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How to start a Startup?
A five-step plan for starting a business, when you have no idea what to do or where to start.
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The bad news:
Building a sustainable, scalable, and ethical business is not easy.
In fact, it could well be one of the hardest things youâll ever do.
And then, just when you think youâve got it figured out, a pandemic starts.
Things are about to get tough.
Building a sustainable, scalable, and ethical business is not easy.
In fact, it could well be one of the hardest things youâll ever do.
And then, just when you think youâve got it figured out, a pandemic starts.
Things are about to get tough.
The good news:
Now might be the right time to scratch that entrepreneurial itch and start a side hustle that turns into a hustle.
Hereâs a couple of businesses that were born in recession to get you pumped â Microsoft, Disney, General Motors, Google, and Facebook.
Now might be the right time to scratch that entrepreneurial itch and start a side hustle that turns into a hustle.
Hereâs a couple of businesses that were born in recession to get you pumped â Microsoft, Disney, General Motors, Google, and Facebook.
The complication:
This is all well and good, weâd all love to own Google, but wtf are you going to build and where do you start?
This is all well and good, weâd all love to own Google, but wtf are you going to build and where do you start?
Are you ready? Letâs do thisâŠ
Step 1 â Find the Problem
But how do you find a problem?
Well, it's easy, observe everything around you every day and ask yourself what would make this cooler or better.
I promise you, just in a few days, you will find a ton of ideas and problems that you can solve.
But how do you find a problem?
Well, it's easy, observe everything around you every day and ask yourself what would make this cooler or better.
I promise you, just in a few days, you will find a ton of ideas and problems that you can solve.
Step 2 â Is this actually an issue?
Just because you think itâs an issue, doesnât mean it actually is for others, or it may not be big enough that they are willing to pay for it.
Spend more time on this.
The more you understand the problem, the better the solution will be.
Just because you think itâs an issue, doesnât mean it actually is for others, or it may not be big enough that they are willing to pay for it.
Spend more time on this.
The more you understand the problem, the better the solution will be.
Step 3- MVP
Some of you may confuse an MVP with Prototype.
While an MVP is actually a product that will be used by your audience, a prototype is just a draft of your idea.
Build a very simplified version and get it out in the market to validate the idea.
Some of you may confuse an MVP with Prototype.
While an MVP is actually a product that will be used by your audience, a prototype is just a draft of your idea.
Build a very simplified version and get it out in the market to validate the idea.
Step 4 â Is this worth it?
This is pretty critical because if it doesnât add up, you will need to go back to step 1.
Ask yourself:
- is it scalable?
- will they pay for it?
- how many customers do you need to make enough money for it to be worth it?
This is pretty critical because if it doesnât add up, you will need to go back to step 1.
Ask yourself:
- is it scalable?
- will they pay for it?
- how many customers do you need to make enough money for it to be worth it?
Step 5 â Avengers Assemble
Remember you are not a superman.
"The biggest mistake I see founders make is thinking they can do it all on their own."
- Warwick Hill.
Find help, get a team, and jump into it.
Make your dreams come true!
Remember you are not a superman.
"The biggest mistake I see founders make is thinking they can do it all on their own."
- Warwick Hill.
Find help, get a team, and jump into it.
Make your dreams come true!
If you want to help others starting a business, retweet the first tweet below! https://twitter.com/_pankaj_patidar/status/1380874209606402050
