First steps are vital for entrepreneurs

Some 97 per cent of a rocket’s fuel is used in the first three feet of its launch. The first few steps are equally vital for entrepreneurs but this is where most make their biggest mistakes and set themselves on the path to failure, the author notes in this interesting book about how to manage the first 90 days of your business.

Speed at takeover is everything because competition is fast, agile and better equipped than ever. The author recalls working on a consumer internet start-up in Silicon Valley. At launch, it had only one competitor, in 60 days it had 17 and by 90 days it had almost 100.

On a more positive note, he says that there has never been a better time to be an entrepreneur.

The modern day start-up can position themselves to meet customer needs better faster and cheaper. These new entrepreneurs are better motivated than at any time before.

Many have recovered from the global collapse of 2008 by adapting their business practices to the economic conditions and by leveraging all available resources. Today, rising companies run leaner, stronger, and more efficiently and generate greater profits.

There are practical tips here on fundraising, overcoming fears, marketing on a tight budget, and recruiting the right staff to launch your business.