STARTUP ADVICE | How you can start your Startup when you have no finances


African change makers sometimes find themselves in a compromising situation where they have interesting ideas to execute but unfortunately their deep pockets have a good number of holes drilled. It is not new that so many potential entrepreneurs have failed to take up the first and most crucial step of having their vibrant ideas happen. As much as it is essential to take the ‘founders risk’ of putting both feet in the ideas they believe in, you need more direction other than the finances. Here are some of the most important hacks that would help you build a self sustaining startup.

Find someone with the Vision/Idea

This is the person who has the most perfect picture of what the solution you are trying to work on is. Initially, it is the first primary founder but eventually it can be anyone else who has the same motivation.

Provided they can map out the entire startup tree- from its roots to its fruits and believe in the value the startup is meant to give.

Find someone with the Money

This is neither the Venture Capitalist nor Angels who finance startups. It is the one who pays for the fare when you are going to meet up with the VC’s and other Investors – or the one to fund the promotion of a Facebook Ad or pay for the purchase of the web domain and hosting or app development.

Find someone with the Skills and Expertise

A technical partner is really important for a startup, they are the ones who have done something before or at least they know what it takes to do it at the moment. They know the what-is-what and the ‘how its done’ depending on what your idea is about. It may involve multiple aspects.

Someone with the Connection

These people know the waters you are exploring. They know the ‘who-is-who’ and the ‘where to go’

While all of this can be one person, the good news about starting a startup is you do not actually have to do it alone. Think about these things and determine which one of them best describes you and if you cannot satisfy all, you will need partners

Measuring what you Need

Rate yourself on a scale of 1-5 for each of the hacks above and then think about people who would fit well into the others. Since we have a financial concern, we do not need a prophet or a wizard to tell us to find a financing partner. Once you find one, use the same scaling method to see where else they fit. It is possible you need more people now and you can determine that using the same model.

Choosing a Financing Partner

If there were a simple answer to this, it would have been popular knowledge by now and I would not have to repeat it. Many founders prefer to choose partners from friends who they have known in other conditions and they exist with mutual respect. By now you probably have met enough people to choose from but if not, you will need to find people who meet the second important condition – Believing in the long term benefit of sticking to the vision.