everything about startup

startup abstract

 A startup or start-up is a company or project begun by an entrepreneur to seek, develop, and validate a scalable Economic_model.While entrepreneurship refers to all new businesses, including self-employment and businesses that never intend to become registered, startups refer to new businesses that intend to grow large beyond the solo founder.Startups face high uncertainty and have high rates of failure, but a minority of them do go on to be successful and influential.Some startups become unicorns: privately held startup companies valued at over US$1 billion.

startup hestory

 Before taking a deep dive into startup entrepreneurship, it makes sense to discuss how the whole startup world originated. If we think of a startup as a highly scalable tech company aiming for rapid growth we can start to look for the first startup in history.

For example, Edison General Electric company (now GE), could be thought of as one of the first startups. The growth and difficult path to victory for that company is similar to a typical startup journey. Many companies like Nokia could also be thought of as a startup in their early days.

However, none of these companies could be considered a startup in their current state as they are now large corporations. 

Technology companies in the 2000s

After the dot.com bubble, the startup community learned from it, moved on, and even accelerated their speed. If we look at the American major technology companies like Facebook, Uber, Airbnb, Twitter, LinkedIn, Tesla or Dropbox, none of them existed 20 years ago – even Google was founded only 21 years ago.startup success stories 

The internet and other modern technologies have created huge business opportunities and the possibility to grow companies rapidly. All of the above-mentioned companies have grown into billion-dollar valuations in just a few years.

These companies have had a fundamental impact on our world. The world's largest media company, Facebook, has no content creators on their payroll. The world's largest hotel chain, Airbnb, owns no hotels. The world’s largest taxi company, Uber, don’t own a single taxi. And so forth. Technology companies have shaken many industries and captured markets from traditional companies.

types of startup

1. The lifestyle startup.
2. Small businesses.
3. Silicon Valley-type startups.
4. Startups designed to be quickly sold, flipped.
5. large company startup
6. social startup
   

1.The Lifestyle Startup.

On the California coast where I live, we see lifestyle entrepreneurs like surfers and divers who own small surf or dive shop or teach surfing and diving lessons to pay the bills so they can surf and dive some more.

2.Small businesses.

They work as hard as any Silicon Valley entrepreneur. They hire local employees or family. Most are barely profitable. Small business entrepreneurship is not designed for scale, the owners want to own their own business and “feed the family.” ... But in sheer numbers, they are infinitely more representative of “entrepreneurship” than entrepreneurs in other categories—and their enterprises create local jobs.

3.Silicon Valley-type startups.

Scalable startups tend to group together in innovation clusters (Silicon Valley, Shanghai, New York, Boston, Israel, etc.). They make up a small percentage of the six types of startups, but because of the outsize returns, attract all the risk capital (and press).

4.Startups designed to be quickly sold, flipped.

Their goal is not to build a billion dollar business, but to be sold to a larger company for $5-$50M.

5.Large company startups.

Changes in customer tastes, new technologies, legislation, new competitors, etc., can create pressure for more disruptive innovation—requiring large companies to create entirely new products sold to new customers in new markets (i.e. Google and Android).

6.Social startups

..unlike scalable startups, their goal is to make the world a better place, not to take market share or to create to wealth for the founders.

how to create a startup

Do you already have some ideas in mind? If so, you’ve hit the right link! But before you move forward, there’s something you need to know. Launching your own business is a long-term process and it won’t happen overnight.

 you need to some step for make own  startup: 

1.Problem
2.Ideation and Solution/ Validation
3.Find your Dream Team
4.Customer Persona & Customer Validation
5.Prototype & Validation
6.Marketing Plan & Building a Landing Page
7.Business and Revenue Model
8.Funding

1.problem

Finding a problem to solve can happen in different ways. Awareness of a problem can arise from a new experience or a passion that you already have. Emma Bridgewater, Founder of one of the biggest pottery factories in the UK, found her problem while on the hunt for a birthday gift for her mother.  

Back in 1984, she wanted to give her mother a set of cups and saucers that would say, “I love you. I miss you.” She looked in numerous china shops and realized that all the available products were nothing like what she wanted. 

This was the moment Emma realized that she could start creating what she had imagined finding in the china shops: A wonderful array of colourful, mismatched pottery. 

We all have situations like Emma’s. These arise when we aren’t satisfied with the provided solutions and come up with our own ideas. During these experiences, you can obtain insight into specific problems and how to solve them. When this happens, ask yourself:

• Is this a problem or a passion that many    others have?

• Is this problem serious enough to       warrant solving?

• How often does the problem occur?

• Who are the customers with this     problem?

2. Ideation and Solution Validation

Once you have a problem in mind, you need to find a solution. It’s time for ideation.

According to Manuel Tanger, Head of Open Innovation at Beta-i, ideation is all about having numerous ideas. It’s refining solutions, filtering out the “not-so-great” from the reasonable, and then testing them. “Once you have reasonable ideas, you need to take them to the real world, ask people what they think of your ideas, and refine them.”

Finding that perfect problem-solution fit demands an understanding of the market and the customer alike. You need to do extensive research on the problem to understand the market size and opportunities. This will help you to develop a competitive advantage and create a startup that will succeed. 

3.Find your Dream Team

If you have begun the startup process by yourself, it’s time to find a team. 

Identify your most powerful skills before starting your talent hunting. A great startup team needs the following roles:

CEO: Leads the team with vision, respect, and responsibility. 

CBO: Supports the growth and creates value by innovating sound business plans

CMO: Introduces your solution to the world

CTO: Manages tech requirements

CDO: Manages and coordinates your startup’s design initiatives

You want people who will embrace and boost the project. Don’t search for skill alone. In order to create a startup, the entire team will need to know how to adapt and work on different roles when necessary.  A good team fit is also extremely important. Look for people with whom you enjoy working, especially in the early stages.  

4. Customer Persona & Customer Validation

To reach your customers, you’ll need to know who they are. Defining a target audience is not enough. You will need to create a Customer Persona.

A customer persona is a semi-fictional representation of your ideal customer based on market research and real data. This means knowing relevant information such as educational background, personal demographics, and job role. You’ll need all of these when creating your persona. To make it simple, you can use this tool from Hubspot.

Don’t forget that this is just the first step! You will also need to validate customer identity for your startup idea.

The best way to validate your customers is to interview them. Justin Wilcox, Founder of Customer Development Labs, explains that you need to create a context to get real information when interviewing your potential customers. 

5. Prototype & Validation

Ready to bring your business idea to life?

A prototype is the best tool for testing both the potential and the necessary functionality of your idea. It’s all about using visual resources to describe how a product, service, or system works. It’s also the smartest way to think about product design. This stage must be completed in two steps:

    1.Create a Paper Prototype

    2.Develop a Digital Prototype

 It doesn’t matter whether your project is a physical product, an app, or any other kind of digital solution. A paper prototype is fundamentally important when creating a startup. It brings about the special moment in which you begin to see your idea realized.

 You’ll need to be creative too. Use paper, markers, and post-its to design your paper prototype. Once it’s completed, you can start testing your idea with your real people. These can be your friends, family, or colleagues. Let them play with it! As they do so, pay close attention to their user experience.

After collecting all the information, it’s time for improvement. You can now start adapting your solution, either removing or adding features, based on feedback, to reach the next step.

The next step is the digital prototype. Most people think you need to know how to code in order to create a digital prototype. Not true! There are a number of free online tools. In particular, we recommend:

• Adobe XD
• Marvel App
• Material.io

The digital prototype allows you to test-drive ideas for your product or service in a safe and cost-effective way. After creating your digital prototype, testing with real users, and adjusting according to feedback, your startup idea will have become more than just an idea.

6. Marketing Plan & Building a Landing Page

Now that you have your prototype, you can announce it to the world!

To create a startup for real, you’ll need a marketing plan. Define your short and long-term goals, and how these will be managed strategically.

deliver? What’s the unique value of your solution? You’ll need to answer these questions to start your marketing plan. You will also need to define which channels your startup will be on: Facebook, LinkedIn, or Twitter? Your persona will give you the answer. 

An important piece of the marketing plan is the landing page (LP). This is where you’ll redirect your visitors and convert them to leads. An LP needs to give straightforward information about your solution to your potential customers. It’s also where you’ll be collecting users’ data.

This is the moment you’re finally reaching people with a real interest in your startup idea. Let’s look at a real example to make things easier.

Paperchain is a fintech company working at the intersection of media, finance, and technology. The company has a platform that facilitates the payment of royalties in the media industry. The story of the company is amazing and worth reading, as is the LP. 

With a direct message to its niche group, this LP creates context and asks only for an email address in order to start interacting with leads. 

7. Business and Revenue Model

This can be the scariest stage for many young entrepreneurs. But if you want to create a startup, you’ll need to have a business and revenue model. 

First of all, you need to understand the difference between them:

• A business model describes how the company will generate value for its customers, and revenue is included in it. One company can actually operate several business models at the same time.
• The revenue model is about describing how a company generates revenue. Each customer segment can contain one or more revenue streams.

he business/revenue stage is the point at which you have sorted out every factor related to your sales process. Your business and revenue models need to take the following into consideration:

• Industry
• Product launch timing
• Channels used for customers acquisition

This is also the point at which you will figure out costs. This means the per-unit cost of producing your solution as well as logistics and operations. It’s not only about income, but balance.

There are numerous models that you can use to create a startup. However, it’s always important to understand the advantages and disadvantages before you decide what suits your business best.

8. Funding 

Phew… You’ve reached the final stage of the startup process. But this doesn’t mean your work is over. Actually, this is just the beginning of a new journey!In case self-funding is not a possibility., there are some different ways of getting money to your startup idea. It all depends on your solution and business model. 

• Take Out a Loan: Having debt doesn’t sound fun, but it’s one of the ways to create a startup. You can use your personal network (family & friends), banks, or public loans.
• Crowdfunding: What about offering great rewards in exchange for funding for your startup idea? By creating a cool crowdfunding campaign you can get the money you need without taking on new debt. 
• Grants: Don’t expect to get all the money you need. However, grants are a good option for funding your business. Local governments and private businesses often provide grant opportunities. Use Google to find the best option near you. 
• Investors: If you have watched the Shark Tank show, you probably know what an investor is. But, don’t be fooled by television… There are different types of investors to fund your startup idea.

These are just some of the possibilities. And you don’t have to pick only one. You can begin with money from your family or crowdfunding.Then plan to pitch to investors or apply for a grant. You need to plan out the best and most viable ways to develop your business.