The prize for successfully starting a business can be exceptional, and tremendously rewarding – yet 75% of startups fail within the first year, as a result of failing to think their finance requirements through. So what is the secret to raising the capital required for businesses to make it past the hazardous early stages?
Andrew Harries, co-founder of Sierra Wireless, a NASDAQ-listed wireless devices and applications vendor, and a member of the Dean’s External Advisory Board at the Beedie School of Business, continued the SFU President’s Dream Colloquium on Entrepreneurship by offering advice designed to boost the chances of success for entrepreneurs in today’s competitive markets.
With vast experience in raising capital for startups – he estimates that he has raised over $150 million through early stage investment over his career – Harries advises entrepreneurs to ask themselves three questions before even thinking about going into business: how good is my idea; am I ready to do what it takes to launch this business; and what can I do to avoid failure? Keep reading…
Tags: Andrew Harries, angel investor, Beedie School of Business, capital, early-stage financing, entrepreneurship, investment, President’s Dream Colloquium, Segway, sfu, Simon Fraser University, startup