Lessons First Time Entrepreneurs Need to Know with Safa Rashtchy: Investor, Advisor, and Trend Spotter
Lessons First Time Entrepreneurs Need to Know with Safa Rashtchy: Investor, Advisor, and Trend Spotter stories
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Safa Rashtchy is an active angel investor in Silicon Valley. He is a trend spotter who predicted trends in the consumer sector. His blog is at www.thinkplus.vc

Lessons First Time Entrepreneurs Need to Know with Safa Rashtchy: Investor, Advisor, and Trend Spotter

If you're just starting out, find a REAL pain point

Find a problem that you are passionate about and is a true pain point. There are many big problems around us. I often see smart people tackling the wrong problem.

Early stage companies often underestimate funding needed

Plan accordingly to know that you have sufficient funds. You have to have sufficient funding and good funding planning and you need to know when to raise the next round before it's too late.

Many companies overlook the costs or raise money too late

When it's too late, the companies have struggle closing a round fast enough to keep the company alive.

First time founders fall for an illusion of growth

Companies get cocky once they get a number of users or app downloads and mistake it for sustainable growth. App downloads don't mean engagement nor does it mean sustainable organic user growth

Founders sometimes rush in & get distracted from the mission

The companies that succeed are the ones that have a coherent mission statement and can step back and ask "Are we on track or not?"

For consumer startups, engagement is key

If they aren't engaging, ask why. Why are they only spending a few minute with us? There is a pattern for growth.

Initially, go for exposure.

Get some users, seed the initial group. You need this group to see if the product is working

Then step back and focus on engagement.

Once you have some users, engagement is the important factor. Increase engagement. Don't rush monetization and when you do monetize, don't destroy the core value proposition

Startups are hard.

You need to be smart. You need to be able to overcome any hurdle. It's a journey that requires stamina. If you are on it, I wish you the best of luck!

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