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> I am starting a startup (Give Me Advice)

SaberCortez
post Feb 10 2018, 04:50 AM, updated 2w ago

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Basic Detail:

I have a working prototype that has multiple users in 5 countries so hence there is already version 1. (Developed by me)

I am currently developing the whole thing with advanced feature etc.

I got one Angel Investor and One VC to listen and they have shown their interest in funding it.

I would like to know how do I make sure that the startup I make can reach to the ultimate level it should be.

So here is my questions:

How to make sure I don't go bankrupt?

How to make sure that I actually do well in my venture?

What advice do you have for me to be successful in what I am doing?

This post has been edited by SaberCortez: Feb 10 2018, 04:51 AM
lawrencesha
post Feb 10 2018, 06:23 AM

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If you need advise from a forum, then you should not even consider this at all. Keep your money in a bank. Disaster waiting to happen.
Spootid
post Feb 10 2018, 06:59 AM

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QUOTE(lawrencesha @ Feb 10 2018, 06:23 AM)
If you need advise from a forum, then you should not even consider this at all. Keep your money in a bank. Disaster waiting to happen.
*
Was about to say the same thing...
ListenToTheWind
post Feb 10 2018, 08:48 AM

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Generally, in order to make sure your business don't go bankrupt, all you need to do is to make sure your INs are greater than the OUTs, always make sure your income is greater than your expenses. Since you already got established your user base, I think it's not hard to maintain a positive income.
L_nette
post Feb 10 2018, 08:53 AM

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> Got angel investor
> Got vc
> Ask lowyat forum for advice


Wat.

This post has been edited by L_nette: Feb 10 2018, 08:53 AM
ah_suknat
post Feb 10 2018, 09:38 AM

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So let me get this straight...you got a working prototype and have investors wiling to throw money in, and your question is general like how to be successful in life....

Wat?


I suggest you watch "shark's tank" or "lion's den".

Therr you will learn how to deal with investors and see how some bad and some good start ups.
jianh
post Feb 10 2018, 02:30 PM

What custom title???
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If you have to resort to asking in a forum, keep the money in your bank.

Unless you plan on increasing the country’s poverty level: you being bankrupt.
fkmfkm
post Feb 10 2018, 02:38 PM

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QUOTE(jianh @ Feb 10 2018, 02:30 PM)
If you have to resort to asking in a forum, keep the money in your bank.

Unless you plan on increasing the country’s poverty level: you being bankrupt.
*
run away ppl's money ?
azhan82
post Feb 10 2018, 10:25 PM

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How to make sure I don't go bankrupt?
Make sure you have some savings in cash in bank

How to make sure that I actually do well in my venture?
No such thing. Success depends on how good you market your product and the price ie 5P analysis
Do a risk analysis..
or a simple SWOT analysis..

What advice do you have for me to be successful in what I am doing?
Make sure you have everything in black and white...
or else its just a waste of time...
10996455
post Feb 10 2018, 11:04 PM

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QUOTE(SaberCortez @ Feb 10 2018, 04:50 AM)
Basic Detail:

I have a working prototype that has multiple users in 5 countries so hence there is already version 1. (Developed by me)

I am currently developing the whole thing with advanced feature etc.

I got one Angel Investor and One VC to listen and they have shown their interest in funding it.

I would like to know how do I make sure that the startup I make can reach to the ultimate level it should be.

So here is my questions:

How to make sure I don't go bankrupt?

How to make sure that I actually do well in my venture?

What advice do you have for me to be successful in what I am doing?
*
U should give me 100rm for my advice. Go watch silicon valley series from 1 to 3 there u go after u watch all all our question u will have answer.
SaberCortez
post Feb 11 2018, 02:21 AM

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QUOTE(lawrencesha @ Feb 10 2018, 07:23 AM)
If you need advise from a forum, then you should not even consider this at all. Keep your money in a bank. Disaster waiting to happen.
*
QUOTE(Spootid @ Feb 10 2018, 07:59 AM)
Was about to say the same thing...
*
QUOTE(L_nette @ Feb 10 2018, 09:53 AM)
> Got angel investor
> Got vc
> Ask lowyat forum for advice
Wat.
*
QUOTE(jianh @ Feb 10 2018, 03:30 PM)
If you have to resort to asking in a forum, keep the money in your bank.

Unless you plan on increasing the country’s poverty level: you being bankrupt.
*
QUOTE(fkmfkm @ Feb 10 2018, 03:38 PM)
run away ppl's money ?
*
Just asking for advice cannot ka? Everybody have experience is doing something, I just ask for those people with experience to give me an advice on what I should not do, that's all. It's not like I am asking you all to give me money pun. Even if you work for 40 years there is always something new to learn from another person, Just because you have an investor does not mean you will be successful either. LOL, if you can't give any constructive than better just don't give any advice at all. No wonder our startup market failing like mad, when people start a business and fail they say they too young and rush on something etc. Then when people ask for advice, they say if you got investor already why ask for advice. Bodoh betul.

SaberCortez
post Feb 11 2018, 02:22 AM

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QUOTE(ah_suknat @ Feb 10 2018, 10:38 AM)
So let me get this straight...you got a working prototype and have investors wiling to throw money in, and your question is general like how to be successful in life....

Wat?
I suggest you watch "shark's tank" or "lion's den".

Therr you will learn how to deal with investors and see how some bad and some good start ups.
*
Noted, i actually watch that all the time. That was how I decided that I wanted to do this.
QUOTE(azhan82 @ Feb 10 2018, 11:25 PM)
How to make sure I don't go bankrupt?
Make sure you have some savings in cash in bank

How to make sure that I actually do well in my venture?
No such thing. Success depends on how good you market your product and the price ie 5P analysis
Do a risk analysis..
or a simple SWOT analysis..

What advice do you have for me to be successful in what I am doing?
Make sure you have everything in black and white...
or else its just a waste of time...
*
Noted sir! Thanks for you advice.


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