Launching a startup correctly during the vital first phases can mean the difference between success and failure. Failure to launch will have a devastating impact on your business and personal growth. So, from the business plan to funding, here are a few critical steps to take.
Get Your Name Out There
You can’t launch anything without people knowing who you are and what you stand for. Investopedia claims that around 90% of startups fail, and there are many common reasons for this. A mission, goals and the right service partners are immensely important to get started. From hiring the right people to small business advertising, it all helps establish a critical foundation from which to work. It also helps you, as well as others, understand the business.
Develop a Solid Business Plan
Of course, it’s pretty rare that a business stays afloat and achieves success without an actual plan. A business plan is vital for various reasons. Any investors, including a bank, will want to see what they are investing in. They would also like to see actual figures and projections. Most won’t take your word for it and give you money because the ideas are good! There are business plan templates you can use. But use these as a guide only, and add your own unique flair to it.
Launching a Startup by Networking
Networking is as old as business itself. Many successful people had to schmooze a little to get where they are today! It’s all part of the game! As uninspired as it may seem to rub shoulders with others, Forbes claims that around 78% of startups place networking as essential for turning a business around. There are good reasons for this. Networking helps you find investors, staff members, and even suppliers and partners who are willing to give you a friendly discount.
Secure the Necessary Funding
Can you really start a business with no money? There are many eBooks on the web that claim you can purchase them for a £15 purchase, of course! Of course, it might be possible in rare cases, but no, not really. Especially if you are starting up in a competitive sector such as tech. You will need money and a lot of it to get by. Investment can be secured based on your plan. Investors love a good story with passion, good use of their time and all the facts and figures.
Establish an Online Presence
It’s pretty hard to find a modern company with no online presence. But they do exist. Mostly, it’s small businesses, though. startupmagazine.co.uk claims that around 22% of small businesses don’t have any online presence. This includes blogs, social media and PPC or SEO strategies. For this reason alone, you already have an advantage if you double down on carving out a corner of the web. A great blog is an opportunity to demonstrate the product and yourself.
Summary
Getting your name out there with ads and other methods is vital to launching a startup. Networking is also a crucial part of the game. Do we really need to mention an online presence?
