Most start-ups fail because of poor financial planning and management. “If you fail to plan you should plan to fail.”
Every entrepreneurial venture varies, as do the strategies that make them successful but there is a common trait that exists – limited capital. The scarcity of capital is what makes great entrepreneurs creative enough to think outside the box.
The story of one of our ‘serial entrepreneurs’ and your go-to advisor:
For my very first venture, a Pool Parlour in India, I needed almost $100k in investment but could only get $50k from my parents. My father wanted me to raise the remaining funds from my friends or borrow from the bank. His reason was to help me understand how to develop a business plan, and the importance of obtaining capital early on. Of course, I was also to learn to shoulder responsibility.