Do you want to start your own startup? Follow the 6 startup first steps to achieve success with it. With passion and persistence there are great chances.
Sponsor Failory and get your business & product in front of +20,000 CEOs, startup founders, entrepreneurs, developers and marketers every month.
So you have decided to start a business. However, you’re slightly lost in regards to what steps to take. You are not alone. Many people are in the same position as you. You may have the money, or you may have none. No matter what your situation, there are steps you can take to reach your goals and avoid being part of the failed startup club. Let’s get into them:
Beforehand, you should have decided what your business is. What are you selling? And who are you selling to? It can be difficult to know what will be successful in this day in age. Is it wiser to start a business based on your passion, or on something that you know will sell? Both options have benefits, but you will need to do extensive research for whatever you choose to do. You will need to look at who is selling a similar product to yourself, and what their success looks like. Your goal should be to do 10x better than your competition. This may not happen overnight, but this should be a goal of yours. Surveys are also a great idea. You can distribute surveys to customers to get an idea of what they require. What is your competition lacking? It’s your job to fill these spots. It’s so important to learn the needs of your customers, this is what sets the best apart from the average.
If you are in the beginning stages and in severe need of help, I cannot stress how much a mentor will help you. If you need a sense of direction, a mentor will be able to provide you with this. Not only this, but a mentor will also give you further steps to starting a business. When you make the decision to create your own business, you’re going to feel excited and scared. A mentor will be able to stay by your side throughout the whole process and motivate when you feel that you cannot go any further.
You will not get very far without a business plan. A business plan can make or break your business. A great business plan will send you in the right direction, whilst a poor one could send things down to you very quickly. You should focus on the steps to start a startup, and put these into your business plan. Your mentor should be able to help with this too, and they will be able to identify any holes in your plan without fail. You will not regret creating a business plan. Starting your own business without a plan is a very dangerous path to go down, and we certainly do not recommend it!
Check out this video on how to write a perfect business plan:
Where do you plan to work from? Do you have an office at home? Do you plan on creating a home office? Perhaps there is somewhere you can rent. You should certainly take time to consider this, because you need to consider where you will get the most work done in the shortest amount of time. It is hard to focus in public places, so sometimes it’s smarter to work in isolation. When you start, you won’t have a huge amount of people working with you but as you grow, you will certainly need an office that can accommodate. Having an office appears very professional, and will only benefit you.
A practical guide on how to become a Viking and beat every problem you will face when building a side project.Download Now
Doing the work alone, even with the help of a mentor is not always enough. Having an extra hand can prove very handy. They may have experience with startups, which is an immediate benefit for you. They will have been in your position before, so they will be able to send you in the right direction. However, they may have zero experience. If this is the case, you’ll be in the same boat. If you decide to pick a friend, the chemistry you have will be to your benefit. This is shine through and you will begin to see great results quickly. A friend also won’t be afraid to tell you where you’re going wrong. Working alone can be a slippery slope, as you’re the only one who can correct yourself, but a co-founder can stop you in your tracks. I strongly recommend this if you’re a beginner. Do not let your pride stop you from reaching out to people for help, because it may be the best decision that you make!
Last but not least, we need to talk about officially registering your business. You can do this with your local government, and it is a step that you cannot miss. If you want to start a business, you need to do it the right and legal way. You will not get very far if you are not legally registered. Quite frankly, you will not be taken seriously as a business if you are not legally registered. It does not take long to do, and you will feel great once you have taken the time to make things official. So please, do not miss this step!
These 6 startup first steps will send you in the right direction. Once again, the internet is your best friend. Search Google for further steps and take in as much information as you can!
We’re always publishing new articles about startups. Sign up for our newsletter to keep updated on the latest additions. You can unsubscribe whenever you want!