Is cashflow really the most important thing in a start-up?

We all know that start-ups need cashflow, but is it really the only thing that’s crucial to a start-up?

Over the last few weeks, I have been thinking about a couple of things which matter most to me and the success of Invigilo, coupled with a few questions that my friends have been asking me. What are the most important aspects of a start-up?

I have summarized my thoughts into the following article in 3 main points.

Vision

It’s necessary to have a common understanding of what the company intends to achieve. Falling in love with the problem is critical in this space. Many times, founders tend to stick to their initial ideas and stubbornly try to push these ideas into the market. However, it is about solving the problem that is more important, and this problem is what embodies the vision. The vision basically summarizes the key purpose of the existence of the start-up. The founders, and the early team members will always be thinking of the vision and that is what motivates them to continue working at their 100%. Without a strong vision, people start to lose track of their direction and reason to continue working passionately.

People

This is another important aspect that is needed for a start-up. People. What does people include? They are everyone around you, family, team, friends, mentors, and etc. Every time there is a problem at work, or I face emotional turmoil, the first thing I do is reach out to my family. My sister, mother and father are the 3 people I share most of the issues at work with. This is crucial as it helps release stress and also gives me a fresh perspective to look at things. This also helps in preventing any form of burnout or impostor syndrome that might arise as a result of the start-up journey.

The early team of the start-up is extremely critical. I myself am very glad to have found such amazing team members to share my journey and growth with. A team that is built on a shared vision, discipline and enthusiasm for growth is the best kind of team. A product can change anytime, but a solid team never does and can see through any kind of product that is needed.

The other important group of people is friends. Friends know you very well, and that helps in deciphering what kind of phase and emotions you might be going through. Friends also give the brain a sense of security and the amazing memories that you have gone through together serve as source of happiness.

Lastly mentors are important. There are three types of thoughts that go through in a person’s mind usually. Things that you know, things that you do not know, and things that you do not know that you do not know. Mentors help with the last one, where they offer guidance and insights to things that you might have never heard of before. As an early-stage founder, I have to embrace the need for humility when it comes to learning from mentors.

Patience

The last thing which I would like to mention is important, is patience. Good things take time, no matter what you might be talking about. Especially when it is something that you have never done ever before. Many decisions I have taken in my journey at Invigilo is a first for me. However, I need to have the patience to see it through and understand the results before which I can make some changes. Having the time to wait and see through everything you do is important, as many actions taken in the early start-up stage take time to materialize. A lot of times, in my journey I have taken decisions and actually had the need to sacrifice many other opportunities to see and identify the results. This skin in the game and patience is what helped me clearly understand aspects that I normally would not have done so.

In a nutshell, having a common belief that embodies itself into a strong vision helps to motivate and drive the people around you which then take time and sacrifice which materialize into the results that the start-up aims to obtain. Vision, People and Patience are the three aspects that are important, not just cashflow.

I hope that this article has helped you!

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