Some simple tips for startups

Some Simple Startups

Tips

for

‘Startups’ is the latest buzzword of the day. Most people wants to join the race of building their own startup, which is good but not without risks.

Very few are actually unaware of how fast things can go wrong and eventually fail. In fact 90% of the ‘Startups’ fail for innumerable number of basic reasons.

‘Startup’ is basically an entrepreneurial venture or a business in the form of a company, a partnership or temporary organization designed to search for a repeatable and scalable business model. These companies are newly created, which is either meant to be innovative or doing something ordinary in an extraordinary way.

Simple Tips for Startups:

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Have a single mission which is simple:According to ALAN JOHNSON, the co-founder of tree house said that the biggest thing to start up a company on a mission is not just the companies building the nifty product. It’s about making the technology education affordable and accessible on everyone on this earth and doing this it will be working for a really long time and will likely it will be more to do. Brand with a single and non-conflicting purpose. Have a steady goal. Most startups don’t die, they commit suicide, due to lack of vision of the founders. Be a go-getter and stick to the mission no matter what comes. Things will gradually fall in place.

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Get out of your comfort zone: If you are having a backup plan already, like a side-profession which is your fallback plan in case your startup doesn’t click, your startup is already dying. You already have means not to push harder.

Build lean, plan but not more: Plan keeping your vision intact and get onto building something fast. Features can be added incrementally. Don’t get stuck to planning for long, try to push clients showing the prototypes or a wireframe demo. Once you get client confidence and good reviews ask for money and add customized features.

Don’t miss the bus: There are already competitors out there, having the same idea, waiting for angel-funding or maybe already into the business. If you have an idea, implement it and launch something harnessing your idea. If you miss the opportunity, it will be tough to recapture it. For ‘Startups’ if you have an idea, TODAY is the

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best day, tomorrow it is going to be tougher. If you are not nimble and not quick on your toes, that’s it.

Find right people and fire fast: A team which bonds well can do anything. Hire people smarter than you and don’t have an ego.

Don’t micro-manage. People who are technically good and knows their stuff knows what to do as well. A team member who is not as good as expected to be, it is better to part ways with. Better being practical than being emotional.

Be spendthrift but not a miser: Starting a company with limited funds is always tough. So spend wisely but not hold yourself back in case buying something or hiring an expensive resource is worth it. At the end, it is going to give you more dividend than you actually spend. If you always hold yourself back from investing where you should, you are getting nowhere.

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Face the hurdles together: ‘United we stand, divided we fall’ – This is truer in case of a ‘Startup’. Have yourself surrounded with an awesome team who are ready to give great ideas and face any crunch situations. Every person has his own blind-spots, so going at it together will help overcome all blind-spots one may have and thus achieve the heights smoothly.

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Be prepared: Sell what you know. Be good at your business. That is the basic. If you do your homework properly you are at it. Be clear with your assumptions. Do what you love and you will be amazed at the end of the day to see how much energy you have put into your company voluntarily without breaking a sweat.

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Startups are always very competitive with less than 10-12% which actually succeed. Find your niche, have a vision and be a go-getter.

Be clear with your basic fundamentals and you have a way to go.For more info visit: www.beltranslation.org

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