There’s this movie called Boys from Brazil wherein a group of former Nazis cloned Hitler. They simulated a lot of aspects in Hitler’s life into these clones like his family home, his childhood and his education so these precise external factors can shape the cloned Hitler into becoming the exact, same Der Fuhrer when he grows up.Why did we begin this entry about an extremely off topic regarding cloning Hitler? There are always all these golden rules or tips and suggestions on how to start-up, run, develop our companies. We have theories to adapt, avenues to avoid and experts to listen to.But truth to tell, no one rule applies to every business. What worked for McDonald’s before it became one of the biggest fast-food chain, may not work for your startup food truck. That is unless we’re intending to clone their success by simulating the exact same external factors McDonald’s had and follow it to the core.
1. Raising a lot of venture capital is the first step to a successful business.
Startup business founders have been bamboozled into believing that having a lot of cash when you begin is the way to success. Sometimes the proprietors or CEOs become obsessed with it to the point they focus their energy towards raising capital.