How To Build A Startup?

The trend of creating your own projects has already covered the whole world. In the context of economic turbulence and instability, small creative projects have become one of the driving forces of the economy. To own a multibillion-dollar capital, it is not at all necessary to build or buy a factory, it is enough to create Facebook (yes, this media giant was once a student startup). Some ideas resonate in the hearts of millions, others disappear without a trace, never having had time to reveal their potential. What is the reason for the ups/downs, and how to launch a truly successful enterprise?

Step-by-step instructions – how to create a startup from scratch

First, we would like to warn you, if you have stocked up with a pen and a notebook for writing down the addresses and names of people who will help you “organize everything”, you will not find such information here. And hardly anywhere else, since each idea is individual, and requires the same individual approach. Next, we will describe 7 startup stages of development that will help you navigate.

Step 1

And the first was the word, and the word was “idea.” Of course, you can read with less pathos, but the essence remains the same: first, you need to come up with an idea that will be developed to success. Moreover, it does not have to be new or ingenious.

It might be something that a lot of people deal with on a daily basis, but just don’t see the simplicity of the solution. Create something that wins against the background of existing analogues – you are a winner.

Step 2

A start-up is any business undertaking that, as a rule, has a short history of development and limited resources. At the inception stage, a startup team may have only a few or even one person, but the closer the idea is to implementation, the more a businessman needs a team. Without it, it will be not only difficult, but almost impossible to go beyond the “garage” production.

The limited resources, and hence the salary, at the first stage greatly complicates the process of finding colleagues and employees, so you should look for like-minded people who will also burn their eyes from the concept. The energy and initiative of such a team will give unlimited results.

Step 3

According to experts, success largely depends on the audience for which the product is designed. If you develop, for example, an application that helps friends find a song “by excerpt”, as Shazam does, then such software will be interesting for other music lovers.

In addition, you need to consider how free the niche you are trying to conquer is. In business, the absence of competitors is called a “blue ocean”, i.e. the new offer will be one and only, which means it will be easier to attract the attention of customers. If the plan that is ripening in your head is aimed at the “red oceans”, where there are already successful and not very competitive options, then before fighting for a buyer, you should carefully familiarize yourself with the analogues and take them into account their mistakes to the maximum. This will help you avoid trouble in the future.

As a startup, you must focus on customer relationship management because every client that associates with you will help build your business.

Step 4

At this stage, it is already necessary to form the goals and concept of your business: what we are creating, who is interested in it, what scales we want to achieve. For the correct formation of the proposal, it is advisable to back up these thoughts with numbers – this will help at the financing stage.

Step 5

Do not start looking for investors by talking about production “on the fingers.” Create a project with a basic set of characteristics, which, if necessary, will be improved, increased and adjusted to the wishes of the client, and they (these very wishes) can change very quickly.

And the ability to respond to them as quickly as possible is priceless. Such a project will definitely appeal to investors who invest their hard-earned money in your idea.

Step 6

Before launching the project to the masses, under the gaze of future enthusiastic users, you will have to create and test several versions of the product. Ask your friends, acquaintances or relatives to take part in testing the created equipment, toys, clothes or software. Consider their opinions: are the needs of the buyer completely satisfied, are there any shortcomings (even the most insignificant ones). Remember, it is better to refine and fix something at the launch stage than to redo it after a failed sales attempt.

Step 7

Search for investors. Due to the fact that a startup is a business of the young and young, parents or relatives most often act as the first financial partners and investors. If such a plan is not suitable, you need to think about where to look for outside funding and how much interest you are willing to offer (optimum is 15-25%).

Arrange meetings and negotiations. Thanks to the development of the Internet, the search for investors is not limited to businessmen in their city, and support can also be found abroad. Do not fight for the attention of one company or person, find several interested parties, and move on to agreements. Do not be afraid to express your conditions, be open, but confident. In addition, you can raise funds on the Kickstarter or Indiegogo platforms – the conditions and the interface are simple and clear.

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