Applications for our new Kickstart Fund have started rolling in. Alongside our partner, venture capitalist Triple Point, Kickstart is investing up to £150,000 each in brilliant tech start-ups to boost the economy as we fight to bounce back from the Covid crisis.
But if you’re thinking of starting up a business, should you do it on your own or with a group of like-minded geniuses? There’s no right or wrong answer. Entrepreneurs are one-offs. You tend to think differently and have a braver attitude to risk and disrupting the status quo than the rest of us.
But there’s a few things to consider. First off, starting a business is probably the hardest thing you will ever do. It will involve massive amounts of stress, big decisions and a range of expertise you will almost certainly not have. Going it alone can be very lonely. On the other hand, having a group of founders can easily get messy, too. Unless you are careful about communication and delineation of roles, keeping the focus you will need will be difficult.
Most successful start-ups seem to be double acts — often with one person who understands high-growth tech and another who understands the market you’re serving.
If you (wisely) decide you need a partner to help, don’t worry if you don’t know anyone. There are plenty of start-up gatherings in London — just look online, for example at meetup.com.
But unless you don’t need the money, don’t jack in your day job yet. Get a prototype out for proof of concept, perhaps get some funding — that’s where Kickstart comes in — and then take the plunge.
To apply for the Spirit of London Kickstart Fund, go to standard.co.uk/kickstart
