Making a successful start up is different from making a start up successful. It all starts with fear , fear of defeat , fear of loss and fear of failure. But it all depends on how you start , your start up to you take it ahead. No one can stop or even defend what we are afraid of , but few things can be considered that will minimize the risk of failure of the startups. This post lists 10 things that need to be considered for a effective success of a start up.
#1 Location: You cannot move ahead with both accelerator and brake in use , either of it should be released in order to move. Similarly you cannot move ahead unless you place your start up in a place where people can come to know about you being there. Business is all about showing up , making people feel your presence. Location will do this for you, so better be wise in choosing location for business.
#2 Niche: As obvious as name for every human , you ought to be crystal clear with what you are intending to do in this field of risks. Once you are clear with what you want to trade , first step towards a successful start up is taken, be your niche even little obscure , that will turn up to a reason of huge regret later. You may find yourself pinned in the corner with no growth in the field. Plan well.
#3 Derivative Idea: Inspired by someone ??? better stick to that person in right way as the circumstances when person grew weren’t same as yours. Master pieces are just once. Be smart in replicating some one in you. Opportunities are unlimited , so are ideas but circumstances and efforts are always unique. keep people as idol for achievement not for growth.
#4 Obstinacy: One of the major killer of the startups is obstinacy. Avoiding views of people whom you are working for is nothing less than inviting a thief to loot your belongings. Be loud in hearing what your users,change with user’s views and half of your efforts to promote your business is done.One who fails to adapt a change in the world where change is the only constant will be fruitless attempt for those.
#5 Hiring bad professionals: Hiring is crucial part which will decide where the start will be few years down the line. Differentiating between a good and a bad professional requires yourself being good. Hire good people who can further hire good people. Employees are building blocks of your empire.
#6 Platform: If your start up is a mobile based or web based entity , better be vigilant in choosing the platform of your service failing to this might lead you to lose whatever you’ve managed to accumulate so far. And if you are thinking of launching your ideas from physical world to the world inside a mobile device or computer , again choose a right platform to be secure your very existence in the business.
#7 Target: First things, first. Before you take off, decide where you want to land. Ideas on paper seems so easy to achieve but actual challenge arises when you start implementing. Those who target well, reach well and those who reach well ,they reap well. Target your audience with ease.
#8 Money Mind: Be wise in keeping balance between expenses and income. Plan well for spending and you will not have to plan the income, it will pump out well. Also raising too much money through investors is equally dangerous as it may lead to debt down the line. You are supposed to impress the users not the investors.
Remember, companies rocking the current market were just an idea initially.They have reached where they stand now by planning, analyzing and judging well, and with a stone heart to bear something unexpected, ways mentioned above reflects that texture of planning of those great minds.