Today, there are many successful companies across the globe that range from Amazon to Samsung to Starbucks and Apple. The companies are re-known due to their large number of employees, huge revenues annually, and many assets under their management. However, what many people do not understand is that these big companies were once startups. A startup is a newly established company considered to be less than ten years old.
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Every individual can begin their own startup company nowadays. Many individuals are diverting to entrepreneurship to bring innovations into life to avoid being employees for other people, which is tedious and pressuring. However, most entrepreneurs have no idea that starting a startup company can be challenging. Based on research, more than 85% of startups fail due to a lack of proper planning and management globally.
As a startup investor, one of your primary activities is to provide capital and leadership. To raise the required finances, a startup investor can either seek help from angel investors or decide to use venture capitalism. Angel investors like David Azzato provide young entrepreneurs with financial support to ensure that they achieve their growth and success. On the other hand, investors can seek venture capitalists help who invest in them by acquiring funds from their pool of members. They obtain investment capital from wealthy investors, insurance companies, and pension funds.
Factors to consider when planning your startup company according to London based entrepreneur and angel investor David Azzato
Have the right team
Having the right staff is an essential part of your young business. They greatly determine the company’s success or failure as they are the team that executes the set policies. David Azzato recommends that you select a unit with the right skills and personalities that merge with the company’s needs for a better future.
Have a clear vision
When planning your startup, place your funds in an area that you are passionate about. The goods that you offer should touch on customer requirements that are also important to you. This will keep you motivated to keep on moving and eventually will make your startup successful in the future.
Conduct a thorough market research
Conducting thorough market research is considered to be the backbone of any startup company. It determines whether your products or services will have potential customers. Besides, it provides information regarding the number of competitors in the region. Too many comparable products make it difficult for the young organization to gain clients; hence it would not be advisable to set up your company in the area.
According to David Azzato, starting your own startup company, especially in London, UK, is one of the best methods of growing your wealth and starting a company of your dreams. However, it calls for patience and determination to achieve the required success.
Click on the link to learn more:https://www.crunchbase.com/person/david-azzato