How to Start a Startup-Tips to Launch a Successful Business

by | Nov 23, 2019 | Digital Marketing

10 Min Read. |

There has been no other time in history when launching your own venture has been so easy. This is perhaps the reason we are seeing more start-ups crop up every year and even witnessing their successful survival past their birth year. In this article, we will discuss how to start a startup and how to run your business in such a way that it not only survives but thrives in the coming years.

As per the reports of Guidant Financial-

Around 80% of small business start-ups reported profits in the year 2018. Statista suggests that ByteDance (maker of Toutiao) is rated as the highly valued Startup Company in the world at $75 billion.

So, there is a startup boom around the world, but to ensure success, it is inevitable that you pay to heed to start a startup in a well organized and profit-driven manner.

You need to find out the products and services that are required in your target niche. The demand and supply gap is the key to the success of every business model be it offline or online business in India model.

According to a CB Insights report,

42% of Startups fail because they offer products or services that the market doesn’t need.

Therefore, it is important for you to know the right Startup business model with the best-suited product/service strategy that your target audiences are looking for.

Without further ado let’s jump right into the topic of how to start a Startup

How to Start a Startup Business: From Planning to Execution

1. Do Extensive Market Research

Before going to the process of how to start a Startup, you need to first check its viability in the real world.

While talking about startups, Paul Graham, an English-born computer scientist, venture capitalist, entrepreneur, author, and essayist says-

Image result for Paul Graham“You need three things to create a successful startup: to start with good people, to make something customers actually want, and to spend as little money as possible.”

For this, you need to conduct extensive market research.

Identify which problem your business is trying to solve. Once you lock in on the challenges that you are aiming to alleviate, see if there is at all a demand for tackling that challenge.

For this, you may want to conduct surveys of your target group or even consider personally talking to them.

If you find that there is a good degree of demand, proceed to research the degree of competition. Keep all these data with you since these will be required in the funding phase.

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2. Get a Business Partner

In this initial stage of how to start a startup ask yourself whether you can manage to do it all alone or you need to have a business partner.

If you decide to get a business partner, it is best to search for one before the funding stage or before you invest a huge sum in your business.

3. Incorporate Your Company

It is a major step that will decide the lifecycle of your startup. It will also decide what structure the company will have.

Incorporating a company means registering it as a legal entity. The incorporation process will transform the company into a Private Limited Company, Public Limited Company, Partnership, Joint Venture or others. This is an important step while getting to know how to start a startup.

4. File for Intellectual Property Rights

A vital point in launching your startup is getting intellectual property (IP) rights.

This stage is often ignored by some because of their lack of knowledge on how to start a startup. Before you start running your business with full steam it’s better to acquire IP rights.

During the filing stage, you will get to know if you at all have the right to start selling your products.

Applying for IP rights will make sure you are not copying any existing brand’s products and it will also safeguard your business against future competitors.

5. Do Branding of Your Business

Branding is another vital step which is non-skippable if you want to know how to start a startup that thrives. Branding starts with a company name but it is more than just giving a suitable name to your startup. It is the projection of your company’s image and giving it a definite identity. Choose a company name that you love.

While you are at it, also see if the name is suitable for future business diversification. Do not give limiting names like ‘Anna’s Makeup’, because in later years you may want to expand and sell clothes.

Also, consider buying your domain name to avoid its unavailability later.

6. Have a Business Plan in Place

Having a business plan is vital. It is necessary for present business operations and also for future projects. A business plan will guide you on every step on the way of running your business. It will help you to stay on track.

You will often be asked to share your business plan and model if you plan on getting investors. Get the data from your market research and start drafting a good business plan that covers every aspect of your business.

7. Get an Office

Initially, startup founders prefer to make their home as the office to save money, but if you want to grow out of your startup phase you need to have a proper office. Shared office spaces might be the first place to start.

Once getting an office space is completed consider searching for a mentor. If you are absolutely new to your industry, it is best to get some advice from an experienced person from time to time. A mentor’s wisdom can save you from learning the hard way.

8. Get the Capital

Raising funds is the most crucial aspect of launching a startup. Before you start raising funds, jot down how much funds you need and how much of it will need to come from the investors.

Also, be ready to have the math in place to tell the investors how the money will be used. Again, you will also need to tell them how they will benefit from investing in your startup Getting the capital is the hardest part for any startup, but you need to carry on your search for the right venture capital firms and angel investors.

These were some of the basics of how to start a startup. Now, let’s go in deeper with the context of India.

How to Start a Startup in India

How to Start a Startup in India

How to Start a Startup in India

India is a developing country that has huge potential for launching new businesses.

Many new start-ups are launched in India every year and the majority of them are getting success. This fact should reinforce your confidence to start your own venture.

We are compiling a few key steps that will guide you about how to start a Startup in India in the most adept fashion-

1. Registering a Startup in India

This is the first step to learning how to start a startup in India.

Registering a startup in India is not that complicated. However, before you proceed towards the registration process it is recommended to choose a company name.

Once you are ready, head over to www.startupindia.gov.in. Here, you will be asked a series of questions and will also be required to furnish some documents. When you have completed the steps you will be registered as a startup in India.

 2. Startup Funding in India

The second step to understanding how to start a startup in India is raising funds.

To raise funds you may choose either to go with loan or crowdfunding. Whichever you choose, having a solid business plan will be helpful. For both of these funding routes, you will need to show the potential of your business idea.

Do not depend solely on having an investor because initially, you may find it difficult to land one. If you find yourself in such a situation its best to have an excellent business plan and start its execution. When people see that your business is doing well, you can easily attract some investors.

Most importantly do not lose your passion and belief in your business idea. Investors mostly like to invest because of the person behind the business idea.

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3. Tips to be a Successful Indian Startup

This are very key steps of mastering how to start a startup in India.

Having a great business idea is good, but you still need to see if there is a gap that you can fill.

India is a fertile place for new business ideas. Therefore, the success rate of start-ups is promising here.

To ensure that your startup is a successful one, consider applying the following tips:

(i) Recognize if there is a demand that your product can satisfy.

(ii) Get the necessary education to get the right knowledge. Even though degrees do not guarantee success but they still will make the journey smooth.

(iii) Gather as much knowledge as you can about your industry, your competitors, and your customers. Knowledge will take you places and also avert mishaps

(iv) We can’t stress it enough how important it is to build relationships when you want to start your startup in India. Many times networking is the key to business success.

(v) Lastly, even though with a great business idea, product, and investors your startup may not take off if you fail to focus on marketing strategies.

How to Start a Startup Online

Ways to Make Money Online

Ways to Make Money Online

If you are wondering how to start a startup online then you need to know that it is not that difficult.

With the digital boom starting an online startup can be as rewarding as starting a physical business. Thousands of people, from seasoned entrepreneurs to new entrepreneurs have tasted success online.

If you look closely there are certain steps that improve the chances of online success. Below given steps of how to start a startup online will for sure help you in the process-

1. Find a Market First

This is the first step in mastering how to start a startup online. Because the online businesses that are successful made the decision of finding a market first rather than a product.

If you identify a market that has a need for something you can easily sell your product.

To find a market, you can do keyword research and visit online forums. Don’t forget to check out competitors’ websites.

2. Compelling Sales Copy

Having a compelling sales copy is one of the key steps of learning how to start a startup online. Your sales copy should touch the following points to serve your purpose.

(i) Have an attractive headline.

(ii) Convey what problem of customers your product is going to solve.

(iii) Add customer testimonials to increase your credibility

(iv) Discuss the product

(v) Provide them an offer

(vi) Create an urgency

(vii) Ask them to buy

3. A simple Design for the Website

It is again a very key step of learning how to start a startup business online.

First and foremost, the website must have a simple design with plain fonts used throughout. Do not distract your audience with too much design or videos. Navigation on the website must be made easy.

Customer-friendliness must be your top priority while building your website. If you want to sell products make it easy for your customers to buy, the buying process shouldn’t take more than 2 clicks.

4. Drive Quality Traffic

This one is again a very significant step to learn how to start a startup business online in which you can run paid and organic campaigns.

For driving quality traffic go for PPC advertising.

PPC Process

PPC Process

PPC campaigns will give immediate results and will enable you to recognize your best-converting keywords.

Once you identify the keywords that work best for you just use it all over your website.

5. Position Yourself as an Expert

While learning how to start a startup business, you need to know that positioning yourself as an industry expert comes with several advantages.

People want to learn from an expert and buy from an expert. For this, give away free valuable content to other websites. Don’t forget to include your website link in such content.

Answer people’s questions in online forums and submit your articles in the directories list. This will increase both your visibility and ranking.

6. Use Email Marketing

Aim to get your visitor’s email address by having an opt-in list.

Anyone who has provided their email address is a hot lead. Further, email marketing enables you to always stay in touch with your audience.

Go for email marketing because it is the most effective and at the same time is the cheapest way of marketing.

7. Focus on Upselling & Backend Selling

Leverage your existing customer list. About 36% of people who have bought from you will buy from you again. Therefore, always do upselling and back-end selling.

Loyalty points, offering complementary products, and showing related products on your ‘Thank You’ page will ensure more sales from your customers.

Download Detailed Curriculum and Get Complimentary access to Orientation Session

Date: Online   30th Sep (Wed)
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In Conclusion…

This was all about how to start a startup business like a pro.

If you have a great business idea, this is the time to realize it. Do not let the fear of failure translate into a lifelong regret. Take a chance and see if your business idea had it in it to make it big.

Opting for Digital Marketing Certification programs will help you learn and master how to start a startup online. It will also help you optimize the presence of your offline Startups on the web, so you can widen your reach and target more audiences.

Having any queries before starting your startup? feel free to ask us in the comments.

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