InvestorQ : Can you give me some good ideas to ensure that my start-up launches faster and a lot more prospects of being a viable business model?
vidhya Laxmi made post

Can you give me some good ideas to ensure that my start-up launches faster and a lot more prospects of being a viable business model?

Crowny Pinto answered.
1 year ago

Most entrepreneurs struggle to scale their business because they just do not know how to take their business from point A to B. In between is tough and that is where strategy comes in handy. One of the best ways to build your business is to take the idea to market as soon as possible. Here are some tips on how you can launch your start-up faster.

· Planning is great but the key is that you must just start. It is more important to start than to start right. Think about it. If you don’t start your business, nothing will happen. Whatever it is that’s keeping you from launching is the very thing you either need to ignore or tackle head-on. Here are the steps that you can effectively take; Write the first line of code, Register the domain, Sketch the product, Design the prototype and take it to market. Learn along the way. If you wait for the perfect product, you will keep waiting. Go ahead and do the first thing that needs to be done.

· Be ready to sell; and sell anything. There are entrepreneurs who know exactly what they want to sell. There are other entrepreneurs who have no idea what they’re going to sell. They just want to sell something. Sell anything. From Sam Walton to Jeff Bezos, world’s greatest entrepreneurs aren’t selling anything new. They are selling it different or better. Ted Turner sold television broadcasting and advertising; Howard Schultz sold coffee; Amazon sold books; Sunil Mittal sold telephone connections and L’Oreal sold hope. Entrepreneurs aren’t always innovators. You can take someone else’s product and sell it. Richard Branson, after all, launched Virgin Airlines in desperation.

· Ask someone for advice, seek guidance and also seek guidance on execution. For legal matters you can ask an attorney. For experiences in the businesses ask veteran businessmen etc. When an issue arises, and you don’t have the answer, find someone who does. Your business needs more help, knowledge and professional skills than you have time for. Get people to work for you.

· Try and hire remote workers. If you want to find the best and most affordable talent, you may not find it next door. Be willing to hire remote workers to get great work done. That is the new model of the workplace. You don’t need all your employees to come into your office every day. That model is long gone; or at least it is going.

· Begin by hiring contract workers. Becoming an employer carries with it a lot of baggage. It may, in fact, form such a barrier that it slows down the process of your start-up. Besides, few people will be willing to take the plunge to become the employee of a tenuous start-up. Instead of hiring employees, hire on a contract basis. The point is you need to find a way to get the talent to provide their services. Don’t let the specific arrangement get in the way of getting stuff done.

· Find a cofounder. Even Buffett would have found it hard without Charlie Munger or Jobs without Wozniak. Starting a business takes more than just hard work and passion. It normally takes the inspiration and skills of a cofounder. VCs are more likely to invest in a start-up that has a founding team, not a founding individual. Even having three cofounders is absolutely fine. That is because, co-founders can provide the skills you lack and take you further than you ever expected you’d go.

· Work with someone who pushes you to the extreme. One of the reasons why Steve Jobs was able to grow Apple into one of the world’s most innovative and valuable brands was because he pushed people. Here’s how he described his management approach. My job is to not be easy on people or make life simple for them. My job is to make them better, even if it means putting unreasonable expectations on them. As Jobs said, “By expecting them to do great things, you can get them to do great things."

· Don't focus on money. Don't overly worry about where an income will come from. A good product/service will always find a way to make money. This is true. A myopic focus on money can pull your business off track. Whether it’s funding, capital, business loans or the perfect pricing model, back off and let things evolve. Growth doesn’t always need money. You can buy growth by just pushing your resources to deliver the best.

· Invest in marketing the product or idea. Spend time and money on marketing. Marketing is one of the best things that you can do for your business. When you market your product or service, you are getting it in front of the people who will actually buy it. Marketing is not a waste of time. It’s one of the best early investments that you can make in your business. It is an investment not an expense so make the most of your investment in the long run.

· Never lost an opportunity to talk to your potential customers. A start-up does not exist in the entrepreneur’s mind alone. A start-up exists in the market and has to satisfy some unique need of the customers and the potential customers.

If there will be people buying or using your product, you need to learn all you can about these people, from these people and for these people. Your business will live or die based on their receptivity to the product or service. That is where the opportunities lie for you and your business.