Anyone that wants to found a tech startup in New York will find the fast-paced lifestyle a challenge to deal with. New York City is the Largest metropolitan area in the United States, with a diverse culture and energy that runs around the clock 24/7.
If you choose New York City as your founding location, here are five tips to help you through the infancy stage of your business in the world’s most famous city.
#1 The Challenges of New York City for Start-ups
Tech startup founders were asked in a survey about their most significant challenge they faced during the initial phase of founding their business. The resounding answer was rent. Many founders quit their current employment to work as hard as possible on their new project. This loss of earnings leads to a gap in income, and some find that they are unable to pay the rent when their launch takes longer than expected.
It may be wise to keep your day job while you work on your new project in your spare time. Give yourself more free time to work on your startup by delegating chores and other daily responsibilities to service agents such as King of maids in NYC.
No-one said founding a business was going to be easy and the extra hours will push you to your limit. However, if your vision is true and you are committed to your new business, you will find a way to make both work.
#2 Build Your Social and Professional Network
While this may all sound like a lot of work, the good news is that NYC has an active community of tech people that are friendly and supportive. There are plenty of chat rooms and local resources you can use to connect yourself to a community that provides you with the support you need to get through the startup phase. This is particularly true if you are a tech startup.
#3 The Benefits of a Co-Founder
Starting up in New York City runs a lot smoother if you have a co-founder on board to help you through the emotional stress of founding the business. A good co-founder should share your vision and drive for the company and want to see it succeed as badly as you do.
#4 Take the Criticism but Keep the Vision in Mind
Receiving regular feedback from your employees and investors is essential for making the right decisions on your startup strategy. However; sometimes it’s important to remember that not all criticism of your business model may be valid. If the criticism you are receiving does not address the problems you are working on, then pay it no mind.
#5 Take Massive Action
If we were to give you just one tip for founding a startup in New York City, it would be; Take massive action at every moment of the day. Only by taking action will you get the work done and stay focused on achieving your goals. Taking massive action puts you in the places you need to be with the right people you need to meet. If things start turning for the worse, take even more action in the face of adversity, and your persistence will eventually pay off.
To many entrepreneurs give up on their dreams way too early. New York City is not for sissies, and if you don’t have the drive and energy to chase your dreams with everything you have, then it might not be the city for you.