Do not worry about scratch for the venture capital is available
"Scratch" it seems unlikely that many people do have things its feasibility, we can cite many examples of existing large companies, the following is not bragging talk about art, and it is starting from scratch, self-made Art:
1. Focus on cash flow rather than profitability (Focusoncashflow, notprofitability). In theory, profit is the key to survival. The problem is that theory can not be used to pay the bill. In reality, you are using cash to pay the bills, so please focus on cash flow. If you are starting from scratch, then your business should have these characteristics: the necessary funds should be less Sell Shorter period, payment period is shorter, and can be repeated to increase the income (recurringrevenue). This means that you have to give those who need 12 months to complete the order, delivery and billing of large single. Cash for the self-made man, it means everything.
2. From bottom to top forecasts (Forecastfromthebottomup). Many entrepreneurs the opportunity to top-down forecast: "The U.S. has 100 million 5 10 million Car . Even in the first year only 1% of the car installed our satellite radio system, which is 1.5 million sets of the system. "The bottom-up forecast is this:" In the first year, we can set up 10 installation point. Per day for each installation point to install 10 sets of systems, then the first year of sales points will be installed in 10 × 10 sets / day / installation point × 240 days = 24,000 units. "24000 and the top-down estimate of 1.5 million is still far from conservative. Which one do you think is more likely to be realized?
3. The first delivery, and then test (Ship, thentest). I have heard the voice of criticism was: "how can you recommend to send the goods are not perfect it?" And so on and so on. "Perfect" (perfect) is "good enough" (goodenough) enemy. When your product or service good enough and as soon as possible to submit them to the customers to get cash flow. Also, spend more time and can not guarantee perfection, would only generate more unwanted features. After delivery, you can understand what our customers need you to really solve the problem. Of course, this requires your credit and cash flow to make a compromise: You certainly can not send a bunch of garbage to the client, but we can not wait for your products become perfect. NOTE: Those with life sciences companies, please ignore this piece of advice.
4. Forget the so-called "compelling" team (Forgetthe "proven" team). Convincing the team asking for too much?? Particular, most of this is defined as a group during the past decade for the super-large companies working people. These people, accustomed to a particular lifestyle, but by no means self-made way of life. Hire the young, cheap, eager to work, those who fast chips, but not necessarily a comprehensive experience. When you realize a substantial cash flow, the re-employment of those who experienced Management Persons. Until then, please use the ones you can afford one, and put them to develop into outstanding employees.
5. From the service to start. If your idea is to eventually set up a software company, let people spend money to buy your software. This is a very clear business and a sound business model. However, before the completion of your software, you can also provide medium-term product based on your consulting services. This has two advantages: immediate revenue and real customers to test. Once your software has withstood various tests and trials, you can type the company into a product.
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