Solve the business equation first

ByAdemola Morebise

Solve the business equation first

When I was starting to take my work at Gistcaster serious enough and thinking of raising some money so that I could turn it into a ‘real’ startup, I started reading about how to pitch investors and close funding rounds.

Then one day, I stumbled upon an article by Greg Gianforte on bootstrapping a business. Inside the article, these words called out to me: “most people think what they need is money when they have not even solved the business equation”

I found those words to ring true.

You meet people who tell you they have these startup ideas and how it will change the world and all that, but beyond their words, there is no substance. Just empty words.

They are yet to actually develop a serious business framework that will work. A business without well defined business models and revenue streams is not a business, it is a busyness!

Money is not a silver bullet that will solve every problem. Money will not do for you what proper market research and analysis should do for you.

So, maybe you don’t need the money as badly as you are thinking. Solve your business equation first.

About the author

Ademola Morebise administrator

Ademola Morebise is an Inventor by Night, Business consultant by Day and a Teacher in between. He writes the #TMP daily devotionals for upwardly mobile professionals.