One of the most exciting and terrifying parts of the startup process is fundraising. But it may not always feel that way, and your business may not be ready for outside capital just yet. Based on his own experiences, experienced investor Hiruy Amanuel details ten red flags to look out for when it comes to funding troubles.
1. Target Audience Isn’t Growing
It can be hard to have a strong target audience before you’ve launched your product or service. …
Understanding how investors think and approach a business transaction will help startup founders and small businesses raise more capital. That’s why you’ll want to approach investor analysis just like you would approach customer targeting or product development — with insight on how to use it to your advantage. In this article, Hiruy Amanuel shares five key lessons every entrepreneur needs to understand when impressing potential investors.
1. Be Invested Yourself
One of the best ways to show investors you believe in your product or idea is by having invested in it with your own money. …
Any business stores and uses data, and one solution for data storage is a data lake. In this article, Hiruy Amanuel explains what a data lake is and what it can offer your business.
Data Lakes Explained
A data lake is a scalable, centralized storage solution for both structured and unstructured data. It serves as a place for businesses to store data as is. A data lake then employs a number of tools and techniques to process the data, provide analytics, and guide decision-making.
The Four Parts of a Data Lake
Data lakes consist of four main parts. Each part…
If you want to remain at the forefront of your industry, you must utilize the latest technologies in your day-to-day processes. Modern tech can streamline the development of products and facilitate better communication between team members, just to name a few benefits. Below, Managing Director of Gullít, Hiruy Amanuel shares several ways that your organization can leverage technology to optimize daily operations.
Simplify Mundane Tasks
Throughout the average workday, each employee likely engages in small, mundane tasks that take anywhere from a few seconds to a few minutes. …
Technology is constantly evolving. Anything that was made ten years ago has been improved upon or left behind by now. A product or program is often made smaller, more efficient, faster, more convenient, or gets entirely re-engineered for a new purpose through technological advancements. Businesses looking to keep pace with all these changes need to be aware of innovation as it happens, not after. According to Hiruy Amanuel, Managing Director of Gullít, these are three specific tech trends likely to impact your business in 2021.
Remote Onboarding and Remote Work
Working from home was one of the most significant tech…
Creating a startup can be difficult, and turning a profit can be even more difficult. However, there are a few tricks and methods entrepreneurs can use to help them along. In this article, Hiruy Amanuel gives entrepreneurs his 5 tips for increasing their startup revenue.
Get as Much Feedback as Possible
With any new venture or business, feedback is necessary. Often, entrepreneurs think they know what customers or the market wants, but this is not always true. Getting feedback from customers, potential customers, or members of your business’s community can help inform you. …
Whether you have just made your first successful pitch or are preparing to roll out Series A, you must keep your investors up to date on your growth. Your financial backers have entrusted you with their resources and expect regular and accurate updates on your project. Below, you will find Hiruy Amanuel’s list of 5 essential investor update tools that every entrepreneur ought to know.
If you are looking for a scalable, intuitive solution, Visible is a great place to start. Visible includes an easy-to-use editor, optimized reporting software, and real-time engagement opportunities.
Visible also includes immersive data…
Unfortunately, Hollywood has given artificial intelligence (AI) a bad name. When most people think of AI, they think of shiny, gun-toting cyborgs or faceless servers trying to bring down institutions and take over the world. But there is so much more to know about AI than what you see on TV.
That said, trust and trustworthiness are extremely important when creating and using AI. To achieve this, Hiruy Amanuel outlines 5 ways companies can ensure trustworthy AI.
One of the many issues people have with artificial intelligence is explainability. Understanding why an AI system made a decision can be…
In the early stages of your new venture, you may need to raise capital from investors. As you prepare to seek funding, you will likely encounter the phrases “seed funding round’’ and “Series A.” While both types of funding are considered stepping stones for your startup, understanding the difference between the two is essential. In the article below, Hiruy Amanuel explains the vital differences between these two types of funding and provides some tips for choosing the right one for your startup.
What Is a Seed Round?
The phrase “seed round” refers to a financing round designed to raise initial…
If you’re starting a new business venture, you will most likely need to pitch to investors at some point. This is a critical step in your process since, without investors, your company’s growth might be more limited. Below, Hiruy Amanuel outlines the most common pitch mistakes and how to avoid them so you can secure funding.
1. Being Unprepared
No matter how long you have been an entrepreneur or how much success you have achieved, you must practice your pitch. Sufficient practice will help you determine the proper tempo for your presentation and keep your audience engaged.
2. Relying Too…