Why work for someone else, when you can build your own dream?
You’d probably like to believe that you can revolutionize the business world the way Bill Gates and Steve Jobs did. But is that really true? You know the answer best! Launching a Startup is definitely the trend right now, but most of them fail.
“According to Bloomberg, 80% Startups fail within 18 months”
But hey, don’t lose heart! Regardless of the Industry you are targeting, your startup can flourish with blooming colors with these must-follow 7 steps,
1. Embrace the Right Moment
Most of the Startups simply fail because they could not start-off at the right time. They were unable to capitalize on their idea. You need to pick up the right moment to start your company. Make sure that you launch your product at a balanced timeframe — neither the economy should be at peak nor at its ebb. Capture the correct instance and seize it.
“Waiting for perfect is never as smart as making progress.”— Seth Godin
2. Start Right Away
A lot of startups waste too much time on planning. No one can have a perfect start as things will go out of your plan. We are not saying you to rush anything, but make sure that you have a tentative deadline in your mind to launch your startup. Start your project timely and you can always revamp it with latest trends later.
“The way to get started is to quit talking and start doing.” — Walt Disney, Co-founder, Disney
3. Hire the Right People
Right people are the key to your success. As Richard Branson Says, “When your input is right, output is far easier to manage”. Now, What exactly do we mean by Right people? As a startup, you need to hire people who believe in your product. Employees are the lifeline of a company, make sure that they share the same passion and vision as you.
4. Be Flexible
It is very rare that things will go exactly as planned. You need to be flexible and make amends as the market demands. Stick to your project, keep pouring in the efforts and you will succeed. Accept the fact that more learning would lead to more earning.
“You don’t learn to walk by following rules. You learn by doing and falling over.” — Richard Branson, Virgin Group Founder
5. Stick to a Budget
Most of the startups don’t have the capital to execute their plan efficiently. You need to keep track of every penny that will be invested in your project. You must make a detailed budget. While planning, make sure that you underestimate the revenues and overestimate the costs. Keep looking for cheaper and better alternatives.
6. Find a co-founder
Starting a new company means tackling new challenges, meeting new investors and managing a professional team daily. Even Bill Gates required a co-founder. Same goes for any other successful name in the industry. It’s easy to manage everything if you have a partner. No one can handle everything on their own. Make sure to find a right comrade.
7. Be Socially Active
It’s very important to build a loyal audience. No matter whether you have started or not, keep creating buzz. Start a blog— publish interesting articles daily. You may also publish about the new advancement you’ve made. Make sure that you remain socially active on popular social media platforms.
These are the 7 tips that even the most visionary ideas have gone through. Use these tips as a checklist to keep a track of your progress. Even if people criticize you, believe in your product and steer forward. One last advice that may help you — “Go for it, Keep pressing the Pedal”
Surely, the road ahead is difficult but it’s not impossible. Make sure that you collaborate with the right partners. Let us take care of your online branding and social media marketing. We are here to help you on each and every step of your way. Let’s plan together!
