I was so successful I killed my company. And, so, here are my entries on the list of challenges.
Tony recommends the following next steps:
- Adequate funding is a must. Not just startup, salaries, and rent. Advertising is a killer. Without it you die a slow death.
- Make sure you have an outlet for sales. I hired firms - but they didn't have the expertise. I hired industry trade reps - but because we were a low cost option, the incentive for the sales people was not enough. How are you going to sell your goods or services.
- Trying to do it all doesn't work. Two people I hired as sales people decided they would rather program, so they were no help on the sales side. Payroll was me and my money so I had to do that. Chamber of Commerce took up time and I was the face of the company so I had to be there.
- And, finally, as an addendum to the last note, be careful of the partners you choose. The killing blow for me was partnering with a group for a language product other than English. The began selling my product and I didn't have the money to take them to court.
- It was the best time of my life (not the end). Good luck.