6 steps to start your own startup

Do you want to start a new business and do not know what kind? Read my previous article (Startup VS Small business). If you have decided to start a startup below I will show you some steps you can follow until the launch of your business.


• Big Idea

Start with an idea. An idea that will solve a problem or evolve an existing service. After you have your strong idea look for whether the need you wish to cover is real and investigate how many and which people it affects. So, you've found your potential target audience.


• Technology

Startups are distinguished for the innovations and new technologies they use or discover. A key step is to see what technology your idea needs to come to life. What existing achievements can be exploited and developed? Should you develop something new? These questions must be answered at the initial stage of creating a new business.


• Business Plan

After you have answered and found a solution to the previous question start recording your business plan. In your business plan you must describe in detail your product or service and include general information about the industry in which you are going to join, financial data and an analysis of the market you want to enter. Business plan is a good tool for your negotiations with investors.


• Financing

A next important step is to secure funding so you can start. It is common in startups that the initial capital is given from your savings or from friends and relatives until your idea starts to make a profit. Also, finding the required capital can be done through a loan or angel investors who will believe in your idea. The method of crowdfunding, which we will talk about in a subsequent article, is quite widespread in such cases.


• Presence

Having secured the financing of your business you must start looking for a location to establish yourself. See if you need a physical presence for your business, if you need an office or space for your production. But even if you don't want a physical presence for your business, the online path is one way. Create your marketing plan and use social media and e-commerce platforms to enhance your brand's presence and awareness.


• Development

Finally, the most important thing for a startup is the desire to constantly evolve and consolidate more and more. From the beginning you have to set Development Goals and look at your startup from another perspective. The higher, and realistically, you set the bar the more you will achieve!


If you want to learn more about the world of startups I recommend the book by Steve Blank and Bob Dorf, "The Startup Owner's Manual: The Step-By-Step Guide to Building a Great Company".


Until next time like and subscribe!

M.R.




NOTE: This post may contain affiliate links. Please read my disclosure for more info. This adds no cost to you but it helps me focus on giving as much value as possible in every single post by being compensated for recommending products that I love using.

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