Perhaps your dream is to own a lifestyle business where you’re the boss of your business and you make more than you would in a job- that’s it. Or perhaps you have a plan to develop a product that you can sell to Yahoo or Google for $10 million in 2 years. Or maybe you dare to dream big- a $100 million company that can compete with the big boys, and may need Venture Capital someday.
You must have heard about entrepreneurs who wrote a business plan on a proverbial napkin, got VC funding, built a product, and made a lot of money selling it (the company, and optionally the product too).
Well, the reality is that far too many first time entrepreneurs end up in the heart-breaking position of seeing their companies get “successfully” bought out, but only the investors make some money and the entrepreneurs lose out completely.
For a startup to have a fair chance of success (hint: why do the vast …