20 Tips That Will Help In A Successful Startup

What to do and avoid before commencing a startup

Tips for Imagination ➡️ Execution ➡️ Success

A dream catcher filters the negative energy and passes the positive energy or vibes. I don’t know how much it is correct, but I find them cute, and they are my stress buster. When I look at my dream catcher, it gives me an enormous amount of positive vibes.

A successful startup doesn’t start with an IDEA. It starts with the REAL PROBLEM.

Many individuals have a dream to set up their own startup company, but only some of them can launch it. Out of that, some, just a few, turns into a successful entrepreneur.

Most people believe that the specific business generates more revenue. They prefer entering that business, despite knowing much about the product and its audience.

Ask yourself the below questions:

* Do you have a passion for the business?

* Do you have an interest in the product which you want to launch?

* Do you have knowledge about the product?

* Do you have knowledge about the targeted audience?

* Do you have time and initial fund to invest along with your other commitments and responsibility?

If your answers to the above questions are Yes, then definitely you can start your startup.

Here are the tips that can help you convert your idea (THE REAL PROBLEM) into a successful STARTUP.

STARTUP is not like a 100-meter race. It is like a RELAY RACE, which you can win by the efforts and contribution of each individual team member.

Ten tips to convert your imagination into startups

1. Find a realistic problem.

Find the real problem. The real problem means the problem for which people are looking for a solution. If there is a real problem, then your product will get into existence. Otherwise, it doesn't matter how excellent your product is; it will not survive in the market.

2. Find the remedy to the real problem.

Once you have identified the real problem, look for how your solution will change society. How it will affect productivity, or it will ease the work. Now you have a great start-up idea. It completes your second stage.

3. Back to uni-days — Market Research

Whoa, wait…

* We have to check whether the same product already exists or not?

* If yes, then how your product is unique from others?

* When customers have a HANDFUL OPTIONS, why they will align to your product?

So start your assignment on Market Research.

Lots of market research needed, but believe me, it is WORTH it. It will tell you whether you should logically start your business or not.

Once your research finds that, yes, your BUSINESS IDEA (now we can say it as a business idea) is

• Great.
• Different from others.
• This product will bring a positive change to society.

Then congratulations, you have cleared the third stage.

4. Create an effective business plan.

Now the real excitement starts. Yes, I know; this will give a feeling like starting a startup.

Let's make a business plan. There are countless business models available. Find the right one according to your business needs.

Don’t stress too much to find out the perfect business plan because no business plan is perfect.

Once you start the battle, you will learn your perfect moves from your experiences.

5. Funding

We have a Business idea that will bring a positive change to society, and we also have a business plan. Now we need funding, and I am pretty much sure you have a funding plan as well.

6. Create a company

For a successful startup, we need people. So hire a team of talented people. It should be a mix of young and experienced. Young ones are full of energy and creativity. They are intelligent and knowledgeable. However, we need experienced ones to control their energy.

Remember, not only listen to experienced staff's advice but also listen to advice from any staff. Listen, analyse it and if it is good, then implement it.

Don’t think that you are the boss, so you know everything. They are the specialist in their work.

Great, you have cleared the fourth stage.

7. Launch a pilot project and validate your idea

Now the business started. It is advised first to start a pilot project. Go slow, and assess the result, analyse it and then move forward. It is crucial to validate your idea. It will give you the business's real insights, and based on this, you have to plan your next move.

8. Reach your target audience

Now you have a fantastic idea, great strategy, excellent business plan, but proper execution is necessary. You have to make sure that the right message should get delivered to the right customers. Customer’s don’t know about your products.

Create an effective marketing strategy and reach your target audience.

It is imperative, try not to spend money and resources on the wrong audience; you will not get the best results as expected. Reach your targetted audience and inform them about your product.

9. Research and Development

Despite having a perfect business plan, things will not go as per the plan. Analyse how the business is going on. It is better to do R&D simultaneously.

10. Customers Feedback

If you want to succeed in your business, then customer feedback is essential. Our startup idea was great, and the people around us support us; thus, we start our business. However, the actual movie will begin once the customer starts using your product, and they will give you genuine feedback. Be strong enough to accept negative feedback. Negative feedbacks are far better than positives because there is room for improvement. Start working on it and double-check with the same customer. It will build customer’s trust with your product which is most important for long term goal. In some cases, the feedbacks are an excellent eye-opener; it will tell you when to stop or find another way.

Congratulations… 👏👏👏

Wait… Wait… Wait

Don’t you want a successful long-term business? If yes, then there are few points to avoid, which can help you in a successful long-term business

Ten tips — What not to do for a successful startup.

1. Don’t get fascinated with others

Don’t just get fascinated with others and become a part of something you never wanted to do. There are so many things outside, which is good, appealing, generating a lot of revenue, but you need to think that is it your thing of interest?

2. Picking the wrong business.

Your goal should not be to make money. Great successful entrepreneurs always wanted a positive change. How do you make things easy?

Yes, money is essential, but if you want to succeed in your startup, think about the right product, problem, and solution; money will automatically follow you.

3. Spending too much time to make a plan

You will never have the perfect plan until you start. If you have a perfect plan, then when you execute, it will not go in a planned direction. You have to make changes according to the requirement or challenges you are going to face. So don’t spend so much time making a perfect plan. When you are confident enough, then start it.

4. Don’t do everything alone

Don’t try to think of doing everything by yourself. Don’t waste your energy doing simple stuff. Try to save your energy for the development of the startup. Hire a volunteer or intern. When you do basic things by yourself, you will waste your significant time. Value your time; otherwise, it will reduce your energy, creativity, and productivity to enhance the startup.

5. Value your money and spend wisely

Don’t worry; this one will not conflict with the above point. Many people think that it needs lots of money. You do not need an office, car, website, e.t.c. Stop spending a lot of money until you are making money.

Spend money wisely. Again, value and respect your time. Spend money to ease the work but not for the luxury. Once you start gaining profits, you paid all loans and bills, and you saved for the business and your savings. Now the time is for luxury.

6. Don’t celebrate success too early

When you start seeing the profits, please don't get excited; first, analyse it. Check if this profit is actually coming according to the business plan? If yes, then you are on the right track. If not, then it is just a bonus for your business. Wait till you get results as per the plan. Then we can say that the plan and strategies are working.

7. Don’t jump on the startup

Understand the right time to jump full time to your startup. If you quit your full-time job when nothing started, it is wrong. And if you started your business but still didn’t quit your full-time job for extra cash, it is risky. Value your time.

8. Don’t compromise in the Quality

Don’t compromise quality. If you consistently maintain product quality, the business image will undoubtedly be as you have planned. Make quality your best friend and never compromise with your friend.

9. Do not disrespect your instinct

It is imperative to respect your strong instinct. What worst will happen? You will fall. But this fall will definitely be going to help you, encourage you, and motivates you. Real-life lessons are far better than any other lessons.

Do not regret any mistake. Learn from your mistakes.

It is completely OK to make mistakes every day, but, if you repeat the same mistake then it is wrong.

Remember, sometimes your decision based on your instincts leads to a big success you imagined before deciding. So, believe in your instincts.

10. Do not copy others journey

It is not necessary to copy others journey to be successful same as others. When you start working, you will come to know the real challenges, no matter how much you have researched others, but still you ganna face new challenges. So be prepared for that mentally, physically, emotionally and financially.

Do not copy others journey, but definitely follow others journey and learn from others mistakes as well.

If you want to be successful and grow an empire constantly, update yourself with the market's current trend. Study the market regularly. Take care of your customer needs.

Final Tip

* Just chill and relax.

* Don’t stress too much.

* Believe in yourself.