A lot of dedication is required to start a startup, you have to put all your strength in it. If you have made up your mind to start a startup with all your hard work, then definitely read the steps given below.
Step 1) Problem
People don't buy products, they buy solutions to a problem. First of all, you have to identify the problem and you can also get an idea about this problem from personal experience.
Neeraj Jeevani, the founder of Hindi Sahayata, observed one day that his mother was doing some search on the internet. Mother searched the net by writing it in Hinglish and found nothing in the search result. Not even an answer came from Google's huge data repository.
Neeraj found this thing very surprising and he started researching it. On doing research, it was found that crores of people in India find answers to their questions like this on the Internet, whether it is to apply for a document or to know about any scheme.
Here Neeraj identified this problem and thus the Hindi Help Forum was created.
Similarly, you can also identify a problem from your personal experience and as soon as you find a problem, ask yourself this question:
Is this a problem that everyone has to face?
Will the life of many people be easier by bringing a solution to this problem?
When and how often do people have such problems?
Which class of people have this problem?
Step 2) Ideation और Solution
Here you work on the solution of the problem and this solution becomes your business idea.
As soon as you get solutions, share them with people and know their reaction.
Is he happy with this idea/solution?
Will a larger section benefit from this idea?
In this way, with a little market research, you can validate your idea.
Step 3) Finding the Dream Team
If you have decided to turn your Idea into a Startup, then you have to search for your Dream Team. First of all, you should explore your skills, apart from this, work on what people will be needed in your startup.
A good startup is made up of the following specialized people:
Chief Executive Officer (CEO) – He leads the entire startup and motivates everyone to work towards the company's vision - mission.
Chief Growth Officer (CGO) – He works towards the growth of the company through the right business plan.
Chief Marketing Officer (CMO) – He is responsible for the marketing related work in the company.
Chief Technology Officer (CTO) – Responsible for technology related matters.
Chief Design Officer (CDO) – All responsibility related to the design.
Chief Financial Officer (CFO) – All the responsibilities related to finance in startup.
A good team is very important. Look for people you enjoy working with, especially in the early stages.
Step 4) Customer Persona
To take your Idea to the customers, you must first define the Customer Persona. This is a form of your true consumer class created by market research. In this, you ensure aspects like consumer information like Age Group, Educational Background, Language etc.
To understand the correct information of your consumer and their needs, you must interview them by survey.
Step 5) Create a prototype
To understand the potential of your idea, you have to do a prototype. Here you prepare the system of your product. The prototype has 2 stages:
make on paper first
then form the digital design
For example: If your product is a digital solution then first make a process of it on paper like
Consumer visited your website.
What information should he see there first?
What options should be available on the website?
At what stage will the consumer's need be met?
What is the thing that will motivate the consumer to purchase / subscribe.
You have to be a little creative here, by creating your prototype using color markers and color labels, first of all you show it to the people close to you and pay attention to their reaction. This will help you to create a better user interface for the consumer.
Now you can prepare your Digital Prototype. If you do not have the knowledge of Coding, then do not worry at all, you can create your Digital Prototype on the tools given below.
adobe xd
Marvel App
Material.io
Moqups.com
After the prototype is ready, once again get it tested by the people and make changes in the product according to the feedback. Now your Idea is not just Idea, you have moved one step ahead, and start working towards your marketing plan.
Step 6) Marketing Plan
Now that your prototype is ready, now it's time to go in front of the world. Make sure your short and long term goal is because marketing plan plays a big role in a real startup.
What message do you want to convey? What is unique in your product? The answers to all these will be needed in the marketing plan. Here you also have to decide which channels you will use. Online Channels or Offline Channels or both, you can decide according to your customer persona.
An important part of the marketing plan is the landing page where you redirect your consumers through the campaign. Keep in mind, the landing page should have all the information according to the needs of the consumer, then these consumers become your customers.
Step 7) Business और Revenue Model
No company can run without revenue. There will be revenue only then you will be able to move forward in that business / startup.
Revenue is the most difficult and important part in any startup. It is important to have a business and revenue model for the survival of the startup itself. We can see it like this.
The business model describes what value the company is providing for its customers, and the revenue model itself is involved. A company can actually operate multiple business models at the same time.
The Revenue Model ensures that how the company will generate its revenue.
At this stage, you focus on the planning and sales process related to the earning of your startup. Here you will find out the cost i.e. per-unit cost of your product as well as logistics and operations.
Step 8) Startup Funding
This is the last step of starting your startup and the first step towards growing your business. If you do not want to fund yourself for your startup, then you can bring startup funding in other ways.
Where did the funding come from?
From your friends or family : This is a simple way to raise funds, and this will also let you know how much people close to you are trusting your startup idea.
Funding from Venture Capitalist : This is a group of Professional Investors, who specializes in Startup Funding. If your Startup Idea and Startup Plan is accurate then Venture Capitalist will rain Funds on your Startup.
Crowd Funding : Here you are sold to people through Crowd Funding Campaign. Those who like your idea will contribute to your funding.
Through Startup Loan: Startup Loan is also available for you. If you want to get funding through Startup Loan, then on the basis of your credit history, you are given a Startup Loan, and for this you must have a correct and detailed business plan of your Startup Idea. There are many options related to Startup Loan In India, you can also take advantage of it.
Read further, what are the advantages of startup business and how you can make more money in less time.
Benefits of Startup
The working style of Traditional Business and Startup Company is very different. Startups are trying to fly high from the beginning, that is why they give many facilities and flexibility to all the people associated with their company. If you have never been a part of any startup then definitely read further.
Growth Culture — Employees are not only motivated by salary. They are often motivated by learning, growing, and challenges. Startup companies keep their employees in such a way where they can be successful, learn new skills and do things that they do not get the opportunity to do anywhere else.
Flexible Culture — Startups believe in giving all kinds of flexibility to their employees so that the Employee can work comfortably wherever and whenever he wants to. This increases productivity in work and it directly proves beneficial to the company itself.
Stock Options - Startups do not just pay salaries to their employees but also make them shareholders in the company through stocks. With this, the Employee understands the company and works with full dedication and it proves to be a big contribution to the success of the company.
Fast Paced Environment — You will generally find Fast Paced Environment in Startups. No appointment or permission needed to meet CEO here, meet him whenever you want. This makes the Decision Making Process faster and Employees can work on new projects without any interruption.
Valuation Game - If your Startup is being successful in the true sense in the market, then you can get a line of investors and in this way the Valuation of your Startup increases and you can make very good money in less time.
We hope that this article of ours has inspired you, how did you like this article of ours and what do you think about startup, do tell us in the comment.
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