The start of it all. More than simply having an idea, here you’ll be laying the groundwork for things to come. At this stage your plans won’t be set in stone, but starting smart will give you the best possible position from which to grow your company.
So you have a startup idea? Nice! But you’ve got to be prepared for your idea to change several times. Maybe you’ll find that someone else has already realized your idea, or there’s a lack of interest in it. Let’s introduce you to some ways to prevent these issues and also determine how much money is necessary.
Validation is important to do right from the start, and you should keep doing it throughout the life of your company. Having a prototype is a great way to validate because it puts your ideas in the realm of the usable, making feedback easier for all sides.
The most common mistake in defining the vision of your startup is that it isn’t reachable. Such a vision doesn’t motivate anyone—quite the opposite. Visions must be understandable, memorable, and have an impact. At the same time, your overall vision shouldn’t be innately tied to current trends or minute specifics. It’s a delicate balance, …
This is the first time you will have something to show users.
Just as any long journey needs some form of navigation, your startup needs its own guidelines. The business plan involves answering key questions that help define what you’re trying to do and how you’re going to do it.
You’ve got some choices here. Depending on which market you’re entering or your own location on planet earth, you’re going to have different sets of options when looking for capital. The following covers these options and discusses when to use them.
With a business plan laid out, and some idea of where you’ll seek financing, the next step is presenting your fledgling startup to the world. Here we lay out some great practical tips for pitching and the mindset you should have before going into meetings.