You have dreams of getting your very first startup off the ground, but you’re not quite sure which steps you should take. The good news is that, what a startup takes to get started isn’t very much at all. That is, it takes very little effort to get a startup actually put together. It’s much more difficult to scale up once you get started. Let’s look at the steps required to put your new venture together, as well as a few tips you can use to make scaling easy as pie.
·An Idea: Most startup tips you come across will begin by telling you to Google your idea right off the bat. That’s because a startup idea must have two requirements. It must be original and it must have a basic need that people need or want solved. If you Google your idea and nothing comes up, you might have just what a startup takes to be successful on your hands. The next step is to scour online forums to see if anyone has a need that your startup might fill.
·The Right People: All startup tips will next tell you to surround yourself with like-minded people. Few startups are ever created in a vacuum. Sure, we’ve all heard the story about Mark Zuckerberg creating Facebook in his dorm room, but the reality is that most of what a startup takes is lots of intelligent minds working together. Be wary of hiring friends, as conflicts can arise, but do start to look for other professionals who seem to have the same startup dreams and values as you do.
·The Proper Resources: What tools do you need to get your startup off the ground? Do you need a particular software program, or several programs? Do you need physical machines or gadgets? Or maybe you need a combination of the above and a lot more? This is the stage of what a startup takes that requires you to list the resources you need, and then you need to form a plan to get those resources at any cost.
·Some Money: Speaking of cost, all businesses require at least some amount of money to start. Most startup tips will tell you to start asking for money right away from investors, banks and credit unions and even from friends and family. The most important thing to note here is that people giving you money to get your startup off the ground will want to know how you plan to yield them a return on their original investment. In other words, how will those giving you money make money in return? Answer that question and you’ll likely have no trouble sourcing the funding you need.
·Legal Mumbo Jumbo: The lawyers and previous business owners before you know what a startup takes and they’re just who you want to consult with before you put these startup tips into action. The lawyers will help you structure your business and keep you in line with current tax laws. The Small Business Administration or SBA will provide you with free advice for putting your startup venture into action. Do not skip this step or you may find yourself facing trouble – legal or otherwise – later on.
·Marketing & Sales: Remember those people with a need that only your startup can solve? At this stage, you will begin to reach out to those people. Your marketing message should speak directly to your target customer. Your sales price should be at a price point they can easily afford and your customer service should be second to none.
·Ability to Scale: Now that you know what a startup takes, you have what you need to actually get started. The trick is to grow your business once it’s off the ground. Some startups get picked up by bigger companies like Google of Facebook and go on to make billions of dollars in profit. While that may not happen to your startup, you should still have a plan to scale upwards – and quickly – if you wish to remain relevant.
The best way to scale quickly once you have put these startup tips into place is to offer discounts for your main offer, assuming that you have monetized what you’re offering, and then offer premium services at an upcharge to your most loyal of customers. Once you begin to know your customers and you start to become aware of their preferences, you’ll soon find more ways to make money and scaling shouldn’t be a problem. It’s all about building a solid foundation that you can then build off of, and that is precisely what these tips are designed to do.
The first step to getting a new startup off the ground is to actually get started. You now have several startup tips to help you bring your idea to fruition. The sooner you get started, the closer you’ll be to achieving your dreams of startup success.