How Can I Bring A Startup To Success When Money Is Very Tight?
I’ve dealt with this before, and, believe it or not, you may have answered your own question. It’s painful to take a job that you don’t enjoy, but sometimes it’s necessary to pay the bills while you build something you can be proud of. However, you can find a way to do this part-time.
If you’re working 40–60 hours /week, it’s super hard to find the necessary time and energy to work on your business. But if you can cut it down to 10–20, then you may be able to really ramp it up and stay in the black! Here are the top things I recommend looking for in the job that you take:
- It helps you learn more about your startup industry.
- It builds connections for your startup.
- You feel rewarded and appreciated.
Depending on your industry, you can often become a consultant and work as an independent contractor. Often times, consultants are paid more money for less time, and it will help establish you as an expert in the field.
Another great way to accomplish this preparation is to work for a competitor. Learn what they’re doing right and wrong. You can make money while building a better business!
It sounds like you may already have a bank loan, but, depending on your runway (how much money you have in the bank), you may be able to skip this step: If you can finalize a proof of concept for your business, investors will throw themselves at you. Make a small number of customers happy and show how you can scale the operation. Make it easy for an investor to see his return.
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