part of the onboarding process, and consider running an ongoing initiative to build a high-performing team.

Outsource whatever possible

Another effective financial measure that lets you run with a smaller team is to outsource whatever is possible. Luckily, finding business process outsourcing experts is easier than ever as several trusted providers offer a broad range of services. You can pick repetitive tasks such as payroll, accounting, customer support, and more. Running with a small in-house team can save you a fortune on hiring, training, infrastructure, and retention. Additionally, you have experts handling your processes for the best outcomes. 

Upgrade your technology

Besides outsourcing business processes, consider spending on technology upgrades to empower your staff. Start with providing them with the latest hardware to speed up daily tasks. Software tools that enhance productivity and collaboration also make a worthy investment. Remember to spend on cybersecurity technology as it can protect your startup from hefty penalties in the long run. Technology is a worthy investment, so do not hesitate to allocate a part of your budget to it. 

Look for additional revenue streams

The best money decisions for startups are not only about cutting expenses. You can get smarter by looking for additional revenue streams with your existing resources. Consider writing an e-book and selling it online. You can find outsourcing opportunities and let your software team work for clients when they do not have in-house projects to work on. You can even rent out the extra space in your building for a steady income stream. 

Being money savvy can give your startup a good start and strengthen its finances down the line. Follow these actionable ideas to win on both fronts. 

The post Best Money Decisions To Keep Your Startup Afloat appeared first on The Startup INC.

As a startup entrepreneur, you can expect a journey fraught with financial and operational challenges. The money never seems enough, and operations appear too complex to handle. You feel stuck between endless to-do lists, client calls, investor meetings, and more. It is easy to overlook legal risks at this stage because they are less pressing than other challenges. 

But remember that even the smallest issue can land you in massive trouble. The last thing you can bear during the startup stage is the cost of litigation. A penalty is even scarier as it can disrupt your finances. It is better to know the risks and avoid them altogether. Let us share some valuable recommendations for startup entrepreneurs to help ditch litigation risks.

Have a clear contract with co-founders

Entrepreneurs often have co-founders on board because it is easier to navigate the startup journey with good support. But you must have clear agreements on your business relationship with co-founders right from the start. Failing to have a written contract can lead to disputes and significant legal problems later. Do not settle for a random agreement, but let a business lawyer write and review its clauses to be on the safe side. Ensure including terms like equity and profit share, roles and responsibilities, rights, and exit clause to prevent problems down the line. 

Pick the company name carefully

You may face litigation for picking the wrong company name, no matter how good your intention may be. Choosing a name or trademark already in use entails infringement, which is legally incorrect. You must do your research to prevent domain name problems and copyright infringement. A simple Google search gives you a good start as it shows companies using the same or a similar name. You must also verify it with the patent office to ensure no trademark registrations on the proposed name. Even better, consider hiring an intellectual property lawyer to keep your business safe from litigation. 

Consider fraud defense

It is easy to believe that businesses cannot be held liable for criminal charges. However, you may face a criminal allegation if an employee or representative commits fraud while naming your startup. Entrepreneurs are more likely to encounter such problems due to a sheer lack of awareness. You must get criminal defense services sooner than later at the first sign of trouble. The last thing you should do is to take things for granted because you will have to pay for someone else’s fraudulent act if found guilty by the court. But a criminal defense lawyer can clear your name, salvage your reputation, and protect your business from penalties. 

Stay ahead of employee litigation

Employee litigation is one of the most daunting concerns for business owners. The risk runs higher at the startup stage because you are likely to miss out on your defenses against litigation. Start by checking the employment law and ensuring compliance to be on the safe side. Non-compliance can bring massive penalties, even if it is unintentional. Go the extra mile with employment contracts to keep everything clear and transparent. Make people sign non-disclosure agreements to maintain security and confidentiality for client information and business secrets. Also, create a safe workplace for your employees because work injuries can also bring lawsuits and reputational damage. 

Minimize the risk of customer injuries 

Customer injuries are another matter of concern as they can bring personal injury lawsuits. Slip and fall incidents on your premises are a leading cause, so be sure to implement relevant safety measures on-premises. Defective products can bring product liability lawsuits, but you can prevent them with cautious product development and testing processes. Businesses owe a duty to care for their customers, and accidents and injuries indicate a breach of duty. You will have to pay massive compensation to injured customers if negligence is proved. Taking the necessary steps to prevent mishaps is your best defense. You must have business liability insurance to bear the burden of such claims if they still come.

Litigation is often the last thing on an entrepreneur’s mind during the startup stage. But it can have dire implications on your business finances and reputation. You must take relevant measures to steer clear of legal hassles in the first place. But they are often unavoidable, so having an expert handling your defense is equally crucial. Think beyond a business lawyer because you may even need criminal defense if you encounter fraud allegations. Knowing these legal facts and staying a step ahead can save you from lawsuits and penalties in the long run.

The post How Startup Entrepreneurs Can Ditch Litigation Risks appeared first on The Startup INC.

Recruitment is an essential process for every company, regardless of its size. It covers the entire process of attracting, assessing, and hiring employees to fill vacant positions. Unfortunately, the recruitment process can be long and tedious, especially if you’re not attracting suitable candidates.

It can be tough to attract the right candidates for a job. Sometimes, the process takes up a lot of resources, and finding someone who is a good fit for the role is challenging. Unfortunately, it can also do a lot more than just that to your company, one of which is increasing your employee turnover.

The Problems With Hiring the Wrong Candidates

Employee Turnover

Hiring the wrong candidates can lead to high employee turnover. This is because they might not be a good fit for the job or the company, and they’re more likely to leave than employees who are a good fit.

High employee turnover is costly for companies and can lead to a loss of productivity. It’s estimated that employee turnover costs about 33% of the employee’s overall salary. So if an employee earns $50,000 a year, it would cost the company $16,500 to replace them. It can also damage your company’s reputation if you have many employees leaving.

Bad Fit

When you hire someone who is a bad fit for the job, it can lead to problems. They might not be able to do the job properly, which can cause frustration for them and those who have to work with them. It can also cause problems if they don’t get along with their co-workers.

Not Meeting Expectations

When you hire someone who is not a good fit for the job, they might not meet your expectations. It can be frustrating and cause you to waste time and resources training them.

Decreased Productivity

Hiring someone who is not a good fit for the job can lead to decreased productivity. It’s because they might not be able to do the job properly, which can lead to frustration and conflict, both of which can lead to your company’s downfall.

Deliquency

Lastly, there is the potential for delinquency. Employee delinquency can damage a company’s reputation. Furthermore, it can further increase costs and the potential for conflicts. It’s primarily caused by not doing proper background checks on applicants.

These are the various problems that can arise from hiring the wrong candidates. As you can see, taking your time and finding the right employees for your company is essential. Don’t rush the process, and do your due diligence.

How to Attract the Right Candidates

Now that we’ve gone over the problems that can arise from hiring the wrong candidates let’s look at how you can attract the right ones.

You can do a few things to ensure you’re attracting the right candidates. The first is through job boards.

Job Boards

When you’re posting a job, make sure you’re using the right keywords. It will help ensure that the right people see your job description. You should also make sure you’re using the right job boards. There are a lot of job boards out there, and not all of them are created equal. Do some research and find the most likely to attract suitable candidates for your job.

Social Media

Another great way to attract the right candidates is through social media. The majority of applicants are looking for jobs on social media. You can use social media to post jobs and reach out to potential candidates. You can also use it to connect with employees who might be a good fit for your company. It’s also a great way to do background checks on your applicants. The majority of employers do this as a starting background check.

Employee Referrals

Employee referrals are another great way to find the right candidates. Your employees likely know people who would be a good fit for your company. They can help you screen candidates and find the right ones for the job.

After doing these things, you can start attracting suitable candidates for the job. But how do you know they’re right? Well, you can do it by conducting a robust applicant interview process.

Job Interview

Job interviews are crucial when picking the right candidate. It’s essential to ask the right questions and get to know your applicants. This way, you can weed out those who are not a good fit for the job.

However, it can be tough to keep track of schedules once you have a lot of applicants on your door. Getting an interview scheduling tool can make it easier to track your interviews and ensure you’re seeing the right candidates. It’ll also help move specific schedules faster and more efficiently if something comes up on the day.

After conducting your interviews, you should have a good idea of who the right candidates are. From there, you can decide and hire the best person for the job.

By following these steps, you can ensure you’re attracting suitable candidates and choosing the right ones for your company. This will help to ensure that your company is productive and successful.

The post The Act of Attracting The Right Candidates appeared first on The Startup INC.

Your startup can end in two ways. One, it goes under, or two, it gets acquired. Any sensible entrepreneur will hope for number two, which means preparing your startup for a life-changing exit in the future. Now, you might think exit planning starts when you’re ready to sell, but if you want to sell quickly and easily, it should start long before (at least a year). Why? Because the more prepared you are, the better your outcome. 

Acquisitions can be difficult and complex. You have to find buyers, attract their interest, negotiate terms, undergo due diligence, and transfer assets (assuming it’s an asset purchase and not a stock sale). Throughout these stages lie legal pitfalls, areas where a missing document or misused term can stall or derail your acquisition. Buyers don’t like surprises, and if you’re unprepared, they’ll likely keep their distance. 

The best defense attacks, as they say, so if you want to get your startup acquired without the usual headaches, start preparing now. Below, are a series of steps to follow when positioning your startup for acquisition. They include why acquisition goals are important, how to market your startup, and how to prepare your startup for acquisition (including what documents to prepare and who can assist you). 

Set Acquisition Goals

What would get your startup acquired mean to you? You might take early retirement, start a new venture, or even stay on with your business under new ownership. The possibilities are varied and what you want will determine how to position your startup for acquisition. If you’re planning to take time off, you’ll likely want the buyer to pay cash, which will impact your buyer pool, negotiations, and how you structure the acquisition deal.

On the other hand, if you’re starting a new venture or staying on, perhaps upfront cash isn’t as important. You might accept a down payment and then offer financing through a seller note (a debt instrument where the buyer owes you) or earnout (where you get paid upon your startup hitting certain milestones). Getting acquired as fast as possible or finding buyers that align with your mission will also influence how you plan to exit. 

Consider Your Buyer

Also, what does a buyer want from your startup? Financial buyers expect different things to strategic buyers, for example. A financial buyer wants a return on investment but a strategic buyer acquires companies that bolster their own (they might acquire IP, talent, or new markets, for example). Although strategic acquisitions often make the news, financial acquisitions are more common. 

Attracting the interest of a financial buyer might only mean demonstrating strong revenue and profit growth with attractive future projections. But if you want to get acquired by a strategic buyer, you might have to switch to their tech stack, location, or develop products and enter markets they’d find useful. Improving your financial performance is arguably easier than adjusting your operations, so factor time and effort into your exit plan.  

Reflect on Your Startup’s Strengths and Weaknesses

Acknowledge that you’re emotionally attached to your startup. You were there when customers were few and the product was mediocre. You stayed up late to fix bugs or draft SEO and marketing campaigns. I wouldn’t blame you for overestimating your startup’s strengths while underestimating its weaknesses. But now is not the time for subjectivity. Take the rose-tinted glasses off and scrutinize your startup as a buyer would. Be honest. 

Understanding your startup’s strengths will help you market it to buyers. Whether it’s your codebase, features, or superior customer support, know what makes your startup uniquely brilliant. What differentiates it from the competition? Strong financials? A lean, agile business model? Fantastic. Learn how to articulate these strengths in the best light possible, and how they support a return on investment to any prospective buyer. 

But more importantly, get to know and accept your weaknesses. Your startup needn’t be perfect to get acquired (none are), but you must be transparent about its faults. Strangely, your startup’s faults might be the very thing that attracts a buyer. Some buyers search for skill gaps they can fill to help growth soar and earn their return on investment. Your weaknesses, therefore, are growth opportunities for the right buyers. Sell them.

Document Everything 

Buyers will ask you hundreds of questions, and you’ll need to provide evidence when giving answers. In early acquisition discussions, it might be simple things like your startup’s domain, name, pitch deck, and financial metrics. You can choose who to reveal this information to when you sell your startup on a marketplace like MicroAcquire. Such data is easy to connect to your listing, but you’ll need a data room as talks progress.

What’s a data room? A virtual, permissions-based folder – a bit like a Google Drive folder – where you store everything pertinent to your acquisition. Rather than fiddle around with email attachments and cloud storage accounts, you create a single folder from where you selectively share data with buyers. You could wait to populate your data room until you’ve found a buyer, but I don’t recommend it for the following reasons.

First, buyers expect you to answer questions promptly and accurately. If you leave populating your data room to the last minute, you risk errors or delays that could put the buyer off. Also collating the information for your data room (P&L, contracts, licenses, HR records, your counsel’s digital minute book, and so on) is a trial run for due diligence. If you discover a problem, you can fix it before it becomes a deal-breaking issue later. 

Hire Outside Help

Following the guidelines above will help you get acquired. But if this is going to be your first acquisition, or if you expect to sell for several millions of dollars, you’re much safer hiring an acquisition professional to help you secure the best outcome. At the very least, you’ll need counsel to help draft or review legal documents such as letters of intent (LOIs), purchase agreements, and various clauses and conditions. Don’t attempt this yourself. 

Another helpful professional is a mergers and acquisitions (M&A) advisor. Think of an M&A advisor as your battle-hardened acquisition general. They’ll devise strategies that help you market your startup, find the right buyer, secure the maximum price, and negotiate the best deal structure. They also have a professional network of other advisors they can call upon to help with things like reducing your tax liability at the close.

Perhaps the biggest advantage of an M&A advisor is that they know the market. They know what startups like yours sell for and can help you set a realistic asking price. Usually, only the biggest acquisitions make headlines and most M&A activity is locked behind non-disclosure agreements (NDAs). Determining a fair asking price is extremely difficult unless, like an M&A advisor, you have intimate knowledge of the market. 

As you can see, positioning your startup for acquisition needs plenty of forethought. Leave it all until the last minute and you set yourself up for failure. If you want to eventually get acquired at the maximum possible price, start preparing for acquisition now. Learn what makes your startup attractive, exploit your strengths (and weaknesses), document everything, and hire an acquisition professional to see you over the finish line.

The post How to Position Your Startup for Acquisition appeared first on The Startup INC.

Studying, especially when we talk about higher education, is possibly the most common path people tend to follow, and there’s a reason for that. 

Although it does not equal success and stability in a lot of situations, higher education is often a good way to secure your future, since it pretty much prepares you to develop yourself and your professional career in a certain environment or industry, of course, as long as the education you receive does a good job at preparing you to perform in a professional environment.

The Struggles of Many Students

Sadly, no one can really tell whether the education you receive and the college or university you go for are the right choices, thus, that’s why a large percentage of the citizens of the world are actually reluctant to receive higher education, even more because of how expensive it can be.

For most people, choosing something that they are passionate about while also going for a career that is profitable in its own way, it’s absolutely essential since they are often sacrificing a lot of time, effort and money to graduate.

There are other students that decide to go further beyond and go for something that is known as a master’s degree, which is an academic degree that is bestowed to the people that complete a particular type of education that mainly focuses on a specific field of study inside of a profession or practice.

Among the many fields of studies one can go for, nowadays one of the most popular choices is business-related careers. And, of course, once you graduate or demonstrate enough proficiency, you can opt to apply for an MBA.

A Masters of Business Administration

A Masters of Business Administration, also commonly referred to as MBA as showcased at https://en.wikipedia.org/wiki/Master_of_Business_Administration, is a business-related graduate degree that focuses on two things: Business administration and investment management.

Among the many things that are learned in an MBA’s program, one can expect to learn different skills related to business administration, some of them which include things like:

• Accounting
• Human resources
• Business ethics
• Applied statistics
• Strategic management
• Business laws
• Finances and managerial economics
• Marketing
• Entrepreneurship
• Business communication
• Supply-chain management

A lot of MBA programs also include selective courses that can enhance the experience of a student in a specific area, to further polish their knowledge and skill in said area for the sake of fulfilling specific goals.

Their admission criteria might vary depending on the educational organization, but more often than not, it englobes a combination of several factors, from average grade points to things like academic transcripts, work experience, academic entrance exams results, letters of recommendation, personal interviews, and group discussions.

Education and Loans

The biggest problem a lot of students have is the fact that an MBA can be considerably expensive, which is the reason why a lot of students rely on loans to complete their education.

In fact, inside of the United States, a lot of the students that managed to graduate, actually did it thanks to receiving some sort of financial support, which often meant to hold a specific type of debt. According to this article showcasing 2021 statistics, 30% of college attendees were dealing with being in debt related to loans.

Other students solely relied on credit cards, while others relied on borrowing money from individuals or financial organizations. And apparently, all the borrowed money from all students inside of the United States during the first quarter of 2021, accumulated around $500 of the federal student loan debt.

This showcases a lot about the reality of the situation regarding students and higher education. However, it is still possible to take advantage of these loans as long as you plan yourself patiently and you assess your economic situation with a lot of care, while also choosing a loan plan that works for you and your specific situation.

Thankfully, there are many options available besides the ones provided by the federal state which can be, at times, more beneficial to students. However, as with many things in life, it can be a little difficult to choose one among the many options available in the market, thus patience and research are definitely necessary.

Ideally speaking, you should have some guidance if you know nothing about loans and don’t have a solid idea of what you can expect from them. For example, if you check this MBA student loan, you’ll get a very good example of how a loan that focuses on a Masters of Business Administration might look like, however, it is very possible, especially if you know nothing about loans, that you won’t really understand the information portrayed in the website.

Another important thing to do as well as to approach the financial organization providing the service, and ask as many as many questions as you can since this can save you a lot of headaches when either receiving advice and guidance from people you know or professionals.

The post Degree on MBA and Student Loan — A Simple Introduction appeared first on The Startup INC.

The most crucial thing in raising funding for your startup is the investment pitch. This is the only chance where you can explain in detail about your business idea to the investors and convenience them to invest in your startup.

It is like a make or break moment so you can not afford to make a mistake. Entrepreneurs new to the startup world don’t know what to take care of when pitching investors and end-up making some common mistakes. These mistakes can be avoided.

In this article, I will tell you about what are the common mistakes, their impact, and how to avoid them.

Here are 5 Mistakes to avoid when pitching Investors for funding

Unpreparedness

Going in unprepared shows your lack of seriousness towards your startup. If investors sense your unpreparedness they predict your traits as well. They don’t want to invest in a startup having business people lacking seriousness.

The minimum preparation you must do before pitching investors is to prepare a pitch deck, know your potential investors, have a plan and vision. Going in prepared will doubtlessly take care of when you begin conversing with investors.

Having a pitch deck will help you to channelize your presentation. It will hold potential investors’ attention long enough to explain what your product does and why it’s a good investment.

Be flexible with the pitch deck it needs to be updated and improved from time to time. This is a very minute thing but often entrepreneurs neglect it.

To improve your pitch deck you can refer to the pitch decks that are available online. An alternative for this is- you can review others’ pitch decks, ask your investor friends to help you prepare one, or learn from failed startups what they did wrong.

Align your presentation according to your potential investors this will show how important this deal is for you. Knowing your potential investors will ease your work to achieve it.

Also, doing research on investors gives the impression that you genuinely want to collaborate with them and will go to great lengths to make it happen.

Having a vision is a must. It tells about what are your business goals and how the money invested in your startup will help you to achieve those goals. Having a plan to achieve goals will outstand you.

A well-planned business comprises having ground-level research and a path to follow. Use a business model canvas in case you don’t know what components to include in ground-level research. It has the components that are needed to make a structured business plan.

Desperation

Don’t sound too desperate when pitching investors. Investors like to contribute and be associated with winning business ideas. Some entrepreneurs over behave in order to show their seriousness about the deal.

This is something you should consciously take care of as many investors find it unattractive. The other traits that can make you sound edgy are- only thinking about money, asking to sign an NDA, being too pushy.

What is wrong in only thinking about money, at last, you are seeking funding for your startup, ain’t you? Here is the catch- Investors are looking for an overall package to invest in.

Along with a potential business idea, they want viable people who can execute it and bring results to the table. In short, you have to sell yourself with your business plan. As investors and founders relationships go beyond ROI. It is important you focus on it and don’t think only about money.

A pitch deck is meant to be shared around the investors’ group. So, if you ask investors to sign non-disclosure agreements (NDA) then it will be a barrier in your way to connect with new investors.

And these new investors maybe your potential investors. Also, most investors have a policy to not sign NDA. On the off chance that you have something profoundly confidential, don’t share it.

The motivation behind a pitch deck is to develop interest between an investor and a startup—not to give a profound jump, which would typically occur during the diligence process. Add copyright notice in the pitch deck for your lawful protection.

Pushing your business idea or product extensively causes most investors to cut-off you immediately. Investors listen to your pitch because they must have found something in you and your startup. Be confident and make the fullest of the chance you get. Don’t ruin it by being pushy and desperate.

Exaggerated and unrealistic talk

To sound attractive entrepreneurs use buzzy words and claim unrealistic things. Many investors are in a game for a long time and they can easily understand if you overhype something.

The use of buzzy words will not necessarily articulate your business idea well. Be simple and most important, stick to the point.

Whenever mentioning any figures be factual and don’t make promises that you can’t live up to. If you fail to give what you promised then investors will lose faith in you.

Rember, stating figures doesn’t mean you have to present your startup’s financial spreadsheet. Investors want to see your startup’s scalability and how it will survive in changing conditions.

Know your business worth. Don’t project high business value; it gives the impression that you lack business acumen.

Tip: Avoid using acronyms and jargon in your pitch. Every investor is not well versed in your niche industry. Thus, they will lose their attention if you use acronyms and jargon in your pitch.

Not emphasizing key features

Feature(s) is like a treasure of your startup. It can be anything- a team’s experience, intellectual property, or anything less that makes you distinct from your competitors. Entrepreneurs neglect the importance of highlighting these key features and reduce their chances of getting funding.

Most investors believe a vital team is an important feature for the growth of a startup, especially at its early stage that incorporates a serial entrepreneur.

You have to specifically mention – what are their skill sets, what drives them, what is their experience, what temperament they have to grow the business.

Investors anticipate answers to such questions. Demonstrated the entirety of this, along with an energy to genuinely accomplish goals.

Intellectual property can act as a key to progress for many startups. I have seen this happen many times, mostly valid in the cases of early-stage startups.

Emphasize on intellectual property (patents, copyrights, patents pending, trade secrets, domain names, trademarks) your startup has and what measures you are taking to protect it.

Long Presentation and overlooking feedbacks

Try not to burn through your time making a long presentation or pitch deck. Most bustling investors don’t have the time to tune in to a protracted presentation.

An excess of data can bargain quality, so it is smarter to cut superfluous parts. A decent pitch ought to be short, fresh, and effective. A maximum of 20 minutes is enough time to articulate well.

You can prepare the presentation with a couple of slides that contain your business thought, the product outline, your marketing system, monetary projections, and how you will solve clients’ issues. You have to highlight how you will make an incentive for your business.

Many entrepreneurs overlook the feedback given by investors. One of the most underestimated advantages of engaging with investors is the feedback the individual gives the entrepreneurs.

Nonetheless, not many entrepreneurs take feedback in a valuable manner and follow up on it. Try not to go into a gathering with an investor trusting that you would settle the negotiation.

Go into one considering it a chance to have somebody to critique your business idea. It isn’t remarkable for entrepreneurs to be caught unaware of the inadequacies in their business model.

Feedbacks you get from investors frequently puts a focus on these issues you may have overlooked. Moreover, a ton of investors would view you well in the event that you take the feedback, join it into, and amend your idea. They are likely to reconnect with you when you do this.

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Success is what happens when you’ve survived all your mistakes; success doesn’t happen until you have stumbled and fallen, only to get back up again. Entrepreneurs make the same mistakes all the time but it has only made them stronger and smarter in the end.

Here are the 10 things entrepreneurs get wrong about the success

1. Experience Matters

There is no such thing as “too much” knowledge, the more experience and training you receive the smarter you’ve become.

There are plenty of young people, who want to get into the entrepreneurship business right away, yet it’s possible, they don’t have much business experience or knowledge to understand what it takes to lead a startup a day.

2. Taking Extreme Risks Too Soon

Most entrepreneurs tend to do this way too soon. Taking risks isn’t a bad thing, but it is definitely a gamble and can lead to many mistakes.

3. Not Networking

It’s 2020 for God’s sakes – If you’re not networking now, you probably should get on that. Networking may seem like a big waste of time, but you never know who you can meet or what you can learn if you don’t try. Think positive and who knows you may just stumble upon one of the greatest time investments ever!

4. Working Way Too Hard

This is a very common thing that every entrepreneur does and one of the golden rules of entrepreneurs. Working hard is great but don’t overwork yourself that you eventually get burnt out.

Make sure you get good sleep each night, make time for friends and family and make time for yourself. Keep a well-balanced lifestyle.

5. Stop, Sit and Listen

Stop doing all the talking and let others speak while you listen. Listening allows you to learn and be inspired by others. You never know what you can learn from your fellow friends, family and/or customers.

6. Never Asking For Help

Your ego won’t lower any more than you would think if you asked for help. Many entrepreneurs think they can handle and do everything on their own, and it could be possible but doesn’t do you any good in the long-term.

Not to mention, gives you additional stress to take on, why would you want that? Ask your fellow peers, friends or family to help you out once in a while; I’m sure they would be more than happy to do so.

7. Pick the Right People

Your business is your baby; we get it, so who is willing to continue to build that empire with you? Throughout your entrepreneur years, you’ve probably met and worked with some intelligent and hardworking colleagues; bring them with you.

Find colleagues who you trust and who are loyal. These are the kinds of people who will help you grow and who will be by your side until the end.

8. Not Getting a Mentor

You may think, why would I need a mentor, I can handle things on my own. However, a mentor is simply someone who you can look up to, who will show you the ropes and will be there through years of failure and frustration.

Mentors are great to have when starting a company, they can steer you in the right direction and give you solid advice before making stupid decisions.

9. Not Sleeping

We don’t think or function right without our beauty rest; our body actually needs a full night’s rest of sleep – 7 to 8 hours at least. Not sleeping will not get you any further if that’s what you’re thinking.

When we get a full night’s rest or sleep, we can think smarter and be more efficient throughout the entire day. Trust me – you’ll thank me later.

10. Not Self-Educating

Take advantage of the knowledge around you; read educational business books, read online articles, attend seminars and so much more. The world is your oyster; you can learn pretty much anything!

Author: Usman Raza is the co-founder of a Christian Social Media Agency and marketing strategist working with various brands online. Usman is the content marketing manager at Email Marketing Agency in Los Angeles, Convert Design to WordPress, and Nano Hearing Aids. He is devoted to helping small businesses bridge success gaps by providing in-depth, actionable advice on digital marketing, SEO, and small business growth.

The post 10 Things Entrepreneurs Get Wrong About Success appeared first on The Startup INC.