MacDirectory magazine is the premiere creative lifestyle magazine for Apple enthusiasts featuring interviews, in-depth tech reviews, Apple news, insights, latest Apple patents, apps, market analysis, entertainment and more.
Issue link: https://digital.macdirectory.com/i/1190434
area but one – the one that count s if you're ready to go public … valuation. Their IPO pitch was so creative Netflix and Amazon are both bidding on the film rights. O.K., they really aren't, but seriously! Sure, we understand it's more fun burning through strangers' money. The idea of maxing out your credit cards or asking friends/ family to loan you money so you can develop, refine, profitably sell this thing that solves a real market problem isn't fun, isn't easy. But the folks who do it right and build a profitable company, have a steady interest and laser focus on creativity, innovation. In fact, many who look back on their organization's organic growth, rather than relying on pure money to pave the way, seem to appreciate their firm more. It has become a badge of honor. According to CB Insights, key factors for success are: - Founders are driven by impact, resulting in passion and commitment - A commitment to stay the course and stick with a chosen path - A willingness to adjust, but not constantly adjusting - Patience and persistence due to the timing mismatch of expectations and reality - A willingness to observe, listen and learn - Development of the right mentoring relationships - Leader has general and domain-specific business knowledge - Implementing "Lean Startup" principles: Raising just enough money in a funding round to hit the next set of key milestones - Balancing technical and business knowledge, with necessary technical expertise in product development Jon Oringer, founder of Shutterstock, is quoted as saying, "When I get asked, 'When is the right time to take on VC funding?' my answer — 'In a lot of cases, never." He built the company slowly and with his own money until the company needed to take the next growth step with a