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Are you an entrepreneur, or thinking of becoming one? Do you have questions? Of course you do.

This is why ArabNet, Wamda, AltCity and other entrepreneur-friendly spaces hold networking events and other "informal" occasions.

This year, Wamda organized its biggest Mix N’ Mentor event in Lebanon, in a revamped "Marketplace Edition" format. The event brought budding entrepreneurs and leading regional and international mentors under one tent to network and exchange ideas.

In case you missed it and you're still at square one, here’s a small compilation of valuable insights collected from experts animating the event’s workshops and mentorship sessions.

Navigating the Talent Pool, and Catching the Prize

Attracting talent is one of the main challenges for startups in the absence of competitive salaries. And team building becomes all the more difficult when entrepreneurs exhaust their time and energy in a fruitless quest for perfect talent.

“If you’re thinking about perfection, you’re going to be in trouble,” noted Fadi Ghandour, Managing Partner at Wamda Capital and co-founder of Aramex. “Look for raw talent, do not look for perfect talent.” Raw talent is mostly made up of fresh college graduates who, once given the opportunity and provided with adequate training, can grow to be valuable assets for your startup on all fronts.

Even if you manage to build a good team, loyalty remains a chief concern when you’re a small startup that cannot offer competitive benefits compared to large companies. As an entrepreneur, your task here is to draw talent in through the power of an idea as opposed to a set of material benefits. “In order to attract fresh talent, you need to 'sell them the dream’ in steps,” Ghandour added.  

At the end of the day, team building is exactly what it suggests: building, and it takes effort to build a team and own it. “You’ll always find someone who will stick with you and one way to reach that would be to give them a sense of ownership,” said Ghaith Yafi, Managing Partner at Y Venture Partners.

User Growth: The Rules of Attractiveness

In order to implement effective user growth strategies, you need to have a clear definition of what a good user is for your brand/product, and identify the right KPIs. Before proceeding with to the demographic insights part, you need to sharpen your focus and build expertise in a specific area.

“Build a name for yourself in a specific industry instead of losing focus, Lebanon may be trickier than other markets here as it’s a lot about who you know,” said Alain Mayni, Client Partner at Facebook.

A good reputation is the first thing you should be thinking of. “The earlier you are in the market, the faster you will grow and the more the chances that people are going to approach you,” said Abdallah Yafi, Managing Partner at Y Venture Partners.

Although online platforms may be the most cost-effective way to market your product or service, you should not direct your entire focus on one social network. “Startups make a mistake by focusing only on Facebook, Yafi noted.

“I would outsource a lot of things, SEO for instance, but not my social media because nobody knows your product better than you do so it’s better not to go through agencies,” he added.

That being said, attracting users has its costs. “You have to be very competitive, even if you have to sacrifice your margins early on,” Yafi concluded.

To Venture or Not to Venture?

The growth stages of startups could be divided into: idea stage, then possibly acceleration, and finally the investable stage. So if your startup is still at a very early stage, maybe venture marketing is not for you yet.

Abdallah Yafi noted: “You should fundraise as late as possible, use the money to actually validate your business.”

But this does not mean you should leave it to the last minute, especially at a time when investors are becoming more entrepreneur-friendly than ever. "The mindset of the investors has changed, they do not strangle the entrepreneurs and allow them to execute. You can immediately know whether an investor is entrepreneur-friendly or not.”

“Don’t wait until you need the money to ask for it,” he added.

When it comes to term sheets, the tricky part is to try to steer away from complicated wording and terms as the most they can do is complicate your life. “Simple is better, and it is also important to have a lawyer who understands venture capital,” said Lana Alamat, Partner and General Counsel at Wamda Capital.

“Do not overvalue your company, do it in steps and don’t oversell. But most importantly do not create a business to sell it,” she added.

To end on a high note, Yafi left us with these words; “If it’s a good company you’re going to get funded these days."

See related: Dave McClure Gives Arab Startups 7 Tips to Success