How to Begin and Run a Startup?
So you got tired of being an employee, and you think it’s about time for you to start your own business? You want to do something you like, something you can dedicate yourself to, something that you will watch grow and become what you dreamed of? Great, we have just the thing for you. It is really not that difficult! Just follow our pieces of advice, and you will succeed!
Ready, set, go!
Don’t think about today, but about tomorrow. Be ahead of your time, never consider things that are already there. Think what we will need in 5 years when technology gets another shock of change?
Find what is missing in the world
An app, a tool, a service that you think people would use. Find it simply by looking carefully at your own life. Which activities do you find tiring, and not enjoyable?
Write it down
Whatever you think of, write it down. You don’t want to forget a very good idea and then spend the rest of your life beating yourself up. Bounce ideas around, talk to friends, family, and hear their opinions.
Just make one. Even the best thought-out ideas might be proven lousy with one simple prototype. When you build a functioning one, go and show it to 100 people. Based on their reactions you can adapt it. Think about it until it makes perfect sense, and then create.
Find a co-founder to work with, and then register your company and split the equity.
Look for someone who is willing to invest in your idea, because every start-up has a period when it isn’t earning any money.
Tell everyone that you made something, make a party, and let them try it out. There’s nothing better than an honest recommendation.
If your users aren’t coming back, you need to launch again. If they are coming back? Fight hard to get to the first 1000 users. Then, keep fighting to get the weekly growth up to 5%.
If you keep that growth rate, in 4 years, you will reach 25 million users.
Now that you’ve built your start-up, you need to know how to run it.
Here are a few useful tips from successful start-ups all over the world.
A perfect budget – many new business owners think that it is merely enough to find an investor who will give them a huge chunk of cash and that it will certainly be enough for all their expenses. This is unwise. We cannot explain well how important a perfectly detailed budget is. Every penny must be accounted for.
Self-control – Not only when it comes to spending money, even though that is a must. In every manner running your own business requires excellent self-discipline. It is easy to fall into a „we’re just a start-up“ trap. Plan ahead what has to be done. Set up goals not for days, but for months in advance. It will make you pull a few long days, but it is better than being behind your schedule.
Networking – You need crazy social skills. If you don’t have a single investor willing to put all of his trust (and money) into your venture, you need to work tirelessly. Expand your network, seek new connections, make opportunities for powerful people to get to know more about you and your business.
Be flexible – It is ok to make a detailed plan for every future step, but it is not ok to follow it blindly. If some segment of your plan is not working out, replace it, rethink the entire strategy, and, if necessary, even start all over again.
Follow through – even the best plans with most innovative ideas will count for nothing if you lack perseverance, knowledge, and skills to carry it out. Why? Because in the end, it is far more important that you know how to do what need to be done than it is to find out what needs to be done. Be ready to do some heavy lifting, and your start-up just might succeed.
In the end, the key is to start doing something you love, to become really good at it, and then make a business out of it. Don’t expect just to get other people’s money to spend, and don’t expect to get rich quickly. That is the seed of failure.
Now, just positive thoughts, and to the drawing board!
More in Business Lounge
These Are The Design Secrets Behind Creating a Home Office That’ll Actually Help You Get Things Done
Working from the comfort of one’s home is an opportunity that not everybody has. But although many people dream of having...February 11, 2020
Prince Harry & Meghan Markle Just Made a Shocking Decision That Shook Up The Royal Family–Here’s Everything You Need to Know About It
Since they got together as a couple, the Duke and Duchess of Sussex have been known for their not-so-traditional ways. But...February 11, 2020
You’re Probably Wasting Precious Time Overdoing These Morning Rituals–Here’s How You Can Take Better Control Of Your Most Productive Hours
According to experts, the first two hours of a person’s awake time are also the most valuable of the day. And...February 11, 2020
You’ll Be Amazed to See The Incredible & Surprising Features These Celebrities Have Inside Their Homes
While the rich and famous may have plenty of things in common with regular folks, it’s no secret that some aspects...February 11, 2020
Traditions Aren’t Just For The Holidays–Here’s How You Can Create Your Own Set & Benefit From It
Every family has its own set of traditions they practice come the holiday seasons. May it be watching a specific Christmas...February 11, 2020
Get Ready To Advance Your Career By Leaving These Bad Pieces Of Advice Behind Once And For All
There is no shortage of career advice available on the Internet. In fact, there are so many experts and articles on...February 10, 2020
Millennials May Be Accused Of Killing The Housing Market But They Are Keeping This Business Niche Alive And Well
Millennials have been accused of killing a great many industries from diamonds to chain restaurants to the housing market. The generation...February 10, 2020
Check Out The Swanky Mansion Actor John Travolta Just Sold to Taylor Swift’s Nemesis Scooter Braun
Word on the street is that ‘Grease’ actor John Travolta has just said bye-bye to his longtime estate in Brentwood, California....February 10, 2020
Find Out What The Queen Really Thinks Of Prince Harry & Meghan Markle’s Surprising Departure From The Royal Life
The Duke and Duchess of Sussex’s decision to step down from their post as senior members of the royal family, or...February 10, 2020