The Startup Founder Perspective
A “billion-dollar idea” pops into your head. You start a business. You do it in your free time while you’re still working your day job. You tell yourself you’ll quit once you’re able to make enough money to support yourself. This approach to starting a business is completely natural and isn’t a bad idea. You’re able to test a market and see if you like running a business all while you’re still able to feed, clothe and house yourself and your family.
What’s the problem with starting a business this way? Nothing (more on this later)…Unless you’re taking money from an investor.
The Investor Perspective
Imagine you’re an investor. You give a company with the “billion-dollar idea” $50,000. Your expectation is that your investment, said “billion-dollar idea,” will return that money and hopefully [tons] more in the future. Would you want members of that company working on anything else?
The (More on This Later)
Returning to the founder. I stated that there is nothing wrong with keeping your day job, but I want to clarify my statement by saying that although there is nothing wrong it can be detrimental to success. The problem in this situation is that your attention will always be split between two (or more) equally important business priorities. You’re never giving 100% of your direct and indirect attention to one thing. As a result, both will never be as successful as they could be.
The UpTech Reality
So returning to the question at hand. Why do we ask for a full-time commitment from our founders? Focus. Focusing is difficult enough as a founder of a new business. We want your full attention on your business as an investment of ours.
Our level of investment in your startup ensures you and your team will be fully committed to the task at hand during our program. You will work 100% toward fine-tuning your business model and becoming an investable company. We know this results in happier founders and better business results.