Chitra Ragavan

Advice for First-Time Founders

Whatโ€™s the Number One piece of advice that I give first-time founders?

Building a startup is a 24/7 job. So many CEOs and founders forget one very important habit.

๐Ÿ“šRead, Read, Read

A disciplined and systematic reading of newspapers, magazines, trade publications, and blogs can both provide competitive intelligence and act as an early warning system.

Competitive intelligence:
๐Ÿ“— Client & partnership opportunities
๐Ÿ“— Trends and ideas
๐Ÿ“— How your competitors are doing
๐Ÿ“— Potential investors, advisors & influencers

Early warning system:
๐Ÿ“• Legal and regulatory threats
๐Ÿ“• Adverse global climate for your product
๐Ÿ“• Challenges to your survival (like COVID-19)
๐Ÿ“• Negative trends for your business

Remember, it’s not just what you read. You have to read between the lines to find the real intelligence.

So when reading, add this filter: How does this piece of news affect my bottom line, my core value proposition, my product, my brand, and market position?

Bill Gates and Warren Buffet both credit hours of daily reading for their success.

Subscribe to a customizable aggregator such as Apple News to focus on topics important to your business and bottom line.

How do you stay on top of trends and news? ๐Ÿ“š