“Wisdom is not a product of schooling but of the lifelong attempt to acquire it.”
― Albert Einstein
While for the short-term success in entrepreneurship, good intuition and hard work may be enough, landing on the moon is only secured by wit and wisdom. It shall indeed come in years but knowledge is essential at any step of this skyrocket aimed journey. And basically, the accumulation of such erudition is what makes you experts in what you do.
“Only a fool learns from his own mistakes. The wise man learns from the mistakes of others.”
― Otto von Bismarck
Of course, you are free to choose to learn by experience, but even if you won’t be considered what Bismarck would maybe call you if you chose to learn only by experience, you will definitely waste the most precious resources: time, energy, and money. Moreover, if there is knowledge and best practices to guide you, why not take advantage of them?
The truth is Startup Studio wisdom comes from experience and you can’t have that experience if you are just setting up a Studio. The logic behind the Startup Studio model itself is already hinting at the platform of proven expertise. So the foundation of the model is the intelligence that would be gained by various sources such as track record (failures and successes), either by merging well-rounded processes with a good team and eventually by replicating already registered experience.
However, to launch and run a studio one needs to start from the basics. And what are the basics? Oh well, the list can be endless, but basics, right? So we need to understand:
- What is a Startup Studio; do we want to pursue the model?
- Which is our benchmark? How do we set our business goals?
- Who are our partners and investors? What is the equity split?
- How do we explain the model to the investors?
- What would be the funding structure and why; are we going to have a Fund?
- How do we set up the team, what would be the terms with founders?
One option is that you can go around and ask these questions to peers, to a few industry experts, read articles and research papers which are rare. Do you think you can find all of these answers in one place? The answer is, absolutely YES!
StudioHub is a platform for sharing the best expertise and success cases among its community members offering diverse approaches to involve investment, talent, and ideas. But moreover, it’s a place where you can get answers to all the questions which will help you properly set up your Studio which shall run in the way so it later accelerates for flying to space.
How? We provide written guidance and recommendations, templates for term sheets to use for preparing yours, and filtered networking to those who can share with you valuable insights and last but not least outstanding examples and metrics for benchmarking.
And again, knowing these answers earlier than later will save you time, money, and other resources.
To conclude with the words of a modern pop song – “I get my light right from the source, yeah…”. Get THE knowledge from THE source – the Largest network of Startup Studios and Venture builders worldwide.
ABOUT THE AUTHOR
Manush is currently the Executive Partner at StudioHub. Prior to this, she has been working in the top management in the Corporate and earlier in the Public sectors with 10+ years of engagement within the Startup ecosystem as an entrepreneur, mentor and consultant. “Life more than anything amazes me and I aspire to animate everything around!” M.