If you’re a person with ideas and dreams of becoming an Entrepreneur, then here we’re presenting some steps on how to start your business.
1) Write it down
While you dream of starting a business, Pen down all your thoughts and ideas that you go through. So you can remember those important ideas and thoughts in initial stage of your startup.
2) See what is missing in the world
You must find out what people are missing out from their life as for example, taxi rides weren’t that comfortable before UBER & OLA. Go through the places and try to realize what people need the most in their life that you can provide them with.
If the product doesn’t meet the requirements of customers, that’s the biggest reason of a product failure. For suppose, if you’re buying any product for yourself. You know it works but needs improvement. The same goes with your product, you need to upgrade your product.
4) Register your business and Split equity
Find a co-founder that signs with you as a partner and Register your business with the govt. Taxable system. Always give your co-founder equity as this will make them work hard for the company.
By the time, after final patenting of the product. Launch the product at the right time after successful quality checks. Better interfaces and optimization can be done by upgrading it afterwards.
6) Follow up with users
Are users coming back? Find out why they are not.
If a startup grows by 5% a month, then within a year you’ll get over million of customers. You can be IPO, or stay private by convincing your investors about the upcoming products and services.