“The secret of getting ahead is getting started. The secret of getting started is breaking your complex overwhelming tasks into smaller manageable tasks, and then starting on the first one.”
– Mark Twain, American Humorist and Author.
In the last few years, such a thing as a startup has become quite popular and oft-debated. The concept of “startup” originally appeared in the field of information technology and was associated with the building of new organizations, which tried to offer their target audience something new and unusual. Today, a startup is a common name for any young company, firm or project, created with the expectation of the rapid growth and, as a result, high capitalization. After several months/years, the project is not called a startup any more, because it either receives recognition and investment support to continue development or closes as uncompetitive one.
Far from everybody will dare to take the first decisive step towards their dream and launch a startup. We are all afraid of the uncertainty associated with the perspective of opening your own business. We all fear failure, stress, and loss. After all, people tend to fear change. What does it mean to start an IT startup? This complicated process involves developing an idea, searching for business partners, hiring the right people, marketing a project (building a website, advertising, and etc.), and much more. We all fear that we are making a mistake. But AirBnB, Instagram, LinkedIn, and other successful startups did not hesitate to promote their idea and look where they are.
One of the tasks of a proper startup is a fast launch and rapid growth. Experts recommend not to delay the launch of the project and go with your product to the market. This way you can understand what your audience needs and if they need it at all.
Let’s try to sort it out and make the list of 10 tips that will help launch your startup faster.
10 Essential Tips That Will Help Launch Your Startup Faster
Launching a new business is not so easy because it requires a lot of work and no one can promise you that everything will be smooth and successful. I have analyzed the experience of the most prosperous projects to collect the essential tips on how to start a business faster. Here you go.
1.Push your fears aside and develop an idea
One of the often-observed difficulties is the inability to overcome the fear and doubts, and to find the strength to make an important decision. As a result, many people give up their dreams and get stuck in a boring job for the whole life. Quite often the problem lies not even in the lack of opportunities because we know a lot of people who started their business from scratch and achieved excellent results. You should remember one simple truth – nothing will happen until you start. Once the first step is made, it will be much easier to go ahead and continue.
Creating a business means focussing on one powerful idea. Whether it is launching a messenger or online classes, the idea should inspire and stop you from sleeping at night. Any further development strategy of your business depends on the idea. That is fine to make mistakes, you just need to develop your idea and make the first step towards building a successful startup.
2. Do not try to cope with everything alone
Very few successful startups were founded and developed by one person. A lonely journey in terms of starting a business means that the founder could not find anyone who would be interested in providing assistance or cooperation. When things get off the ground, it will be very challenging to deal with the problems alone. If you are backed up by other people who face the same risks as you, any issues are much easier to solve. In addition, when you cooperate with others, this is an additional motivation on how to run your business properly and not to screw over your partner.
3. Attract investors
The current situation on the IT investment market is more than favorable. But still, this is not sufficient for the investors’ optimism in relation to IT innovations. Startups are usually funded by huge IT corporations, ABRT Venture Funds, business angels, banks, and etc. Also, there are other forms of investment such as crowdfunding and crowd-investing. These tools involve investing at the expense of future users of the product. It works well with games and gadget development.
4. Build a great team of the right people and do not be afraid of delegation
Scientific research confirms that the team shows the best results when employees communicate often, have different views of life, bring new knowledge and experience. Each participant of the project should make a useful contribution both to the development of project management and to the creation of the product itself.
Delegation is one of the most important tools a leader of the company should utilize. This is the ability to achieve high results using the time and work of the subordinates. Without this skill, the organization will not be able to develop quickly and efficiently, and revenues will not grow as wished them to be.
5. Hire remote professionals
The most obvious advantage of remote work for the employer is a significant reduction of expenses. Moreover, the studies have shown that remote workers are 10-15% more productive than employees who spend all their time in the office, although it may seem that the office disciplines better. The most successful employees are those who understand the importance of the result, not the number of hours spent in the office. So, do not be afraid to hire the talents remotely.
6. Build a durable relationship with your target audience
At first glance, customers are faceless people who have money. It is important to make them spend the money on your products and services. Note, with this approach, your business is a short-term project. It is important to understand that people feel pressure, indifference and go to the competitor where their interests are taken into account. Get to know your target audience to build communication, sales, and service effectively.
7. Stay positive and communicate with successful and inspiring people
To think positively and at the same time not to forget about possible difficulties is another step towards financial success. Communicate with interesting people and listen to the advice of smart and successful entrepreneurs whose examples you would like to follow. It is always great to push people to get them better. The secret of successful people is their successful environment. I cannot but agree with this statement. The famous saying ‘Lie down with dogs, get up with fleas” is true not only from the point of view of bad habits. It also says that we adopt a way of thinking, attitude to life, and practices of people around us.
8. Do not get stuck on money
Do not focus on income and wealth while building a startup project. If your product is in demand, no doubt, it will bring a good income and popularity of the project. Business growth and development is not all about money. At the initial stage of launching a business, it is important to build a good client base and reputation, develop your product, and not to earn money. Some first-time businessmen are too busy calculating how much money they will make tomorrow instead of focusing on the present financial needs and building an actual company.
9. Improve the product/service in the process
The goal of entering the market with a perfect product looks attractive. But it takes time to develop and improve. And now you have the choice either to sell what you currently have or postpone the start of business. Study the problems of the target audience, prepare a proposal and go out to the market. It is much more effective to improve your business in the process than to wait for a successful coincidence of all factors. At the stage of building a relationship with the market, startup developers need to understand how to promote the project and how to position it in order not to lose their market share.
10. Invest in marketing
Active marketing is one of the most effective investment to help your business grow constantly. Often new businesses bring their products on the market in the hope that people will knock on their doors. But this is unlikely to happen. Instead of waiting for potential customers, you need to search for them yourself with one or more direct marketing tactics such as Internet marketing, TV sales, mobile marketing, and etc. Creating your own business is a great idea, but make sure there is a demand for your product and work hard to promote it effectively. Lack of marketing or poor quality marketing is one of the main reasons for business failures.
Do not hesitate to turn your business ideas into reality. Do not look for guarantees, and do not expect that your road will be easy. If you have an idea, a plan, and a supportive team, go ahead. The bottom line of launching your business fast is to make the first step. Remember, there is no loss in business – you either make mistakes and get the valuable experience, or you do everything right and get money and success. After all, all IT giants were small at the very beginning, and the corporation, which occupies a 5-story building of the office center, consisted of three people long ago. The world is your oyster, go ahead!