Ten Steps to Launch Start-Ups” pofo_title_responsive_settings
Doing market research is the first step in determining if the idea you have in mind is efficient and feasible. Start your research by writing down what you think is wrong with the process. In fact, by launching a new start-up, you want to take the problem out of the wrong path and simplify it. So, you need to write your text on paper and put it in front of your eyes.
Imagine how many people like you have thought about this problem and its impact in a process? These people are the ones who will buy your start-up’s product or service and become one of your customers. The only thing you need to get a clear answer to in your research and questions is whether the idea you have in mind will be helpful enough, problem-solving, and different from other existing ideas? You have to consider that you should keep the research documents to use them in the later steps. These documents will help your fundraising and convince investors in the future.
2) Patent and protect intellectual property for your start-up idea
Once you are sure that you have a creative idea which you want to implement and start your start-up, you should be aware of all the risks that may threaten it. To protect your idea, secure Intellectual Property before doing anything. Intellectual property is a process created by an individual or company to protect the rights of a product. Examples include copyright, trademarks, and brand registration. This is one of the factors that are crucial for the success of your product and start-up. IP will be a helpful protocol to protect your start-up idea from other similar businesses. At the same time, no one else will be able to steal the idea and patent it in their name. Only if you have an IP for your start-up, the law can protect the rights of you as a property owner and your business.
3) Choose a brand name
A brand and its importance are more than just choosing a familiar name. A brand is a name for your start-up’s business identity. So, you have to select a title as your brand name to be able to support it. Your brand should be commensurate with your goal of starting a start-up and, of course, be harmonic and tuneful.
4) Domain registration in line with the brand title
In setting up a start-up, after choosing your brand title, you should register a domain with your brand name as soon as possible. And create your start-up page on all social networks. Although you do not need to start posting quickly, be sure to have the pages in your reservation.
5) Define the items and topics in the start-up plan
This is a critical issue. It means the proper definition you give of your business. Consult an accountant or company registration expert in this regard. This is important because you will face issues such as income tax in the future. The definition you give your start-up and company today determines the amount of tax you have to pay.
6) Find an investor or choose a co-founder
Lack of financial support for a start-up can destroy even the best ideas. Some investors look at the idea development team first before looking at the idea to decide for investment.
If you have an idea that has been implemented in the past, show it to investors so that they can believe in your intelligence and level of knowledge about running a project. Most investors look for someone who has at least some history with successful start-up projects. Otherwise, you have to spend more energy and time to satisfy them.
If this is your first start-up experience, you can show the documents you have prepared in the first stage (market analysis and research) to investors with a professional and statistical look to know that although this is a new experience, their money will not be at risk.
7) Business plan writing
It is very significant to have a complete plan for what you want to do. It must include all stages of work. Of course, many issues arise while doing work that is unpredictable and will require crisis management. But writing a plan can be a way to start a start-up strongly.
Developing the right business plan means targeting the goals, milestones, and requirements. Use the market research you have done, write the business plan, prepare it, and make a good decision based on it.
8) Choose the right office for your work.
Many start-up founders choose home as their office to get started. While this may not be a problem at first, entrepreneurs suggest that creating an office can give a better identity to a moving forward start-up.
9) Select a start-up mentor or incubator
Having a mentor in the development of a start-up plan has significant benefits. A guide can give you deep insight and rationality in your field of activity and be helpful when dealing with challenges. The best consultant is someone who has had one or more personal or team experience in starting a start-up before. It is better to choose someone who has been successful in this field and has a clear and multifaceted view of the market.
10) Capital Raise
Finally, once your start-up project has completed all these steps, you should look for ways to increase its initial investment. Raising capital means increasing the credibility of a start-up before it officially enters the market. This stage is not difficult as finding the first investors, but it will not be so easy. In fact, the new start-up must have reached a good level of growth and development so that you can increase its influence as much as possible and give it financial credit by raising its capital.