A startup launch is a great opportunity to realize ambitions and desires. Today, more and more people, especially those who graduated from universities, launch their projects. Sometimes, this is the only opportunity to realize the skills, knowledge, and ambitions. Do not believe in advertising and beautiful stories of successful projects. The development of a startup is a complex process. It requires a lot of effort. Do you want to successfully build and develop your project? Then you must correctly prepare it for launch. Let’s talk more about it!
What is the difference between a Startup and a small business?
What is a startup? Some peole confuse startups and small businesses, thinking that this is the same thing. Someone calls any new business a startup. Others call any new project in the IT sphere a startup.
A startup is a temporary form of organization. It is always looking for a reproducible and scalable business model. The idea is developing from scratch, and startup’s main goal is to enter the market to start earning. Such projects develop in conditions of limited resources. If the head of the startup does not manage to realize ideas in time and does not find an investor, then the project is likely to close. The lack of sufficient funding is the main reason for the failures of the majority of startups! The uniqueness of the idea and the innovation of its implementation is not as critical for success as the resources.
Small business is a constant workflow. It uses a scalable business model that can be repeated. You must have the method of earnings and the method of its implementation. Each business has nuances. However, the concept and methods of implementation in most cases are similar.
This is the main difference between startups and small businesses. Startupers are looking for new methods of implementing ideas in conditions of limited resources. They are looking for a new business model in certain conditions. Successful projects often find new innovative ideas and approaches to the implementation of these ideas. It is not surprising that such projects are often compared with something new. In case of success, the startup turns into a successful business. In case of failure, everyone forgets about the project and idea.
The main startup types
You can start a startup in any niche you are interested in. The main condition is to prepare a project for implementation. We’ll talk about it below. You need to understand that almost all Startups can be divided into two types:
- Classic projects. The foundation of such a startup is a simple idea, processed and implemented in a new form. For example, a well-known product modifies and expands its functionality.
- Innovative projects. Startups are trying to realize discoveries and innovative ideas. It is necessary to invest a lot of funds at the initial stage in such projects. The idea needs to be finalized and implemented.
Are you a beginner in the world of startups? Then you better start with a classic project. Innovative Startups require knowledge and skills. You can not cope with the challenges and bury an interesting idea or discovery.
How to prepare for a startup launch?
You found out what a startup is and what type of project is better for the implementation of a beginner. Now let’s look at what steps you should go before you run your project!
Search for an idea
As mentioned above, a simple idea is the best solution for a beginner in the world of startups. Innovation and discoveries are difficult to promote if you do not have enough experience. There are several methods for finding a simple idea for startup. Find a specific consumer pain, improve or accelerate the existing business and make expensive products/services available.
The next step is to analyze the chosen idea. Before you launch a new project, you must analyze competitors, consumer preferences and determine the market volume.
The analysis can be carried out independently using industry publications and resources, search engine statistics, official resources with financial information, and so on. There is another option – to order a special study from a financial specialist or company.
After analyzing the market, you need to understand what share it can potentially take on it and what will be the competitive advantage of the product/service. You must offer something new that competitors do not have. Such an approach will facilitate entering the market to get the first profit!
Choosing a form of activity
Any business needs to be registered to develop a project by law. For example, create a legal entity or get the status of an individual entrepreneur. A startup does not have to immediately register as a business, especially at the stage of searching for the idea and analysis of the market. But when you tested the product, analyzed demand, and concluded that the project can be launched, you should determine the form of the project.
Preparation for the team organization
Effective teamwork is the key to the success of any project. The higher the motivation of the team, the better and faster it performs the tasks. There are different methods to rally employees in a single team. Team Building methods will also help you.
At the planning stage, you must develop a teamwork strategy and ways to implement it. How will you build command work? Will you hire an office or use remote work? How many employees will you hire at every stage of development?
You must choose corporate applications and tools to manage the project. Today it is impossible to successfully develop a startup without using IT services and applications such as Slack, Microsoft Teams, Trello, Notion, etc. Analyze the advantages and disadvantages of IT services and select the most convenient and suitable digital tool for you. For example, Microsoft Teams is a powerful product for managing startups and interactions between team members. The platform offers a variety of tools. You can also install integration. For example, Microsoft 365 Business Voice SMS allows you to use your Phone business to develop your project. Send mass SMS newsletters, appoint meetings, communicate with team members, process customer requests, and much more!
Search for additional resources
Most startups develop in conditions of limited resources. Not all of them cope with challenges in difficult conditions. Therefore, think in advance about funding if necessary. Today it is not as difficult as it was 5-10 years ago. What are the options? These are crowdfunding sites, business angels, and startup accelerators. There are many options. The main condition is to create a short and interesting presentation of your project. You must interest a potential investor. You need to do it quickly!