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A start-up project (or company) is generally an innovation and just created project or company which is in a phase of development and research for markets.
This project is often associated with higher potential, scalability, rapid growth and higher risks. Here are some examples of successful start-ups:
That is why many people dream to turn their genius idea into a start-up and get millions and fame. But there is something common between all of them – wrong approach, and failure as a result. The very few of thousands could reach excellent results. Thanks to the correct approach described in this article, you’ll be able to reach better results, too. The main peculiarities of start-ups are:
You need 4 things to create a successful startup:
A short sequence of the start-up’s life cycle stages is the following:
During the seed stage the main work on turning your idea into business is done. Having an idea doesn’t mean having a business, you’ll have to work hard to realize your project successfully. It’s important that the main criteria of success for a start-up idea are its unicity, helpfulness and precise understanding of your goals.
This is why one of the most important stages of developing a successive start-up project is the competitive environment analysis. You need to evaluate your both material and intellectual abilities soberly — there is no need to create another Google, though it wasn’t the first search engine. At the same time, you need to make the analysis regularly if you don’t want to miss something important.
As a result of such analysis you’ll get a Business Plan, which should include the following:
You should also create an Executive summary (venture capital investments document) of your business proposal along with the Business plan.
Start up your project with a good business plan that shows investors and lenders your company's potential. Follow that up with a thorough knowledge of the resources available and a determination to make your business a reality, and you should be on your way to uncovering a source that fits your new business's cash needs.
Searching for a developer (or a team) and coding (prototype creation) go next. You can either do this together with your team’s members or turn to professional outsourcing development companies. They will analyze your idea, suggest some possible ways to improve and realize it, and deliver your product. In any case, choose your team critically, since you only need those people who are interested in your project’s success, and who can become an asset to it. That is why most startups began with a group of friends and like-minded persons.
A benefit of an outsourcing development is its scalability. Outsourcers make a team based on a project requirements, complexity and deadline. Depending on the requirements, your dedicated team might include a project manager, software developer, beta testers and whoever else needed to complete the project right, on time and on budget.
Testing thoroughly and frequently during the development process avoids bugs and customer-killing issues. After the testing is complete, deployment and documenting the original architecture begin.
Next goes a start-up stage, when the project is already started and it is time for active promotion and advertising. On this stage your tasks are:
At this stage usually arises a sharp question regarding the further project’s financing and, consequently, developing — as long as you’ve already spent your time and money. As practice shows, the main goal during the growth stage is finding an investor. If you want an investor to be interested in your project, you need the following:
Growth stage, expansion stage and exit stage are already reliable projects that are performing well in the marketplace.
Forms of financing start-ups:
There are some types of investment for start-ups:
For a successful search of investors and to make more sounds, you should submit to Startup Listing Sites. Certainly, getting on TechCrunch, Mashable, CenterNetworks or one of the other big blogs that cover startups is great, but there’s no shortage of smaller players in this space that can build awareness and drive traffic. At the same time, KillerStartups allows anyone to submit a startup, and the community votes on it. Other sites are Go2Web20, Listio, Simple Spark, StartupPoject and Feed My App.
If you want to do it, do it. Starting a startup is not such a great mystery as it looks like from outside. It's not something you have to know about "business" to do. Build something people love and spend less than you make. It is very interesting way to go to your success and new level of advance.