A startup is an action or process of setting something in motion. According to business terminology – A newly established business. This is just a definition of word startup; however, every individual has their own definition of a startup.
An entrepreneur can dream high to take the startup to the next level but it required proper planning.
we will see now…
What is a startup actually? How do people see a startup from the business point of view?
A startup is a new business setup with limited resources where risk is always in the role because of the limitation. The limitation might be from financial or experience point of view. Whatever would be the reason, startup always comes with the package of risk. But from the business point of view if you are not taking risk is also a big risk – am I right?
I am always active on Quora. Most of the question asked from requester regarding startup idea, Very rare people asking for execution of start business plan. Now you should understand that the business idea and business plans are two different things. Business ideas can shape your dream but it doesn’t mean that you will successfully execute the business idea. If you have a business idea then you must have to design a business plan. Because without a business plan you unable to start a foolproof startup.
Importance of start-ups for entrepreneurs
A startup is one of the best supportive ways to balance business. A startup is not only a business module but it also helps to boost our economy one in another way. Most of the startup comes up with innovative ideas and technological innovation. Startup involves handling new technology which is usually located at the highest end of the value addition chain.
If you want to do something different and other business is not falling into your innovative ideas then starting with the team you can grow very easily. Startup may have the potential to change the market heavily.
Entrepreneurs need to understand the importance of startup which actually boost the business at low risk. If you have a business plan with a creative and energetic team that has the excitement of changing the market, then the startup is for you.
Now, we will go step by step to understand how should we design everything. I mean- I will explain each and everything from business idea to business plan and its execution fundamental …
Let’s keep it as a question vise…
What are business ideas? And how should we shape our business ideas?
Startup ideas could be anything that you can imagine but it should be executable. Let me give you more clarification. Let say you have a business to start. such as selling ‘cow milk online’. Now, this could be a solid idea. But you should have a business plan. Otherwise, no one will take an interest in your startup. Selling milk online is just an idea but how you can sell with quality and deliver safely to the customer and maintain the continuation is the business plan. It means a business idea can give you hint that you should go for. But without business plan business idea is nothing. I will explain some basic fundamental of the business plan. So keep reading…
If you have a thousand of the business idea then it’s great! but you should have the solid business plan in order to execute.
How to shape a business idea as a startup?
Think... You have multimillion business ideas but how will you convince someone that your startup will work. How anyone can believe you that your business will work. If you’re starting your own with your own saving then you can take a chance but I will suggest you don’t do that. Now if you are looking for an investor to invest money in your dream then you must have to follow these rules.
If you have an idea then do some research.check, is that anyone doing the same that you are planning to do?
Now see what they are doing. so you may add some more ideas, which will help when you will design a business plan. If no one is doing it mean you will have the monopoly which is a good sign of business. Your chances will be higher to success if you execute well.
When you are researching your business ideas keep a notebook or make an excel sheet on your computer in order to track everything. Whenever you get something important, kindly make a note of it.
Once you sure that your business idea has some weight then move to next step.
Let’s take look at this infographic image:-
Note- This infographic is not a business module it just a concept that you can consider. Most of the newcomer unable to understand the business funnel. This is just an idea how to structure your startup. you may also add more details.
First of all, let me explain what is business plan however after a lot of explanation you might get an idea of the business plan. But let be brief you little more.
A business plan is a proper structure to set up a business on the idle requirement. Business plan specially designed to get the goal without any fail though risk always there in business but if you have a business plan then you can minimize the risk… It may also contain background information about the organization or team attempting to reach those goals.
Business plans may target changes in perception and branding by the customer, client, taxpayer, or larger community. When the existing business is to assume a major change or when planning a new venture, a 3 to 5-year business plan is required since investors will look for their investment return in that timeframe.
How to design a business plan?
Once you have an idea in your hand. start working on it. As I said above to keep a track of everything. Everything means everything. Anything which you think you should note it down do it then and there. Don’t wait to do it later on.
Now from day 1 make a list. What you will do next few months. Make a clear list so you will not be going to distract anywhere. Once you have a list handy do it one by one. If you have a team then assign the task according to their eligibility.
Business Plan Presentation: Will take you to your Investor.
Once everything is done, prepare a presentation on your startup. Your presentation should be clear your vision and ideas which will work to start a startup. If you starting your own then its fine you may apply for the loan through this business plan if you have a business plan then the bank will consider you to lend you the money. That’s great news, right?
Now if think that you have an awesome business plan where anyone can get convince then you have good news. There are startup investor who can invest on your business idea if you have a solid business plan. Now a day government also taking an interest to invest money to a newcomer who has innovative business ideas. The best part of this outside investor is your liabilities will be low.
There are numbers of investor out there. They are looking for innovative business ideas, so they can invest but they only invest on those whose business can run without fail. I will explain in detail about startup funding and how does it work? On next article…
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Here few startup funding companies online who can give you a wing to your dream.
An investor can be varied according to the country. So best you can find it on Google. If you struggling to find out the best startup in your country, please do let me in the comment box I will more than happy to help you out.
Here is few startup fundraisers:-
These sites are not funding on every industry. Every individual site invest have their own industry interest. you may check whether they can entertain your startup idea or not.