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OVERCOMING CHALLENGES WHEN LAUNCHING A STARTUP

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(1) Identifying a true gap The first challenge in developing an entrepreneurial journalism startup is to identify a gap between what already exists and what people need. It’s easy to think about something you’d like to create. What’s harder —and more important— is to try to stand in the shoes of those you aim to serve. What are the challenges they face in their daily lives? What do they already read/watch/listen to? How do they access information? What do they enjoy most about the media they consume, and what do they find frustrating? What are the things they need to know about in order to make the most of each day?  When you understand your target community, you will spot gaps in the market. You might realize that in a community full of Spanish-speakers, people have to rely on English-language reports for news about local schools. Or that coverage of cancer research isn’t readily accessible to readers who get their news from social media platforms on their daily commute. Or that t...
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Sourcing Seed Capital For Startups

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           Seed capital or seed money helps in setting the trajectory of a business. In most cases, it decides the fate of the startup as a lot of companies fail to take the first step due to the lack of seed capital. For startups, it is also quite difficult to get funding because investors generally prefer companies that have a track record. But, startups need seed funding in one form or the other and without it, the chances of their survival are grim. Startup seed funding is required for early market research, product development, legal costs, operating expenses, etc. All of these investments are essential for the functioning of a startup. The funds are also used to pay the salaries of the team. Identifying Seed Investors There are several sources of seed funding but only approaching the right ones can bring the ideal results. It is important to first know how to pick an investor. Do they have any expertise in the field? It is usually a better...
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