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  • Eliana Salvi

5 Wrong & 5 True Facts Usually Heard in the Startup Environment


5 TRUE Facts:


1. "Nobody is going to invest in something you haven't invested yourself first with whatever you possess: full-time dedication and/or money"


2. "You need to test your idea and start generating revenues as soon as possible"


3. "Be open to change: change & adaptation to market is best thing that can happen in a startup phase, where you are allowed to make mistakes"


4. "Team is king: hire the right honest hard working individuals as soon as possible"


5. "Motivation in a startup cannot be driven by money or tangible rewards. If a team member is asking for just money in order to deliver his / her tasks, get rid of him / her as soon as possible". 



5 FALSE Facts:


1. "Solo founded startups cannot be funded"


2. "Your idea has to solve an existent problem" 


3. "You need to have a physical office to run your business"


4. "Due diligence period lasts at least 6 months time" 


5. "You need to have a perfectly functioning product built with the latest technology in order to get funded"


Do you agree and can you add more of true and false sentences (only if verified)? Thanks! 

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