Commencing a startup is an easy task. Yes, you heard correct. Starting up is easy, scaling it up is the tough task pal.
The basic requirement or prerequisite for any startup company is an idea. You need to think about a bunch of ideas by pinching your brain with a fore vision of what present scenario needs exactly.
Definition: Creating or formulating an idea to the existing pain. The idea should be feasible, scalable and replicable. Without touching the technical terms, at the outset, let me elucidate my inner view through the best example.
For instance, there is a professor who is pro in teaching mathematics who lives in Hyderabad. His aim is to provide pearls of wisdom for the young minds who want to settle in their career. A thought struck in his mind, establishing a coaching center for the welfare of the student community. This idea is fine. Students joined in the institute and benefited. If he wants to establish some more branches in different places of the world, it is possible but the same professor can’t teach in every branch. The sole aim of providing quality service will be lost. This idea is feasible but not scalable.
What is the better solution for the above problem? Many questions are wandering in his mind. One-stop solution for all wh questions is providing services through online teaching. This idea can help all the students in every nuke and corner of the world. This idea is feasible, scalable and replicable. For a good STARTUP, these type of ideas is essential. The pain of students turned into an idea to help them. Nowadays, there are many courses and sites to learn about various types of things.
There are a wide variety of aspects to be considered for starting a startup. Some of the integral steps are:
1) Idea Initiation:
“Good Foundation is the stepping stone for best success”. The foundation for the startup is an idea. It’s the heart of the start-up. Everyone in the world directly or indirectly gets ideas but only a few will give a kick start.
2) Choosing the right business platform or category:
There are ample amount of business types in our country. One must pick the optimal one which is apt according to the capital and feasibility. There are types like Solo Proprietorship, Partnership and limited partnership. Opt the best which is convenient for you.
3) Registration process:
After obtaining the idea, choosing the right platform. Our next step is to register. This is just for authentication or proof that a particular type of business is owned or managed by a particular individual in a certain place with some rules and specifications
4) Innovative Property Rights:
One must protect their unique logo, idea, work, theme, process, and operations. By taking this type of rights, we can get better assurance and assistance.
5) Opting the partner:
Be careful while selecting the partner. Nowadays, people are deceiving due to excessive greed for everything. The entire world is running on the fake note. Join him only if he/she is trustworthy. “Hope for the best and prepare for the worst”.
Many people perplex before starting a startup because they don’t have a clear idea about what kind of start-up should they opt or whether the customers turn up or not. Knowledge is not enough to break the doors of fear, wisdom plays a vital role.
1) Question everything around you, know the pulse of the public. To become great, you need to answer small or basic queries which you get for every now and then.
You need to ask some of the questions to your heart before implementation.
a) Is it feasible and interesting ??
b) Is there any other way to achieve your result easily?
c) Then, think twice about the risk or complexity and move on.
One needs to think in a different way, do what 99 % of the people aren’t doing. Some companies will sell their products to small sector companies, some of the companies will sell directly to the customers by creating demand for the product.
One should not work for money, one must try to add colour to someone’s life by coming up with an idea.
2) Principle and Tagline:
The principle is different from the tagline. The principle is given for the employees of an organisation in order to work according to that. A tagline is for customers, they must understand the need for a product or what it provides. Words have great power to rule the world. So, these lines must be framed in the best possible way.
Example: Principle of Facebook is “Move fast and break things fast”
3) Take action:
If you are thinking about a software model, start pinching your brain and code the optimal program. If you are thinking about the physical product, start working with what you have by building a prototype with your knowledge.
4) Find lifetime besties :
It’s nothing but finding out the right partners. Even if you have plan and money, there must be a person to support you or guide you. One cannot be right in all the situations.
5) Target customers:
Know the interests and expectations of the people by observation or slight research. By knowing these things, you need to promote your product or organization through the proper channel.
6) Hire working people
Hire remote workers, recruit the people who are in the dire need of job from different locations. This will help the organization because they always stay with the company when there is a need even in non-working hours, they will give assistance. This will help your organization by bringing in skills that are scarce in your location. Finding remote workers is a big challenge.
Hire contract workers, take an agreement with them like bond without leaving the company. This will help you in big projects where work can’t move without the mass.