Remember the Skype call I had with a VC? Had another one last Saturday and a few issues were brought up which I want to pen down here. One of which was regarding experiences. The VC asked whether anyone of our team had any experiences launching a product, and helped craft a successful go-to-market strategy. Well unfortunately, while we have been constantly talking to people, to our users, and to those that have been there and done that, the fact remains that my team and I are all first time entrepreneurs and have not been involved in launching a successful products. That kinda put us in a disadvantage.
Does that translate into: first time entrepreneurs have a smaller chance of getting funding or accepted into an incubation programme? So far, it seems that way. Of course, if you look from the investors point of view, they would want to put their funds into someone experience. This is perfectly fine. But what about first time entrepreneurs? Shouldnt there be other avenues for them so help increase their leverage for success? If these avenues are absent, how would first time entrepreneurs get the ‘experience’ needed and in the future, help another project launch their startup? Just some random thoughts.
On a separate note, had the opportunity to acquaint a friend and had a brief chat over lunch the other day and he shared something interesting about corporate culture. He said: “I want work in a corporate, because only corporates have the power to influence how things are done in a large scale.”