Entrepreneurs with small ideas can also build great companies, your business can grow organically, with revenue and profits by selling to customers as early as possible from the idea incubation.
"Your most unhappy customers are your greatest source of learning." --Bill Gates
Business incubation involves the nurturing and mentoring of new businesses, often referred to as startups or entrepreneurs, to help them succeed in their respective industries. Incubators provide various forms of support, including physical workspace, access to networks, mentorship, training, and sometimes funding.
Objectives:
The primary objective of business incubation is to accelerate the growth and success of startups by providing them with the necessary resources, expertise, and support systems. This helps reduce the barriers to entry and increases the likelihood of survival and sustainability for new businesses.
What incubation stage are you? Are you Chasing customers? or are you Chasing Investors?
Consider these Equations:
Customers = Validation, Revenue, Profits, Valuation, Funding
Investors = Distraction from chasing customers, outside capital
A good strategy:
Business = Customers (Revenues + Profits).
In this equation, outside financing is Optional.
There are several entrepreneurs who built great companies using this strategy.
Sridhar Vembu, CEO of Zoho built a $200milliion a year revenue starting this way.
Examples of established companies also using this strategy:
As an entrepreneur with a proven business model and execution capacity you will have no capital gap
It may take time, sweat and tears, but like every dream you live, it comes with invaluable benefits including personal and business growth.
It may take time, sweat and tears, but like every dream you live, it comes with invaluable benefits including personal and business growth.
I Wish You Great Success