A quick look at Chris Burch’s posts on his medium.com account leads a person to believe that they can likely learn something from him. In one of his most recent posts, he states that New York City is #2 in the business startup ecosystem. New York has a grossly inflated economy causing a start up to have an even harder time getting going. To this point, in this most recent article, he does differentiate between venture capitalists and angel investors.
Angel investors are affluent individuals who have some extra funds that they want to put to use by investing in a company looking for seed money. Venture capitalists, however, are much wealthier, and are normally able, and interested, in donating more money. New York City is a mecca for venture capitalists. In this article, he also discusses the venerated “7 Second Rule.” The thought is that you must capture someone’s attention in the first 7 seconds of a presentation. This rule is likely not more applicable than in the hotter-than-hot New York City market.
A few days before Mr. Burch posted this about the New York City startup climate, he posted about how to survive the heavily competitive market. In this piece, he does advise those looking to launch a startup to be prepared for stiff competition and that a trick to getting around this is to find those that have successfully gone before you in your space, and make friends with these crucial contacts. These people can be invaluable mentors and help your business thrive.
His advice is to always take every meeting, no matter how seemingly insignificant, quite seriously because the seeds of support for your venture may well be planted. He also reminds readers that starting up a company is crucially important in a neighborhood where it can thrive. New York is a very large city, riddled with delineations of eclectic neighborhoods that aren’t exactly clear to outsiders. Researching your location so as to create maximum opportunity for growth and exposure is best.
Finally, and this might be the most important piece of advice he offers, and that is to always make the final decisions for your startup. Mentor relationships, he says, are great, but they likely have a limit to their vision. An owner of a startup should always have a vision, hold clear to that vision, and accept guidance as it pertains to a particular facet of the company. More views on entrepreneur.com.
Connect with Burch at https://www.linkedin.com/in/christopher-burch-116531123