BANZA February 2016 Issue | Page 63

BANZA The team “If you want to go fast, go alone. If you want to go far, go together”. Reading such a quote encourages you to create a team. It is a given that trying to do everything by yourself is an unnecessary burden. The “one man show” businesses fail more than often. However, the problem with the quote is that it doesn’t tell the full story. It should say: If you want never to move at all, go with a bad team. The easiest way to fail a promising business is surro unding yourself with unproductive teammates. You would like to go right; they will take you left. Before partnering with someone or hiring him, give him a task. Don’t rely on interviews or empty promises. If he performs the task well, only then you can start considering whether he joins or not. The capital “To make an entrepreneurial venture: Firstly you need a great idea, a team and some funding/ capital.” A business without a capital is not a business, yet. The lack of capital will hold your grip and twist it painfully. Leading your team without funding wastes your energy. At the end of the day, someone with more resources might easily start a similar venture to yours. How would you deal with that? Nowadays, with the grants and investors’ money at your disposal, all you need to do is to plan for getting them. You can still start with a limited budget. But, if you don’t plan to get funding, you will never get it. Even if you start with no penny, always have the capital acquisition in your mind. |Business