Whether you are thinking of starting a business (or a startup), then this article is a big advantage for you. By the end, we have done the whole step by step on How to start a startup.
How to Start a Startup
When you think about starting any business, there are many questions that arise in your mind. Some of the questions that come in an entrepreneur’s mind are: What business idea finalizes, how to finalize the business name, how to register a startup, how to get the customer for your business, etc. Today all of these questions will be cleared in this article.
1) Think of a good idea
To start any startup, we need a good idea. Now the question arises how do we know that idea is good enough to wok on it. Generally, a good idea is something that solves the real problem faced by human beings either in their daily life or in their profession/work life.
2) Market analysis
Now it is time to understand your market where you have to start your startup business. Market analysis will help you in finding out market size estimation, market segmentation along with competitors.
3) See what is missing in the market
After doing market research, you will find out what is missing in the market in the segment you are going to provide the services/product. That missing thing from the market will help your business to outstand and will be considered as USP for your business. This is will help you to grow your business very effectively.
4) Choose your startup name
Naming your startup is one of the most important steps before launching any startup. As we all know that choosing a perfect name would significantly help in the success of any Business.
Launching your startup and looking for a perfect name that suits to it? Here, We came up with an article on “How To Choose A Startup Name” that would definitely help you in naming your startup.
5) Make a Business Model
Prepare a business model of your startup business. Business Model is about what your business will do, how the management will work, what products/services you will be providing, what areas your business will be serving, what resources you have to start it and how to arrange the resources required for your business to run.
6) Write a Business Plan
After you have selected the Idea on which you are willing to work, You need to write down your business plan either by making a presentation or making a note.
We have prepared a complete guide in 8 steps on How to write a Business Plan
7) Show your model to 100 people
When your Plan is ready, review it at least 10 times from top to bottom so that you can understand what you wrote and after you got the satisfaction from your plan, show up this plan to 100 people whom you know and can have faith(trust). Ask for feedback from them.
8) Find Co-Founders
When you are completely confident about your plan and ready to start executing it. This is the time to find a co-founder who has interest and skills in that very particular field which will help in the success and growth of Business. Make sure the person whom you are working is trustworthy.
9) Register Your Business
So, the next step should be to register your startup business. You should always register a business before starting it to make your startup legal and trustworthy. You can consult any legal advisor to get your business registered and get all the legal formalities done.
10) Time to Raise Funding
Now is the time to raise funding for your startup to execute. Here we came up with the 8 most reliable way to get your startup funded.
- FAMILY AND FRIENDS
- CROWDFUNDING PLATFORMS
11) Find a mentor
Having a mentor in every field is very crucial for the guidance. Having proper guidance will eventually make your startup grow, resulting in the success of the business. Mentors are different in every field. Mentor are those who have already gain success and knowledge in the field you are going to work.
12) Launch it
Now is the time to launch and execute your idea.
13) Get to 1,000 users
After starting your startup business, your first milestone should be to bring 1000 users, and it is only possible when your idea is really solving people’s real problems along saving their money & time.
14) Success – whatever that is
This point is just for your motivation. I know you can achieve whatever you decide. So all you need to execute everything properly and in a proper manner with consistency.