image courtsey: Start-up stock photos.

Until I see your plan and it is very basic, I cannot invest too much in your startup.

Some startups tend to be too ambitious. They want to make big name at first strike.

Big brands are not made in a day. Rome was not built in a day.

And you cannot use money to fast track this. You cannot have a child in a month by impregnating 9 women. It takes time.

Most startups need only 10% of their estimated budgets to run. 90% is “paparazzi”. Money to be spent on unnecessary things to look big.

To invest in such startup, I won’t give all 10%, I know I am not the only contacted investor.

Most of these items could be gotten/acquired/borrowed/improvised if necessary. Some of them don’t even matter. They don’t affect the service/product of the startup in anyway.

This is not to discourage investors or demoralise startups, speaking from experience we need less than we think we need to kick off.

So go back to the drawing board and cut that budget, it may be the only reason you’ve not started.

Remember, there are 26 letters in the English alphabet, your budget can be like that too; Budget A, Budget B, Budget C…

All the best.”

Writer: Abdwahab Adekola (twitter: @wahabind)


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