Can You Create A Start-Up On Your Own?
A project leader can ideally create a start-up on his own. Indeed, business creators need help to carry out their projects. However, if the majority of successful start-up projects are developed as a team, there are good reasons.
Creating It All Alone Is Rarely A Good Sign
When you create a start-up alone, you have to know to question the reasons for this solitude. The approach must be honest and without prejudice. The business creator who tried to mobilize people in his start-up project but who failed must wonder about the reasons for this failure. There are several possibilities:
- The professional network of the business creator needs to be more robust or more present. This must, therefore, be remedied before moving forward because a well-supported entrepreneur advances more calmly and enriches his project thanks to his interactions with other people.
- The business creator has a sufficient network, but no one is convinced. In this case, you have to gain perspective on the project, analyze the opinions received, and then make the necessary corrections or stop everything.
However, this is not an absolute truth. Some entrepreneurs have already created a start-up alone and have succeeded. Still, the cases are rare, and these entrepreneurs were quickly able to mobilize people in the project. A business creator must know how to surround himself to move forward. In addition, it is much easier to go through complicated periods as a team. Together, we are stronger!
By Creating A Start-Up Alone, The Entrepreneur Will Quickly Be Overwhelmed
Creating and managing a business involves carrying out multiple tasks in various fields: carrying out the activity, communication, accounting, legal, management, research and development, etc. The entrepreneur who decides to create his start-up alone will quickly find himself overwhelmed even if he manages to outsource specific tasks. Saturation will lead the project to failure or hinder its development.
In addition, a person who creates his start-up alone will then have much more difficulty agreeing to bring people into his project later. He will have to accept that it is no longer his project but a project now carried out by a team. In practice, this could be clearer and lead to disputes.
Creating A Start-Up Alone: A Lousy Signal For Investors
Another disadvantage, which is not the least, is that creating a start-up alone will send a wrong signal to investors. Carrying out fundraising is hardly possible because, for investors, the first quality of a start-up corresponds to its team. In fact, an investor bets above all on the team formed. Is the combination of skills between project participants intelligent? Does the team have all the qualities necessary to carry out the project? In a start-up project, a good team needs many skills. Several profiles are necessary; there are:
- Those who have ideas and who project themselves into the future
- Those who bring their skills to develop the product or service
- Those who can supervise the project as a whole, manage it, work on cohesion between participants, recruit and manage
- Those who know how to communicate and market the product or service
- Those who ensure the financial, legal, and fiscal monitoring of the project
A single person cannot bring together all these skills; investors know this very well. By creating a start-up alone, the entrepreneur will fail in certain areas. This is a significant negative point for the valuation of the company (necessary in the event of fundraising).
To Carry Out A Project, You Must First Form A Team
Almost all successful start-up projects are carried out by several participants who combine their skills. Before committing to a project, you must, therefore, build a team to give yourself the means to achieve your objectives. We discuss this subject here: building a team to launch a startup. Each member of the team formed will have a particular role in the management of the project, which will be assigned to them according to their know-how and experience.
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