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How to start a Startup?

Avatar Written by Asra Israr · 2 min read>
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While the world has entered another year, many millennials are building a world of their own while creating opportunities and fortunately jobs for other people.  There could be many reasons for starting a Startup. Either you’ve found an unexplored niche in your area of expertise or working under someone is not your cup of tea. But what they aren’t aware of while starting Startups is exactly how to enter this task fully prepared.  There are many things to consider before you even think about creating a Startup. First, you need to be highly motivated to carry a startup from the start and lead it towards a growing and ongoing entity.

See also: 30 reasons you should have your own startup

Concept of an idea

When you find yourself determined enough to start a business of your own try thinking about the various types of idea that could be relevant to future use. As most of the appliances and software products being made are high-tech you could bounce around ideas related to technology, software or a product that sucks at the moment but could be improved with your help or idea. No matter what you find interesting try juggling them to see what fits best in the future that is strong enough to not only survive but is also sustainable.

Foolproof idea

After having brainstorming sessions, let’s say you are brilliant and have come up with a solution that will last for a long time. Then try to materialize it, that is bringing it to the prototype stage to see if it really works. Now try sharing it with your friends and family to see what they think about it. Remember, no matter what you come up with if it doesn’t work you can always go back to brainstorming. However, if your idea sticks with those around you then you won’t have any problem in getting funding it.

Finding a partner

But before you start thinking or even worrying about funding you have to search for a cofounder. Bring in a talented and cooperative partner or co-founder who will have skills that complement your own and take your company to the next level.  At this stage you probably need to search your professional network or college network who is willing to invest time on your Startup. The next step is setting up your company, but before you actually start on that, prepare yourself for the questions that you’ll be asked by various investors you need to fund your Startup.

Funding your Startup

Funding an idea that has not surfaced to the top is another conundrum on its own. The thing that investors do like to look at before they can invest in your startup is your product. Ask yourself these questions before reaching out for investors.  Does your product provide a unique solution? Can it be differentiated from other products? What kind of skills and competencies does your team have to make it successful? Does it have growth potential? Etc, etc.

See also: Which Crowdfunding Website Will Work For You?

Ready…Set…Launch

“Houston, we are ready for launch!” is one of my favorite movie dialogues that later was adapted in many films. Coming back to reality, now you are ready to launch your product and face the world. Even if your product doesn’t survive the ferocious world out there and is unable to attract at least 1000 users don’t fret. Come back to your prototype stage and go over it again and again to see what have you missed. Now re-launch. Follow up with the amount of users getting in touch with your product. Congratulations! You have reached more than 1000 users and therefore probably your product has the necessary demand to grow.

Bonus: Why a business plan is needed?

While startups have a long way to go to establish themselves as one of those billion dollar tech companies like Google and Facebook. Many do not see the light of the day and tumble before they even reach that stage. Yet in what has been a myriad of startups launch themselves in an economy stricken with recession, some have remained strong due to the skills and experience of the entrepreneurs and solid knowledge of the industry they launch their products in.