The three core resources that a start-up company needs: Capital, talent, user

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For startups, this is the best of times and the worst of times. It's much easier to create a company than it used to be. But because of the presence of so many start-ups, it is much harder for startups to survive than they were before. In this fiercely competitive era, the competition for resources is becoming fiercer, and it is difficult for start-up companies to find enough resources to support their own development.

To survive, startups need these three core resources:

1. Funds

2. Talent

3. The user

As the competition intensifies, the founders are increasingly discovering that attracting and aggregating these important resources is becoming extremely difficult.

Naval Ravikant is the founder of AngelList to help start-ups finance and recruit talent. Recently, AngelList has conducted a survey of entrepreneurs who have used their services: what resources are the most needed for startups and how hard it is to get those resources. Research results show that most startups are now in a "famine" state.

What are the most difficult resources for startups to acquire at the moment?

In the past, raising capital was the biggest demand. Today, recruiting talent is the biggest demand. Ravikant said he himself was a serial entrepreneur who had created Epinions, Vast.com and was currently operating Hitforge, Venture Hacks, including the AngelList.

After recruiting and financing, consultants are another big demand for start-ups. Then there is social media marketing, which is the demand for a large number of users. After that, the co-founder.

This is an interesting phenomenon, although the founders are in the middle and lower end of the list of requirements, but in fact, it also shows that startups are facing great difficulties in recruiting talent.

In the current bubble-wide environment, recruiting people becomes more difficult when you have to expand your founding team, Ravikant said. This is a strikingly similar scene in the history of the Internet. Founded in epinions,1998, there were 5 founders, mainly because in the circumstances, it would be difficult to recruit early employees if they were not given the "co-founder" Stakes.

The demand ranking of start-up companies

1. Talent

2. Fundraising

3. The consultant

4. Social Media Marketing

5. The Media

6. Co-founder

7. The Board

8. Sales Staff

9. pr

10 office, lawyer, accountant

Meet market demand is the key

However, not all startups are going through "famine" in a sign of talent. Ravikant points out that some of the best start-ups – with a fascination with "adapting to the market"-will naturally attract the top talent. Don't worry about financing too little because most companies do too. As long as your company's products meet market demand, you will naturally recruit employees.

Fundraising is the same. Money will also be closer to you because your product meets the needs of the market.

"In the past few months, financing has become more difficult, especially compared to the past few years," Ravikant said. "In the past few years, too many companies have been set up. And the number of startups that got VC a round did not rise. So, only those startups that really have market demand will be able to get the investment, while others are going to drown.

Millions of users

Seed-fund and Angel-investors are tired of net-cast investments, they prefer bag-style investments, and are keen to hunt for "little fish" that can grow into whales. So the key money goes to startups that can quickly get millions of of users and occupy the market.

If you are a start-up that has not been validated by the market, expect to raise 250,000 of dollars and treat everyone in the team as a co-founder. Then do not want to provide employees with a small cubicle and so on a better working environment and then to look for products that are suitable for the market, this is an unrealistic move.

"In the future, the number of startups will continue to increase, but there will be a low investment in the overall investment sector, as the amount of capital needed for start-ups is falling." "I think that future ventures will increasingly tend to invest these start-ups as their guinea pigs rather than as a business, until these startups gain market recognition," Ravikant said.

A few years ago, all you had to do was raise money and recruit people to succeed. Now the world of startups has evolved into a fixed script: Winners get trophies. (author/tim Devaney and Tom Stein compiled: Cholino)

Via:readwrite