The three mistakes that startups make often follow Randi Zuckerberg - his sister Mark Zuckerberg
Shark Tank fans know that there are odd moments when entrepreneurs are hoping to persuade investors to do anything other than to pay for them, just as they do for homeowners. Investment knows that you are not aware of your product's potential risks.But there are still less obvious mistakes that can destroy the upward path of the business . That's a comment by Randi Zuckerberg - CEO of Zuckerberg Media and one of four investors of the new Oxygen documentary series - Quit Your Day Job.
In the first issue of the show aired on March 30, young entrepreneurs presented their business ideas with Zuckerberg and other successful entrepreneurs like Ido Leffler, Sarah Prevette and Lauren Maillian. The goal is that four investors must work together to decide whether to invest in the ideas given. Along with that, investors also give advice to startups as well as create challenges so they can prove their ideas are feasible.
Business Insider participated in a discussion with investors of Quit Your Day Job and later, the reporter interviewed Randi Zuckerberg, asking her to come up with common mistakes she saw in series 8 part of the program. Here is Randi Zuckerberg's answer.
1. They don't know anything about cheeks
Zuckerberg told the audience that many entrepreneurs came and said: " In this matter, I will try to work hard " but did not give any specific data. She added that although working culture makes a good impression, " numbers still have a stronger voice ." You will have to use exact numbers to tell investors " why you should choose " instead of many other competitors in the same industry.
2. They don't know how to talk about their achievements
In an interview with Business Insider, Randi Zuckerberg said this could be a problem, especially for women . Many male entrepreneurs "tell me how great they are" and that put women at a disadvantage. Zuckerberg says one of the best ways to praise and support yourself is by the people in the network you have made for you. For example, they can share news about your business on social networks and you do the same for them. That's probably easier than advertising yourself.
3. They choose the co-founder with the same skills
Many entrepreneurs who make mistakes are choosing co-founders with the same skills as them. This is probably because they know they will spend a lot of time with that person and want to like them. But what you should do is choose someone who owns other skills . As such, they can be complementary instead of overlapping. In addition, it also helps them "not step on each other's feet" and since then, there are more successful business opportunities.
Author: Shana Lebowitz
You should read it
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- The true story of a 'poor overcoming' CEO and 6 valuable lessons for those who want to start a business
- The failure of 19 startups in Asia in 2015 and the start-up lessons 'bloody'
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