Launching a Business, with Gabriela Hersham

To celebrate International Women’s Day 2020, I wanted to share inspiration and advice on how to move ourselves forward professionally. The first person that sprang to my mind was one of my oldest friends Gabriela. I hope after reading this, you will understand why I wanted to co-write this March feature; whilst asking her to share her experiences of building a company from scratch. Offering her invaluable tips, for launching your own business.

Motherhood, I have found, can be the catalyst for a career-change, it certainly was for me. The reasons for this are incredibly varied for all, but through starting Mimi’s Bowl I have connected with so many mums and parents who were starting new ventures, in both familiar and unfamiliar industries. This is a post which might feel of particular relevance, if you are considering a career change, or launching your own business.

Miriam x

to celebrate International women’s day

Gabriela’s top tips on launching your own business

Huckletree Manchester, serving Manchester’s talent and entrepreneurial spirit

Product Market Fit

Your absolute first goal is product-market fit. Do whatever you have to do to get a product out there at a price that both makes sense for your unit economics and ensures that there is adequate demand. Be certain you have a viable business model and that you are solving a real problem. There are many good ideas out there which unfortunately will not see the light of day, either because the unit economics don’t stack up, or because the product isn’t scalable, or simply because the demand wasn’t there to begin with.

2. watch spending

Spend early money wisely. However you are finding the pre-revenue days of your business, make sure you’re allocating your cash strategically. There’s no magic formula here, but every penny counts. Don’t be spending crazy amounts on logo design

3. you are only as good as your team

Set the bar high with your first hires and remember that your first hires are critical to the culture of the business you are building. It is cheesy, but I’m a big believer in only hiring people smarter than yourself. Spend money on people, rather than that logo design.

4. Respond to feedback & be open to it

Get a lot of feedback on your early product, and get it quickly. Beta version or prototype ready to go… Great! Be resourceful in getting as much blunt feedback as possible - and be open to genuinely listening to what your audience is trying to say.

5. when to look for investment?

If possible, be revenue-generative before seeking external investment. This will help you not have to give half the company away in your very first funding round.

6. your message and vision

Remember, that you are the architect. As the company’s founder or CEO, your mission is to be articulate enough about your vision: this is crucial to attracting the best possible people to your business (and keeping them there).

If you’re doing this right, you’re basically won.

more on Gabriela ~

For more about Huckletree the only workspace business to curate its companies, bringing synergistic value to all. Their team of experts deliver tangible value for members

For more about Gabriela and life as a CEO and mum of two boys: read more here.

links ~

Women In Tech, the Evening Standard & Trailblazing Women, Huffington Post

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