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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