Al Chalabi, author of The Top Ten Investments for the Next 10 Years, on what makes a successful start up

  If Al Chalabi, co-author of The Top Ten Investments for the Next 10 Years with Jim Mellon, had to pick one thing that makes a successful start-up, it is securing an anchor client. 

Whatever it is you sell, make sure you lock in an anchor client for a long-term contract.  This will do 5 things:

1) allow you to generate much needed cash-flow in the early stages;

2) increase the chances of securing additional clients due to this "showcase" client;

3) increase your company's value (because of point 1);

4) increase your company's chances of securing a loan or raising capital;

5) allow you to get valuable, objective feedback on your product/service from the anchor client so that you can make enhancements to the product/service - version 1.0 of anything is never perfect.

Al Chalabi is a business consultant, entrepreneur and author who has been based in Asia for eleven years and has extensive experience of developing economies. He assists corporations establish and grow their operations in Asia, particularly in emerging economies like China. He has a bachelor's degree in Aerospace Engineering and an MBA in Finance & Management. Originally from Iraq, Al grew up in the UK after his family moved there when he was a young child. Al has also lived in Canada, France and the United States and currently lives in Hong Kong.   

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