funding, fundraising, india, securityI have a startup idea and I want to get it up without quitting my current full-time job. Would the investors support it based on just the idea? I really don’t want to risk too much by quitting my current job. I am from India. What options do I have?
The short answer is: very unlikely.
Imagine being asked to put $X,000 of your own money into an idea instead of leaving the money in whatever is yielding a modest to good ROI. Would you trust a chap who isn’t willing to work on the idea full time to deliver a better ROI than that? Would you trust that chap to deliver it alone?
You’ll need early adopters, too. An investor won’t put money on the table unless you’re able to convince him you’ve a business case, and you won’t be able to bootstrap your business without them. So line them up first.
And consider finding a cofounder.
Please don’t take me wrong, but It’s not the Idea that counts but the execution that decides the success or failure!!!..
Everybody will have idea, but only few will dare to execute it and they will be the successful entrepreneurs.
The first quality of the entrepreneur is BELIEVE IN YOU and BELIEVE IN YOUR IDEA!!. If one doesn’t want to take the risk, that means he is not confident about his own idea/venture. Then why will someone else will take the risk?
Look around you. Flipkart, Amazon, IndiaMart, and many more.. All are eCommerce. An Idea. Then why one is popular and big and why other not? Execution, Planning.
There are now so many Bus Ticket Booking applications are there. Then why did the RedBus become so big? Again Execution.
Uber, OlaCabs, mGaadi, TaxiForSure, Meru - All these are Cab Aggregators. Then why Uber/OlaCabs is successful? Yes it is. Planning adn Execution!!!
So, one should make his firm mind to get into his Business Idea completely. Either 0 or 1. There is nothing in-between.
So the next question will be, How should I survive then? What will be the source of income? So there are many answers to it. If you are looking particularly about the investment, one thing that you can think of is, First convince the investor about your idea and say that you’ll take a small amount as the Salary in order to take care your life [Definitely it’ll be much lesser than your industry standard salary, because in-turn you’ll be holding the part/shares of your company/idea]. Most of the investors will understand this and they should be ok with it.
So, to answer your question - with your Full-Time working job, you won’t be left with much of time to work on your startup. That means your execution fails miserably, and chances of success will be less.
Kindly read some of these links if you want to know more:
Hope this helps you upto certain extent. Good luck for your Startup.
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