Startups.co’s Wil Schroter: Stop Focusing on Getting Funding

May 5, 2016

1:06 pm

Being an entrepreneur is hard. Whether it be the long nights of analyzing statistics or the early morning meetings with clients, the road to startup success is a long and lonely one. At least, that’s what Wil Schroter talked about at the fireside chat hosted by Columbus Startup Week Powered by Chase. Fortunately, his company, Startups.co, hopes to make the trek to the top of the mountain a little easier. And it’s working.

Startups.co is a platform designed to help startups get off the ground. It guides entrepreneurs through the many stages of starting up by providing mentorship, advice and much more. While many founders are merely focused on the importance of getting funding, Schroter explains that there is a lot more to the puzzle than money.

“The problem isn’t raising money, its how to start a company at all,” said Schroter during the discussion. “Companies need mentorship, customer acquisition and eventually funding.”

The problem with most startups is that money becomes the main focus. Investments and funding are perpetually at the forefront of the fight for founders and employees alike, creating an unbalanced model for a business’ foundation. As Schroter talks about, the moment funding is provided, the vision of the company shifts from great idea to money-making endeavor.

The key is slow development. While it may seem difficult (or impossible) turning down larger sums for reasonable investments can be the better move. Slow, consistent growth allows a company to develop in a more natural way that facilitates success in a more prudent way. Letting passion take the wheel always yields positive results in the long run.

“The moment you take someone’s money, you’re on their plan, not yours.”

Before Startups.co, Schroter felt like startups were completely on their own in launching. There was no infrastructure to guide confused and naive founders through the arduous processes associated with starting a business. Mistake after mistake gets committed with no safety net to catch them before it’s too late. Many great ideas have likely been lost because startups are only now becoming a staple of the economy.

“We are currently in the stone age of startup launching practices,” said Schroter during the chat.

Many entrepreneurs look to find the niche that interests them and they use this passion to create a startup that makes a difference. As Schroter realized throughout his career, the niche that interested him was startups. He loved discussing market needs, plotting funding opportunities and talking shop with founders to get their ideas into the real world. His passion has created Startups.co, which can make startup creation easier for the future. And that means more good ideas will be on the way.

This article is part of a Startup Week content series brought to you by Chase for Business. Startup Week is celebration of entrepreneurs in cities around the globe. Chase for Business is everything a business needs in one place, from expert advice to valuable products and services. 

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Conor is a writer, comedian and world-renowned sweetheart. As the Assistant Editor and Writer at Tech.Co, he’s written about everything from Kickstarter campaigns and budding startups to tech titans and innovative technologies. His background in stand-up comedy made him the perfect person to host Startup Night at SXSW and the Funding Q&A at Innovate! and Celebrate, posing questions to notable tech minds from around the world. In his spare time, he thinks about how to properly pronounce the word "colloquially." Conor is the Assistant Editor and Writer at Tech.Co. You can email him at conor@tech.co.

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