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Ultimate Guide for Getting Your Start-Up to Take Off

When it comes to beginning a startup, just like any other business, this is going to be a major mix of challenges and rewards. It can be stressful, but in the end, it’s going to be worth it.

One of the major fears for any business is the fear of failing. So why do startups fail? It’s primarily due to trying to provide a product or service that the market doesn’t need. Sometimes, it’s all up to the location that the business is in. The idea could work, but the location of the market they’re trying to serve just doesn’t cut out. No demand means no income, which is why around 40% of these startups fail.

There may be plenty of reasons why you’d like to have a startup, there is always the chance that it can lead to something major to the point your business could be in Silicon Valley. There are so many things that one needs to know for hopping on the Start-Up train. Whatever reason why you’re wanting to begin, here is the ultimate guide to help you out. You’ll be given information on how you can succeed, how to secure funding, and how to market it! 

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How to get the start-up to become a success

It’s all about the realistic planning

No matter the type of business your startup is going to be, the strategy to make it into success has to be realistic. Your plan doesn’t have to be multiple pages and charts. But it should be clear and detailed enough for you and your team to understand. This plan should include how you’ll fund it, how you’ll achieve your objectives, and what steps you want to take. It may be very lengthy or it may not, but you just need to be very clear and very realistic with yourself.

Slow and steady wins the race

It’s all about taking it slow, taking slow, small baby steps. You never want to get started on a business on the wrong foot, never. Instead, it’s best to be very slow about this. This will give you the chance to think, think about what may be missing and what may be needed. Going slow is going to be the best way to ensure your success.  Sure, the idea of rushing it so it can get successful sooner is very tempting but there are most likely going to be things you forget or lack any sort of attention to. In general, you’ll just want to avoid doing this.

 This will allow you to conduct some thorough research, develop creative solutions, and maybe the critical thinking process will be better since you’re not going to be overwhelmed. You want to build a solid and stable foundation, and building it slowly is going to be the key to its success.

Get the proper tools

For most startups, it means getting the proper tech. You want to have the most up-to-date tech for your software if you can get it. This is going to include any updated software, OS for your computer, a computer, and anything else you believe you may need.

Know what others need

While it’s true that for any business you’ll need to have the proper tools, you'll also need to check to see if there is anything else that you may need.  Since many startups or other businesses fail due to trying out a product or service that isn’t in demand, how can you avoid this? What can you do to avoid being a part of this statistic? What is the industry that you’re aiming your startup to be in? Are you able to find any gaps or holes that other companies within the industry aren’t filling? You need to try to find a solution to a problem, you want your business to be that solution.

Understand laws and regulations

When it comes to being a business owner, you never know when a lawsuit may happen. This also can include having an unexpected fine for breaking the law. Understanding laws can be very confusing, which is why you’ll need to look into hiring a business lawyer or law firm that specializes in businesses. They’re going to be the ones to help you out with ensuring that you’re not breaking any laws, legal requirements, and they will even help prepare documents for you.

How to fund your startup

There are plenty of ways to start funding your startup, here are some of the more common methods.

Self-funding

Another term for self-funding a business is called “bootstrapping”. This is one of the more common ways to finance a startup and one of the more stressful freeways too. While it’s true that finding funding is very stressful, relying on yourself is one of the best ways. You will however need to budget accordingly for this. Many people will get funds from their retirement or their emergency fund, and it’s not exactly ideal.  While it’s great to have your startup being fully tied to you, you shouldn’t risk your finances for it. Another method for self-funding would be to sell items that you no longer need such as personal belongings, stocks, bonds, and even cryptocurrency.

Tap into programs

If you live in a major city, then you may have the opportunity to easily find funds. Some cities will have grants, business accelerator programs, and even investor programs. These are all available to assist in creating startups and to help them take off. While each city is different, it never hurts to look at what you may potentially offer.

Let a loan

There are plenty of ways to get loans such as from a bank, using a credit card, but there are other methods too. Getting a business loan tends to be difficult, but personal loans are far easier thankfully. You just need to keep in mind that there are multiple factors in determining whether or not you can receive a loan.

Crowdfunding

One of the more popular ways that many startups are getting funding is by crowdfunding. This is kind of a mix between a loan and a preorder of a product or service. It’s a great way to get interested, catch attention, while also receiving some funding for the business. This is also wonderful for cutting out the traditional investors and having regular people (customers) help out in the process of getting the business up and going.  This also still allows you to be dynamic and creative within your business. There are plenty of crowdfunding websites that start-up businesses use such as Kickstarter and IndieGoGo.

Asking help from friends and family

One of the bigger mistakes is asking loved ones for help. This can truly lead to damaging relationships if you don’t pay back your money on time. If you’re someone who is asking for help from friends and family then you need to keep in mind that they are the ones taking a risk on you. You should also mention that this is a loan rather than an investment. Unless you’re wanting them to legally have a say in the business, be sure to make it only as a loan. Don’t forget to have some paperwork done when receiving this loan from them.

Effective ways to market your startup

Most startups begin at having a low budget but thankfully marketing doesn’t need to be expensive. There are plenty of affordable ways to market your business from the traditional foil business cards to posting content on social media.

Content is king

When it comes to content, that’s going to be one of the best ways to attract potential customers and clients. There are plenty of cost-effective ways to make great and valuable content such as webinars, ebooks, helpful newsletters, and even videos. People like to gain value and learn, so you have to make sure that is what you’ll be providing. You can easily create ebooks and webinar slides on Canva, and videos don’t require too much work either.

Networking

Whether you’re hosting an event or attending an event, networking is a fabulous way to get your business known and it’s a great way to develop connections. You should utilize going to corporate events such as trade shows and conventions as these are two excellent places to get known and to find potential clients as well as partners.

Referral marketing

Having current customers advertise for you is a great way to save money but it’s another fantastic way to hit the traditional “word-of-mouth” marketing. Having customers share their experience with your business is going to show loyalty and it’s also going to show that your business can be trusted.

Social media

Social media is heavily used by businesses in all sorts of different industries. This is one of the best ways to get known and to grow a following. However, you need to keep in mind that you need to provide valuable content if you want to grow a following and get recognized. Posting on social media is free but it’s mostly the ads that help garner the most attention.

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