Your idea, that can be explained simply, should be able to solve some real problems of enough number of people, which can translate into a business and make profit
A team, ideally made up of people who know each other and who can stick together on a bad hair day. If you don’t have a team, you can still come to us. We can help you put a team together.
You should have completed your studies. If you have taken your final exams and are waiting for the results, that’s okay. But if you are still studying, we would encourage you to complete your course, so that there is no clash between your studies and your idea.
Some famous people have dropped out of school to start a business and should you try to take that route, we will understand, although you need to remember that dropping out of school does not automatically make you successful in business, no matter how romantic it may sound.
Ideally, you should not need an income, any income, for at least 2-3 years of starting up. It does take time to build a business. If you have a boyfriend or girlfriend on whom you need to spend money, or you are married and your spouse isn’t working or have a child who needs support, factor it in before you decide to take that start-up ship. No investor wants you to take any respectable salary while also building your own business.
Remember what they say about compensation. It’s something you get paid when you can’t to do what you love doing. That means it’s either your business or compensation, not both.
If you have built the initial version of your product, great. If you haven’t, that’s okay too. As long you have a powerful idea, you owe it to yourself to see if you can execute it.