If you are reading these lines, then you are interested in startups. You want to turn your idea into a profitable business and figure out how to do it with minimal investment and maximum return.
When talking about startups, people think of super profitable companies that have earned their capital in a short period of time. Google, Facebook are considered the standard of success among entrepreneurs.
How to launch a startup correctly, what steps to take, how to find a good idea and successfully implement it, will be told by Ayrus Rohan, a guest expert of the PAPA HELP portal, a serial entrepreneur who has implemented several successful startups and a developer of innovative products.
What is Startup in simple words - definition, features and types
Startup is a young innovative business that, if successfully implemented, grows tens and hundreds of times faster than classic companies.
Previously, only science-intensive, technological organizations were referred to them. Now even stores (JINGDONG, Amazon) are called startups.
Innovation is the engine of startup success. It can be a sign of a product or service, the structure of the organization of the company, the way the product is sold. Investors choose such companies, focusing on rapid growth, scalability, minimum payback periods and innovativeness.
The main feature of a startup is the difficulty of predicting the results of work. The innovative component adds uncertainty and can take the company to the level of billions of turnover or not pay for itself even with large investments.
The structure and composition of such a company is dynamically changing according to the current needs of the project. Such a company is focused on rapid scalability due to a non-standard, modern approach.
Simply put, a startup can be called a “probe” of a business idea that is tested in a short time by a small number of employees.
Types of startups
Startups can be divided according to the scale of the project being implemented. Investors pay attention to this indicator.
Startups are divided into:
- local (regional);
- business within one country;
- planetary.
Startups are classified by the speed of making a profit.
Projects bring money to the owner:
- immediately or after a few months;
- after a long time (more than a year). An example is free computer applications. When the audience of users becomes significant, such a company is sold or brought to the IPO market and earn on the sale of shares;
- never. These are mission projects (UBER). For example, my Vision mobile application is not implemented for immediate profit. The investment in the project is greater than its profitability. Its goal is to unite all people with mobile phones into a single network for the exchange of resources, investment, development. The project itself will not bring money, but it will provide an opportunity to earn when using it.
Startups differ in the type of product and the features of its sale.
Allocate:
- aliens. These are goods or services unknown on the market, forms of sale of ordinary goods. Examples of such projects: spinners, social networks, file hosting;
- copies of successful startups. Ideas implemented in one of the countries find application on other continents. For example, VK followed in the footsteps of the famous Facebook startup;
- aggregators. These companies take the goods of one and sell them using the tools of another market. For example, AIRBNB was not the first to start renting out other people's apartments. But, using for this an Internet portal connecting tenants and tourists, he earned a multi-billion dollar fortune.
Examples of the best startups in the USA and Russia
Startups differ in products, growth rates, market share, and many other metrics.
The best of them stand out in the categories:
- Quick earnings with minimal investment. This group includes spinners, Pokemon GO. Scrub Daddy (sponge in the shape of a smiley face) raised 80 million dollars .
- Missions. These companies are changing the life of society. For example, Apple introduced computers into our lives, and civilization entered the era of the digital economy. Such startups become legends: Elon Musk, the Ford assembly line, the production of penicillin, Uber (drone taxis). These companies, having offered an innovative solution in their product, are changing the structure of states, employment of people, and economic models.
- A combination of quick money and changing the world. A successful example of good earnings and market change was the startup Airbnb. The company makes good money on booking accommodation. The transformation of the traveler accommodations market has occurred due to the shift of customers from standard hotels to unique accommodations. Now you can rent everything: from a castle in France to a hut with an air mattress. After the launch of Airbnb, apartments and hostels, rather than chain hotels, became the standard accommodation for travelers. The company has launched a trend of renting out even a single unique home. Now anyone can become a landlord, not just a hotel owner.
Most Russian startups successfully copy foreign counterparts. For example, a successful version of Facebook was released by Durov. It outperforms its predecessor in many ways, although it is similar to FB. The same can be said about Yandex.
In Russia, it is difficult to single out successful innovations. Vivid examples: Kalashnikov assault rifle, Kaspersky Lab. 3D Bioprinting Solutions (three-dimensional printing of human tissues), AstroDigital (quick search for information in applications and the Internet), an analogue of AIRBNB - Anchor.Travel (river and sea transport rental), Сardberry (an application containing discount cards) can be considered promising.
Several projects are of interest to specialists in narrow areas. For example, the Forest Watch system (detection of forest fires) is relevant for the Ministry of Emergency Situations, and EcoCat (reduces heating costs for industrial production) - for large plants.
In 2018, domestic startups achieved success in foreign markets with the attraction of foreign investment. With the help of the Grabr project, you can get goods from anywhere in the world.
Delivery of the purchase is carried out along the way by travelers who travel to the right part of the world for business or pleasure. Their commission is about 10-15%. The project has more than 1 million users. The developers of ExoAtlet medical exoskeletons also have good prospects.
How to launch your startup without a budget - the main stages of development
The stages of launching a startup do not depend on the amount of money at the start. A distinctive feature of starting a company without a budget will be the attraction of resources. Money is not needed to start a production: to set up a production line, print electronic circuits or bake bread. They become an intermediary between the startup and the necessary resources.
A feature of starting a company without financial investments is the direct access to resources. It seems like you can't get anything for free. But it's not.
Money is not superfluous, and an excess of resources is a common situation. Cars deliver goods around the city with a 20-40 percent load, production lines operate 60% of the working time, production waste can be a raw material for other goods, etc. You can pay not with money.
Resource owners may be interested in the idea of supporting a young entrepreneur or participating in an innovative project. For an enterprise whose waste becomes the raw material of your product, the payment will be free garbage collection. The rest of the project participants can be offered a share in the company or a percentage of the profits of the goods sold.
By agreeing on such conditions, you get production without investing funds. And as payment, you give out interest on a business or product that does not yet exist.
Example
Building a booth for street food. To start a street food trade, you will need: a bicycle, a booth, decorations, and ready-made food. The carpenter, the cook, the designer and the salesman get a percentage of the business and do their work without pay, against future profits. At the same time, the organizer of a startup does not spend money.
Therefore, the first rule of a startup: look for resources directly . It will take more time. What can be solved with money in a week can take a month without funds. Without material resources, a business is launched through exchange, as in a subsistence economy.
Despite the significant differences between different startups, they all go through the same stages of development. There are 6 main stages of growth.
Stage 1. We form an idea
The idea is born from a unique combination of several existing elements. It should not just be “cool”, but solve a specific problem of consumers, which they are now solving differently.
For example
If you do not want to hold a smartphone in your hands, but at the same time you want to watch videos, communicate via video calls in instant messengers, you can put your mobile on yourself or put it on the table.
Solving this problem, we created PIN-POD. And so that the phone does not run out of power at the most inopportune moment, they connected it to PowerBank.
Stage 2. We analyze the market and competitors
The product may not be unique.
To be successful, a business must outperform competitors in one of the following ways:
- Quality or comfort for the consumer.
- Speed (of production, delivery, provision of services).
- Kudos.
- Low price.
If the idea has one or more of these factors, then the product will find its consumer niche. Other parameters may be inferior to analogues.
So, having chosen prestige as a competitive advantage of a product, it is necessary to focus on a wealthy target audience (CA), which means that the product must be of high quality and expensive. If the business idea is aimed at selling an ultra-cheap product, then it is produced in the most minimal configuration that satisfies the client's request.
For example
In Kazan, a chain of cafes "Good Canteen" with very low prices has been opened. The average check for a full tasty lunch is from 100 to 170 rubles . The competitive advantages of the network are low price and decent quality of food. The dining room has the cheapest cutlery and crockery, minimalist interior, few staff (no waiters, only cooks and cashiers).
The target audience of the network is people with low income. Good Dining does not compete with Michelin-starred restaurants. At the same time, visitors line up, bringing profit to the owners.
Stage 3. Determine the target audience
At this stage, the definition of CA is carried out.
To succeed in business, you need to answer questions about the client:
- who is he;
- Where is he located;
- why he should buy our product;
- how to attract him.
The more you learn about your customers, the cheaper it will cost to attract them, and the sooner your project will start to make a profit.
Stage 4. We create a product
We form the product only after we understand that the business idea will be in demand on the market.
The prototype (test copy) can be very simple, even made from improvised materials, but must contain all the components of the final product. It may be far from ideal, but on its basis, the equipment and the necessary resources are tested. With it, you will see what difficulties can be encountered in mass production.
For example
If the final product is a cake with whipped cream, decorated with fresh fruits with an inscription, then its prototype is not biscuit cakes, but a cake with cream, fruits and an inscription.
So suppliers, design, manufacturing time, recipe and technology of all components of the final product without exception will be tested. If the inscription spreads, you can replace the icing with mastic or purchased chocolate letters. If not all cream whips well, choose the right brand of dairy products and the percentage of fat in it.
Recently, we launched a manual concrete mixer into production. When creating a prototype, they took an ordinary barrel, bent an aluminum pipe, which was nailed to this barrel, and rolled it.
Then we looked at what else needs to be improved. And this is what came out of it - a finished product that is in demand on the market!
Stage 5. We sell the product
The ideal start is to start selling by collecting pre-orders from customers. For this, you do not need to have a large batch of goods in stock. It is enough to take good photos of the prototype to start an advertising campaign.
Targeted online advertising aimed at the target audience will provide information about the real demand and cost of attracting a buyer in your market niche. If production can be established quickly, then customers will receive the paid goods. If the product is not released during the execution of the order, then you will simply return the money.
Important!
The advertising budget must be spent wisely. It needs to be divided into several directions, spending 500-1000 rubles for each . After testing, send the fixed assets to the sales channel from which more customers came and in which their conversion into a purchase was higher. This source will bring the maximum number of customers at the lowest price.
Pre-orders can pay for the release of the first batch of goods. In this case, the production of the product takes place simultaneously with its sale. The advantage of such financing is in saving on the interest of a bank loan.
And a significant disadvantage is that the price is set before the startup knows how much it costs to attract a buyer. That is, the first batch of goods can cause losses, although it is financed entirely by the buyers' money.
Therefore, you need to clearly define the cost of the product, consisting of: cost price , customer acquisition cost and your margin .
The resulting profit must be divided into 3 parts:
- Personal income.
- Product refinement.
- Increasing turnover.
This will allow you to maintain your potential and implement the project as successfully as possible.
Stage 6. Scale up
Initially, the increase in sales occurs in proportion to the increase in the advertising budget. Having spent 10,000 rubles on attracting customers and earning 100,000 rubles, you can expect that if you invest 20,000 in the same sales channel, 200,000 from the sale of goods will be credited to your account. But gradually the region's market is exhausted.
In this case, you can increase sales by:
- Increase in area coverage. The goods are sold in the city, then the district, the country, the world. When entering another market, you need to test the cost of attracting a client and take into account the cost of delivery and storage of goods.
- Introduction of an additional product (second lens or camera case).
- Cyclic type of sales (iPhone 4th, 5th ... Xr, etc.).
Important!
While successfully selling a product in one direction of marketing, you need to continue testing other options for attracting customers. This tactic helps to increase the number of buyers when the market changes.
If the product is produced in order to collect users and is provided to them for free (for example, a mobile application), then pre-orders are not collected. At the scaling stage, the goal is to increase the user base, with the help of which additional sales will then be made. In this case, investments are made not in sales, but in increasing the audience of subscribers.
Search for investments for a startup - 5 support options
If there is not enough time to launch a startup, you cannot do without financial investments. They greatly speed up the process from idea to profit.
Consider several options where you can get money to start a business.
Option 1. Get a loan from a bank
A bank loan is the most well-known source of financing. But the startup itself will not be able to get it. The bank receives income during the repayment of loans taken by customers with interest. Therefore, he issues loans only to those organizations that already have a stable income (more than 1 year).
A startup does not have such financial indicators that will convince the bank of its solvency. But the project organizer has a personal credit history, which makes it possible to issue a consumer loan.
As the purpose of receiving funds, the opening of innovative production does not need to be indicated. Bankers are very conservative and consider such investments extremely risky. Because of this, they refuse to borrow.
Suitable reasons for a bank to obtain a loan: repair or purchase of a car, purchase or improvement of housing, education, travel, repayment of other loans. If you can’t take a loan yourself, you can find a friend or relative who will arrange it for himself for a share in the business or at interest.
Consider the main offers in the lending market for amounts up to 300,000 rubles.
Tinkoff Bank offers to use the Tinkoff Platinum credit card to pay for purchases .
It's more convenient than taking out a loan. There is an interest-free period on the card up to 55 days , when buying in partner stores - up to 365. And if the reason for registration is the repayment of other loans, then up to 120 days. The maximum limit reaches 300,000 rubles .
At the same time, the bank returns up to 30% of cashback expenses in the form of points for paying for other purchases. The interest rate is calculated individually from 12% per annum. The advantage of the card is fast processing and courier delivery to the specified address. You don't need to go to the bank to apply.
Alfa-Bank issued a card "100 days without interest" with a limit of up to 500,000 rubles . You can not pay the loan for 100 days .
With a card, you can not only pay for purchases, but also withdraw cash up to 50,000 rubles per month . The bank does not charge a commission for cashing out this amount of credit. If you withdraw more money, then a commission percentage (3.9-5.9%) will be charged for an amount exceeding 50,000 rubles. No commission is charged for transferring to repay a loan in another bank.
The interest rate after the grace period is calculated for each client individually, from 11.99%.
The Ural Bank for Reconstruction and Development offers an extended grace period on a credit card "120 days without interest" with a credit limit of 30,000 to 300,000 rubles .
Cashback (1%) is credited on the amount of purchases. Withdrawal fee – 4.99%. The grace period is preserved when cashing out money and transferring them to another account. After the grace period, interest is charged (27.5-31).
Using credit cards at the initial stage of doing business is convenient for those entrepreneurs who need small amounts of money to buy materials. You can apply for several credit cards and roll over the debt.
Lifehack
By opening a card of the Ural Bank for Reconstruction and Development, you can buy the necessary materials and not pay interest for 120 days. Then pay off the debt with the help of Tinkoff Platinum. To do this, the bank increases the grace period up to 120 days.
The loan can be repaid by a free transfer from an Alfa-Bank card. Combining loan products will give you an amount of up to 300,000 rubles for 340 days without overpayments to the bank interest . And if you repeat the procedure, you can increase the interest-free period.
Option 2. Get money from the state
The state stimulates the opening of profitable organizations for the growth and development of the country's economy.
Before counting on public funds, you need to understand that such assistance:
- Temporary. The loan term is up to 3 years.
- Returnable. It is not necessary to pay only the funds allocated under the program of grants (incentives) and subsidies.
- Compensatory. For example, the rate for state microfinance programs for SMEs (small and medium-sized businesses) is from 6 to 7.75%.
Who can count on support
The main recipients of funds are small and medium-sized enterprises (SMEs). These include all companies, including start-ups, whose staff does not exceed 250 people, and the annual turnover is not more than 2 billion rubles .
These requirements are enshrined in FZ-209 .
The state helps only officially registered companies. To receive money, it is necessary to register an LLC, joint-stock company, individual entrepreneur, economic partnership, peasant (farmer) economy or agricultural consumer cooperative.
Read related articles: How to open an LLC and How to open an IP yourself
Which SME is not supported
Even when registering SMEs, the state does not finance some areas of activity.
Your startup will not receive financial support from the state if it works in the field of:
- gambling;
- excisable goods (TC RF Article 181);
- minerals (TC RF Art. 337);
- insurance or investment funds, including NPFs;
- lending or securities;
- pawnshops.
For example, if your startup product is an application for an online casino, then you will not be able to get government assistance for it.
The state does not allocate money to pay company taxes. If your startup has outstanding amounts in the Federal Tax Service, then it will not receive funds for development.
Types of state support:
- Grants and subsidies.
- Concessional lending.
Grants and subsidies
This is a gratuitous encouragement (subsidizing) of new or existing businesses. In this way, the state helps only socially oriented non-profit organizations.
The Presidential Grants Fund issues up to 500,000 rubles to NGOs operating for more than 6 months , and more than 1 million rubles for those older than a year .
Businesses (LLCs, sole proprietorships, JSCs) will not be able to receive money from the Presidential Grants Fund. Commercial organizations can count on regional specialized programs (social entrepreneurship, agricultural development) of the Authorized Executive Body. Amounts vary by region.
For example
In Tatarstan, in 2019, the Novice Farmer nomination received funding in the amount of 250 million rubles . In other regions of the Russian Federation, it can start from 70,000 rubles .
The advantage of grants is their gratuitousness . You have to return the money only when the entrepreneur cannot provide documents on the core spending of funds.
Each organization providing grants requires its own list of documents.
Startup exchanges
You can get money for a startup on online exchanges. These are bulletin boards where startups and investors post their proposals.
- Crowdfunding exchanges finance projects by attracting funds from many people. Such "pooling" financing reduces the risks of investors, and they are more willing to invest in projects. The boomstarter and planeta platforms are suitable for finding funding.
Boomstarter raises funds to finance business projects (music, video, gaming, publishing, tourism) in 20 categories.
When placing a project, a startupper specifies the minimum amount that needs to be raised within the specified time. If a smaller amount of money is collected, then they are returned to the sponsors.
The startup retains copyright, but project information remains publicly available. The site recommends projects for coverage in the media and bloggers.
Sending boomstarter information about a startup is paid, but targeted. She attracts sponsors to the project. The company holds projects and meetings of startups with investors, provides projects with the opportunity to speak to an interested audience.
Important!
Withdrawal of funds from the site is carried out within 30 days from the date of closing the fundraising. It is also necessary to pay a 3.5% fee to payment systems and 13% personal income tax. And the very placement of the project on the site costs 5,000 rubles.
Planeta is the first Russian crowdfunding platform. It focuses on creative projects (theater, journalism, design, film production).
The company organized the Crowdfunding School. In face-to-face or video classes, she teaches startups how to raise funds for a project. A shop has been opened on the portal, where project goods are sold. It operates a charity fundraising program for social organizations.
The main video of your project can be posted directly from YouTube. This makes it possible to simultaneously promote your product and raise funds. The portal has convenient statistics. It stores the addresses of all sponsors and the amount of contributions for each lot.
Important!
Withdrawal of funds after collection occurs within 7 days. For placing a project, the portal does not take a commission, but takes 10% of the funds raised. Therefore, the project receives a net 77% after deducting personal income tax and collecting the site.
Crowdfunding sites raise funds for various needs, receiving as a reward not a financial benefit, but a name in the credits, a jar of jam or a piece of cheese, small prizes, priority access to the finished product.
- Crowdinvesting attracts investors from business, production, startups. As a reward, such portals use a percentage of the profit of the sale of the product, a percentage in the business, etc.
If you decide to use a crowdfunding platform, you should take a closer look at Kickstarter and Indiegogo. These American business fundraising portals have funded hundreds of startups.
Kickstarter raises funds in Fixed mode (all or nothing). Only a citizen of several countries (USA, Canada, Australia, etc.) can register on the site. The currency of the fundraiser is the same as the currency of the country of which the applicant is a citizen.
If you are not a citizen of a Kickstarter country, the brokerage will cost ,000 and 1-3% of the fundraising campaign. The commission of the electronic platform is 5% of the funds raised. Money is withdrawn from the portal up to 14 days minus 3% + .2 per pledge.
Moderation of 60% is automatic. The main requirement of the site is a well-designed campaign, the product of which can be sold. Only photographs of real devices or their prototypes are accepted. Computer drawings are prohibited.
Photos and videos are uploaded to the platform. After the end of the campaign, it is impossible to edit the description of the project or product.
Important!
The platform is engaged only in raising funds for business projects. Charity, studies, gifts as an occasion for fundraising are not allowed.
Indiegogo provides an account to a resident of any country over 18 years old. You do not need to verify your identity and bank account, but you must link Paypal to your account before starting the campaign. Fundraising can take place in the Fixed or Flexible mode (how much is collected).
The latter option worsens the reputation of the product, but allows you to get money for it, even if the goal is not achieved. The site commission is 5%, and the withdrawal fee is 3% + .3 per pledge.
The money is credited to the account of the organizer of the fundraiser within 14 days.
Moderation is not carried out. Curators of the direction help to solve issues with the design, project management, withdrawal of funds and other difficulties. Videos can be hosted from YouTube and Vimeo while promoting the product and raising funds for its release. The description can be edited without time limits.
The portal has charitable projects, and business campaigns are accompanied by powerful analytics, to which you can add Google Analytics and Facebook marketing campaign statistics.
Kickstarter and Indiegogo are constantly competing to attract successful startups and attract a large number of investors. But to place an account of your own project on them, you need to work hard, translating materials and adapting videos.
Option 4. Attract a private investor
The issue of attracting money to the project can be solved with the help of a private investor. People who are ready to invest in projects can meet a startup even in their native region.
To do this, you need to make a list of the richest people in the city and those who actively invest in projects in your direction.
Startups are also of interest to major executives, owners of large city enterprises or networks that have branches in your region. After that, you need to look for an opportunity to meet with these people and tell them about the startup.
They can be found:
- at specialized exhibitions and conferences;
- in the commission of competitions (grants, subsidies);
- at meetings and forums where industry leaders are invited;
- through relatives, acquaintances or employees of their organizations;
- pages on social networks.
Before the meeting, you should read an interview with a potential investor, learn about his priorities and value systems. Having studied the information, it is necessary to make a presentation of a startup, focusing on aspects that are important for this person.
Important!
Not everything that a potential investor voiced in an interview is true. Be prepared to change the presentation after his comments.
Often investors look not at the product, but at the team that generates it. They need to like people. This can be done by showing that his and your value systems are close.
It is advisable to bring to the meeting not only a presentation, but also a product or prototype that you can see, feel and see its benefits for the consumer. This will help to convince the investor of the ability not only to invent, but to implement the project.
An investor can become a business angel: not only invest in a startup, but also become a senior project partner (mentor, promotion assistant, advisor).
There are professional business angels. But any investor can become a senior partner and help in promotion if he is interested in the idea. Having met with a potential donor of the project, it will not immediately become clear who he will become for a startup: an investor or a business angel.
Option 5. Relatives and acquaintances
Not only businessmen can become investors. The circle of your communication has accumulations, cars inherited from the older generation of the apartment.
If they believe in your idea, they will invest in the project. Your reputation and charisma will help you continue working together in a startup even during periods of failure and entering the market (complete lack of money).
Reach out to your loved ones and you'll be surprised how much they can do for you.
Thinking of how to make the most of your software development? Order the Discovery Phase to consider all key aspects and ensure your project's success!
Startup Ideas - Niche Finding Tips
The ideal idea for a startup is born out of pain, the problem of some group of people.
For students
Students are active people with little experience. To select a project idea, it is better for them to start not from their own skills, but from their own problems that they want to solve.
The algorithm of actions is as follows:
- Choose what you want to change in your life.
- Find a way to solve the problem.
- Offer it for money to other students.
Make a product that solves a real problem and it will "shoot".
From the reluctance to waste time on the road to the tutor, online education was born. Out of boredom in ordinary lessons - video training and mastering knowledge through gaming applications.
So I created my film school. It combined practice, friendly contact with the participants and a sense of the importance of what they were doing. Such alternative teaching solved the problem of boredom for students and became my multi-million dollar business.
For girls
The strength of the girls is the creation of atmospheric projects. They are the best franchisees in areas where communication, atmosphere, and mood are important.
Business is an extension of the entrepreneur. Cute girls successfully sell cute products. Anti-cafes, unusual dessert shops, organizing concerts and meetings, any projects in which communication is especially important will suit most women.
In the Internet
For projects on the Internet, it is important to achieve the desired result with the most minimal investment, using the minimum product package.
An example is WhatsApp. Messenger and nothing more. It just forwards messages, and that's enough for the user.
Such a simple product should solve a narrow problem in 2 clicks, in one touch, in one input. Such an idea is easy to come up with and implement with the help of one programmer. At the same time, you don’t lose a lot of money in case of failure, but you can earn a lot, because everything is clear to the client and investor both in idea and in use.
The personal account of the bank is simple and intuitive. Its use has saved a lot of time and nerves for customers who pay bills and receive statements from home. The execution of a dating site is even easier: you scroll through the photos, put likes, if you like a person, you go to the chat.
Tips for beginners from a startup with experience
Georgy Semenovich Shpagin, the creator of the rifle machine gun, said that " to make it difficult is very simple , but to make it simple is very difficult ." Tips for startups are very simple. They are difficult to implement in a project, but by implementing these simple things, you can achieve a breakthrough in business.
Tip 1. Take the best from competitors
Start your project with a competitor analysis. This eliminates the illusion that your product is unique and allows you to make it the best on the market.
Some pizza manufacturers sell it via the Internet, others show the client a video broadcast showing how your order is being prepared, others give a napkin to the order, others cut it into pieces before sending it, others do not stick part of the adhesive tape that closes the package. All together - Dodo Pizza. Success is in the little things.
Tip 2: Keep Your Product Simple
You will have time to occupy your niche, while simultaneously bringing the product to perfection. Enthusiasm is not endless, and on it you will have time to buy time from competitors.
Tip 3: Do Small Tasks
The project is huge, and it is impossible to do it quickly. To enjoy every day of work - divide the launch of a startup into small tasks, reward yourself for completing them.
The rule "eat the elephant in pieces" is very suitable here.
Tip 4. Look for partners
It is impossible to make a good product alone, because a startup requires expert knowledge and skills in design, implementation, promotion and much more. It is impossible to be a super-specialist in everything, and there is not enough time for this.
Don't be greedy, give away interest from a business that doesn't exist yet to make it cool. Better to have 30% of Google than 100% of nothing!
Tip 5. Motivate the team
Most startups don't make it to the top because the team is running out of steam. Great products with a great idea are no longer interesting to the developers themselves.
Therefore, by encouraging and motivating the team to take small steps towards a big goal every day, you can reach heights in business. To do this, you can use intermediate awards (for the left landing gear, for the first porthole, for the propeller to the aircraft).
Tip 6. Work on the bugs
It's not scary to make a mistake. Everyone stumbles on the way to the top, there is no need to grieve about it. Fixing bugs makes your product perfect, and a team that has come out of crises with a friendly attitude - unsinkable.
Important Findings
American anthropologist Margaret Mead said: “Never doubt that a small group of thoughtful and selfless people can change the world. In fact, they are the only ones who bring about these changes.”
This is true for startups. The opinion of the crowd is subject to fashion, and the world is changed by small initiative groups. With enthusiasm, perseverance, and correcting mistakes correctly, you can change the world.
Leave doubts, do the work day after day, correct mistakes and you will succeed!