What’s a startup?
Startup is an idea that can be taken forward to business and solve real time problems faced by society or Market In other words, Startup is a goal to bring innovation or change in market. Some of successful start-ups are Uber, Ola, xiomi, SpaceX, Flipkart, Amazon, Pinterest, etc.
What’s entrepreneurship and who’s an entrepreneur?
Entrepreneurship can be as implementing your ideas that could lead to change in the market. One should know the importance of the impact of your idea, One can make big difference but it’s useless if it doesn’t reach a mass volume of the population.
An entrepreneur is someone who tries to bring innovation in the market. An entrepreneur should have knowledge of the technology used in the market and said without vision nobody could’ve survived in a market.
How to pursue start-up ideas?
To pursue your start-up ideas, one should raise below questions on his/her idea and try to answer it:
- Research Market:
- What volume or mass of issues this start-up idea could solve?
- What would be impact socially?
- Talk it Out with Trusted Allies
- Is there any vendor who pursued same idea?
- if yes, what was their journey to reach pinnacle?
- Draft a Business Plan:
- What’s your budget? (check for financial feasibility)
- Is there anyone who can invest in your idea?
- Build Prototype:
- whether or not your vision is feasible?
- What sort of technology it will need?
If someone could answer above those questions then he could pursue his start-up idea.
Who would invest in our startup?
Venture capitalist likes a company which would invest in your startup. A unicorn is a privately held startup company valued at over $1 billion. The term was coined in 2013 by venture capitalist Aileen Lee, choosing the mythical animal to represent the statistical rarity of such successful ventures. Read finance related blogs and read Economic Times Newspaper and Consider how much money you need to start up and how you would like to fund your new enterprise. One can fund money by itself or take Bank loans or loans from the SBA (Small Business Administration). “crowdfunding” via outfits like Kickstarter would allow entrepreneurs to collect micro-donations to help their businesses grow.
How to get started with a startup idea?
Idea isn’t come out suddenly while having sip of tea. A start-up idea pops up while exploring various problems industries are facing. Get into freelancing and to pursue an internship to get taste of startup.
Once you have a strong idea of all of the steps outlined above, you’ll be ready to launch your business.
All the best!