Starting your own business is hard work. There are so many elements to consider when you have no experience in how it all comes together says Peter Decaprio. What’s worse is that there’s rarely one way to create success (and having no startup experience means you probably don’t know what works and what doesn’t). However, I will share three tips I used in my latest startup ‘Due’. Hopefully these will give you ideas about how to begin your startup journey.
Before I begin, I should mention that you should consider these three ideas as a starting point to launching your own business – not the only things you should be doing.
To truly succeed in today’s business world, it takes a lot more than just a good idea and a few tips. Now on with the tips:
1) Find an MVP You Won’t Hate Launching
Are you going into business because it’s trendy or just because enough of your friends have asked for this start-up? No matter what the reason is, if you’re doing it for the wrong reasons then it’s time to reevaluate why you’re even bothering at all. The worst possible reason to launch a startup would be solely out of boredom or because it would be fun.
If you went into business because it seemed like a cool idea or an easy route to money, then chances are you’ll hate the entire process. Starting a new company is filled with endless research, lots of trial and error (mainly errors), sleepless nights, and stress from every direction. If you don’t have a passion for what you’re doing, then there’s no reason why anyone else should either. If you think your idea is going to fund itself without any work on your part or you can just rely on 5 hours of coding a week – then walk away now before you waste any more time.
The first step to launching a successful startup is finding an MVP what’re passionate about. It doesn’t have to be perfect, but it has to be something you’re willing to work on every day.
2) Validate Your Idea ASAP
Do you know why successful tech companies are so successful? They have access to endless resources that help them validate their product says Peter Decaprio. For some reason, this process of validating your startup is always one of the most difficult parts. There are dozens of decisions you need to make when creating your idea – none of which are easy. Do I create iPhone or Android version first? How many points should my user interface have? What’s my business model going to look like? Is there already a huge market for this type of product? What does my logo look like again?!
The point is that everyone thinks they have the next big idea out there – that’s why all these new companies are being created. However, it takes more than just having an idea to make something successful. It takes endless work and productivity to come up with a good enough idea that can be turned into a business.
If you’re creating your own startup because you think you have the next big idea then its time for some reality checks. You need to see if anyone agrees with your vision or if your concept is even feasible, and this is where validation comes in play. Many entrepreneurs’ waste months and years building their company without ever asking themselves: do people want what I’m making? Even worse, they don’t believe the answer when someone inevitably tells them so (by way of feedback, rejection, or failure).
3) Find a Mentor or Team You Can Trust
When starting a business, you’ll need help from a lot of people. Most of the time, you won’t even know where to begin when it comes to reaching out for support says Peter Decaprio. It’s important to find mentors who have been in your shoes before and can give you advice on difficult situations. Not only that, but finding the right team members is just as important. If you’re alone, then it’s nearly impossible to get anything done at all (unless your ambition goes beyond reason). Even if you manage to find someone who’s willing to work with you, then it’s still going to be difficult finding someone trustworthy and capable enough for the job. To put simply, you need to find people that you can rely on and that won’t leave you high and dry at the first sign of trouble.
4) Build a Decent Website
Your website is so important because it’s the main source for information about your business. Whether it’s a blog for new content or an e-commerce site, if your website sucks then so will your business. If anything on your site looks unprofessional or poorly designed then people won’t want to trust in whatever you’re offering them. In order to gain exposure or sell an idea, then it’s important that there aren’t any technical issues. Even worse would be not having a voice on the internet even though most online users will encounter your company their social media sites (Twitter, Facebook, etc).
Starting a business is never easy, but there are certain things you can do in order to be successful says Peter Decaprio. There’s no “secret” or guaranteed method for success so don’t take anything I said too seriously. Starting a company requires hard work and dedication – even if you have the best idea out there. Also, keep in mind that money isn’t everything at the beginning because it’s more important to just get something done than it is making money (unless your idea is based around generating revenue). Be sure to validate your product before spending too much time on it and always remember to be realistic about what you’re trying create!