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Cradle, our godfather…
Last 5 months ago, we got invited by Cradle Fund for the startup event called B-Linked with Cradle & Startups 2018 (sharing session & networking). I was a representative from Soding and willingly to share about our experience in validating our idea and receive pre-seed investment from Cradle. For your information, our idea has been rejected for the first time but we are able to secure the grant for the second time because our product is able to prove our USP, right target market and some tractions.
Based on my experience, building a startup is not an easy task. It does require perseverance for a long time. Many of us, especially millennials who are likely to take a leap of faith and jump over onto the battleship without proper planning because thinking that they could make fast money and freedom in terms of time. But the fact is that the reality is totally opposite. 90% of the startups will fail in the first year of the operation and they ended up became a part of this statistic.
There is no easy way to determine how good their tech talent is especially in programming skills. It’s like finding a needle in a haystack. Many software developers proclaim that they can code, but how good they are in programming? Only after they’ve hired, then we will know how their performance is. If the hired turn out to be a bad programmer, they gave us issues such as project delay nor technical debt which would cost us a sum of money. According to Tony Hsieh of Zappos, the real cost of hiring a bad software developer cost that company more than $100 million.