Why Start A Startup?
Having your own business and working on building something on your own terms is defined as a prime motivator in achieving mastery and ultimate happiness by Daniel Pink, author of Drive: The Surprising Truth About What Motivates Us.Another essential step, often considered costly, is the legal setup of your business. However, there’s good news: you can learn about starting an llc at no cost which can significantly help reduce your startup expenses while ensuring your new company is set up correctly.
Here are 8 Steps that make a successful start up, from the book, The $100 Startup.
1. “How Can I help People More?”
By asking yourself this question, you will shift the focus from what you can get when you start your business, to the value you can create. By giving people what they want, you will gain loyal clients who value your business and the service it provides.
2. Borrowing Money To Start A Startup Is Completely Optional
Not all businesses need large sums of money to start. The days of throwing money at a start up are over, and entrepreneurs are using creative and innovative ways to start their businesses on a shoe string. Focus on starting with as little financial input as possible and reinvest profits as the business grows. Big start up capital doesn’t always equal to a successful business.
3. People Won’t Pay You Just Because You Love Your Business
Focus relentlessly on a point of convergence between what you love to do and what other people are willing to pay for. Most core needs are emotional so focus on attractive benefits and not plain features. You usually don’t get paid for your hobby itself, you get paid for helping other people pursue the hobby or something related to it.
4. Find All The Things You’re Good At
If you have a certain skill, there will be other skills that will relate to it and by using the process of skill transformation, you can find many other skills that you are good at. Start a startup by thinking about what you love and what people need. Never one or the other.
5. Find Your Specialty And Become An Instant Consultant
There is no school for being a consultant so use your existing skills and become and instant consultant. Do you know something that most people don’t know? Can you find out an easy way to get paid? You could be great at snowboarding or an expert salesman, find a way to package what you know and start selling.
6. Create Some Hype
When your product or service is ready, hustle! Crafting an offer, producing a launch and hustling will get you far greater results than releasing your product with no fanfare.
7. Make Money As Soon As Possible
Make that first sale come as quickly as possible. The first sale is the hardest, so do whatever you can to make it happen as early as possible. You can then work on improving the things that are working, while removing the things that aren’t.
8. Success Is Sequential
Success does not come over night, but from a series of small improvements over a period of time. Keep improving and you can’t hep but become successful. Now start a startup now!art a start up, start start up, start up.
