Here at ROTU we’ve gotten to experience first-hand what it takes to persevere as a startup. ROTU began as company putting on breathtaking live shows, and now we’ve reinvented ourselves as an entertainment studio building VR experiences leveraging the power of music. So, here are some humble tips we’d like to share:
Don’t stress out too much about your bank account - It often takes a dollar to earn a dollar, and you’re going to encounter some expenses to get things off the ground. While it’s okay to be thrifty and careful with your budget, doing so excessively is likely to be more of a hinderance than an advantage. Many startups that actually succeed worry less about how much money they’re making and spending, and focus more on the value they’re adding to their customers and industry.
That being said, a penniless startup isn’t a happy startup - No mentality should be taken to the extreme, and if you and your employees can’t afford a roof over your heads and food your tables, that’s more of a recipe for disaster than anything else. If funds are being spent carelessly, someone is doing their job incompetently. If funding hasn’t been secured to realistically hire full-time employees then there’s no shame in starting out with a part-time team.
Look after your health - Keep in mind that starting a business is a marathon, not a sprint. While having a fire in your belly and hustling hard is admirable, if you do it to the detriment of your diet, sleeping habits, or stress levels, you could easily burn out and find yourself incapable of making your dreams into a reality. There’s no reason to recklessly risk your career; work hard, but work smart.