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How to Start a Startup?

This is a post of tips and ways on how to start a start up.
Paul Graham reveal an essay about start up, And after a long, I would like to recall it to interpret when and how to start up a start up. The essay put in some points. This are-

1.       See the future
People live in the past or current time, but they don’t try to live in the future, they can’t see the future. Past and present success stories is easy to analyze; and easy to follow that, but there is no guarantee of repeat of past or present success startups. Impossible can be possible. So, try to see the future, and find the idea for future business.

2.       Find what is missing in the world
Try to find out what is missing in the world. The missing thing or service can be the new product for your profit. People will be interested quickly. For instance, when phone had been discovered, the cover was missing at that time. And what is missing around us right now? Try to discover it.

3.       Note it down
Write down your thought, Scientist Einstein had written every time his thoughts. When you find something, no matter what it is, write it down for recall. Daydream is not valueless, your observation, washroom thoughts, ideas on gossips might be your next big project.

4.       Create a prototype
Most of the people forget about their thoughts even though those are written, because all ideas do not require final actions, When you make a prototype of your thought, you are one step ahead of the future of the business. A prototype is more than a simple written paper. It is design also, it is program too. Sometimes it is a physical part of the imagination.

5.       Show prototype to people
Sort some people to discuss with them about your prototype. Show them your prototype. Show it minimum 100 people. Let them to criticize your prototype. Try to sort trustworthy and honest people; otherwise they might steal your idea. Be careful about it. Why 100 people? Because, you need a floor of recognition on your project, you need to get a relax from the feedback about your prototype and future of that.

6.       Iterate
Some people might think and say your thought is not perfect, You might need to redo all from scratch.

7.       Search a co-starter
When you see the prototype is a real image and it starts making sense, come across one or more co-starter, who can stay with a new business for long. Who can take it as their life?  Sometimes co-founders are important.

8.       Regulate your start up
Go to a business lawyer who will register your business and company with regulatory bodies and tax offices. Who will help you to split your company values and equities correctly?

9.       Find investment
Build a first version of your product or service by your own money. Then, offer people to buy company shares; that mean you need investors to market your product over the market. So, you are in the highest stair, if you get fund.

10.   Launch the product or service
Just launch your product or service at this time. Add some extra features or values than 1st version. And get feedbacks. Analyze feedbacks.

11.   Analyze market reactions
Analyze market feedbacks, follow up with consumers. See users if they are coming back. Find out why they returning or why they are not returning. Analyze the reactions from the customers or users.

12.   Re-launch if fail
Re-launch your product or service with extra value all time till at least some customers are returning.

13.   Get 1000 customers
1000 users or customers are not a big amount. But your 1st 1000 customers are valuable to identify the weakness and hardness of your product or service. How to get 1000 users? You can go to the yard of the people by foot to find them.

14.   Set growth rate of the market
You can set your market growth rate by 5% annually. After setting this rate, just monitor the figure until you will have reached some years ends. One day you will have tons of users.

15.   IPO
It can be your dream, the IPO. When you reach to the IPO of your company that will mean the company is in a stable situation. It is also true that, many big companies haven’t gone to the stock market yet.

In the end, your thought is a big company, so, the 15 points of the how to start a start up is a good idea to apply to your business and startup. Good luck, beyond your performance. If you see this article about startup is helpful for entrepreneur, please share it with your friends on facebook, twitter and linkedin etc. Published on http://howmix.blogspot.com
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