Many of us dream of having our own company. During our lives we give shape to ideas that go unnoticed, simply because we don't know where to start. It is normal that we have some apprehension at first. Starting something new means facing challenges where there is generally more uncertainty than certainty, and taking this step is not easy.
Now, what if I told you that starting a business is easier than you imagine? That from day one it is not necessary to invest a single dollar. Instead, ideas, concepts, structures, research, constructive criticism from friends will be invested and a structure will be created to build a step by step path to follow so that one day, hopefully soon, it becomes a reality.
Follow these steps and Dare to start and structure this idea that has not let you sleep for past thousand years!
STEP 1: Get started!
Start by structuring your idea. On a sheet of paper, write your idea, write what the mission would be, what is the essence of the company, write the future vision, decide how long you think it will take you to fulfill this vision (Recommendation: More or less 3 years is ideal ). Make a table where you can weigh the characteristics of your company against the benefits they bring. This will be the beginning of your differentiator.
STEP 2: Discover!
Create your value proposition, which is based on the promise of delivering to your user a product or service that will have added value and will therefore meet a need that until now has not been satisfied by another product or service. And here comes the most interesting part of the process, testing our assumptions in a quick and inexpensive way. For this you need something called MVP (Minimum viable product), which is a prototype of your product or service that has enough features to satisfy the first customers, who will be the ones who, based on their experience with the product or service, will provide comments and feedback. ideas for the future development of this new idea.
STEP 3: Get to know your audience!
In this step you will get to know your client, you will create a fictitious person that has the characteristics of your target market and that will help you understand in a didactic and clear way who your client is and why they need your product or service. In this stage we investigate how to reach this customer, what they like, what price they are willing to pay, what activities and resources are key to making the product a reality and to making it viable.
STEP 4: Get organized!
Here comes the part that worries us so much, THE NUMBERS! This is when we sit down with an Excel table and start creating our financial model. This is where we discover that many times I don't need much to start, and I can push myself as hard as possible to avoid making excessive or unnecessary investments. We call this "Boot-strapping", where we try to use the services that are on the market for free or making the smallest investment possible to be able to invest the money that I have or that will enter the right place in the future. Minimizing risks and maximizing results.
STEP 5: Create a plan!
This is a step that we almost always forget, or that we rarely take into account. We must create a plan to ensure that from day one we are coordinated and organized to obtain an investor or to start building my startup. Many times it happens to us that we sell our idea very well, we excite investors and clients, but then we do not have the company structured enough for them to invest or buy our products/services; leaving the investor or client feeling underwhelmed.
I hope you are now ready to start structuring your idea to take the first steps to make it a reality!
Contact us, if you want detailed information on each of these steps, we would love to hear about your project and help you make it a reality!!
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