Startups are an Arithmetic Progression of your Dreams!
It is all about thinking out of the box. An experiment which is assumed to have the potential to emerge as a sensation, with the right mission and vision or call it illusion which gives your hypothesis wings to fly. It is only an experiment to prove that the target problem can be solved not only effectively and profitably but also in a profitably scalable manner!
Anybody can Dream, there is No Tax; Likewise, anybody can start a Startup.
Any dream which does not lead to sleepless nights should not qualify as a startup…
Merely cause of the fact, that it has already been executed a couple of times and has lost its unique essence. To start with such a pursuit was never a startup!
Related Read: Do You Think You Can Start A Startup?
So the rule is, IF EASY IT’S NO MORE CHEESY!!!
Dreams do not lead to failures, never will; if done properly.
If u can Dream it, you can do it.
Startups are labelled as FAILED only when they are judged against the expectations defined at the time of their initiation. When the expected profit figures do not land up matching with the ones already predicted.
There are certain stepping stones you need to cautiously figure out, make sure not to leave any of it unturned ..
Does A Honey Bee know whom she is producing Honey for?
We wish Honey Bee knew the customers before producing her honey. Unlike, the bee, do your base research about your clients. It gives a refined edge to your product.
- Formulate assumptions
- Track down the features of your competitors, if any
- Talk to a couple of target consumers before initiating.
- Try to widen the scope by increasing the customer base by enhancing your product.
- If possible try your product on a couple of customers
- Validate your product from the valuable feedbacks.
Your First Pocket Money – will you Blow it all or Save it ?
It’s a common human tendency to be a Spendthrift. However, a Startup is no less than playing with fire; you should rightly analyse where to spend and where to save. It’s not about being a miser, it’s about a smart allocation of your limited resources.
- Focus on product development rather than your work place. This is the most common mistake made by start-ups , the land up investing on office infrastructure and escalating their overheads.
P.S.-one can always opt for working from home.
- Don’t blow-up to create a fancy
P.S.- Hire on Survival based Salary
- Spend your pooled resources on things which can help you track leads or capture the target customers.
Suppose, if you are relying on the website, for customer acquisition, then you should spend on Content and web designing rather than wasting it on printed brochures.
Did your Fingers Explore all realms of French like ..
Get your hands dirty with Tech codes. If you are a non-techie co-founder its the time to learn. You can get work done efficiently from others only when you have a hack of it yourself. You don’t have to become a pro, but a basic technical know-how is a must have.
- It will help to sort your thought process once you know how it is implemented.
- It eases out the tension, which is rampant in Startups. You would no longer expect out the way from your technical team, especially if your product is a software.
- It will help you to recruit your team wisely.
“Market” when in, Market and not just shop…
Sell your product, even if you are not from marketing end.
P.S.: I am not asking you to be a Jack of all Trades, Master of None.
- You can be proud owners of your own dreams
- Try to explore first-hand experience of all areas your startup caters to.
- It provides you an edge which even the internet can’t provide, it makes you come in terms of real customer pain areas.
Is your Gut empty at work?
No, I m not asking you to reach your workplace with an empty stomach. Let your gut do all the thinking for your brains. Take firm decisions when required by trusting your empty gut, your intuition.
- Don’t procrastinate tough decision like hiring or firing , budgets
- Don’t blame lack of information, let your gut join the loose ends.
- Intuitions are more stronger than figures at times, learn to believe and follow.
Money is just Dust, Don’t let it Rust- Your Dreams.
Money is just a by- product, don’t let it influence your passion to explore your dreams. The quest for instant money might drift you from your ultimate goal.
- Customer support should be your first aim
- Product innovation
- Market capture schemes
New blood now a days resort to Cash burnouts , it’s a marketing strategy where they sell their products below the cost, such difference is funded from their own pockets. It is a good strategy if implemented wisely to capture the masses overnight.
However, before it’s too long the cash run out, and the time to terminate the startup becomes as definitive as it for the sun to set once it rises. One should roll back your eyes, have a flashback of that very dream from where the journey started.
Related Read: 7 Key Learnings For Aspiring Entrepreneurs
(Disclaimer: This is a guest post submitted on Techstory by the mentioned authors. All the contents and images in the article have been provided to Techstory by the authors of the article. Techstory is not responsible or liable for any content in this article.)
About The Author
Nimisha Gupta has an unleashed zest for everything creative. Is a budding writer, inspired from coffee beans to pen down, when the world sleeps. It’s not about the destination rather the journey. #Musicbuff #Coffeeholic #ChocoManiac #Trailblazer.