Your Guide to Your Next Billion Dollar Startup
A Lot of People have a lot of question related to Startups. How to find a idea, how to start, how to market. I helped several people through my answers on quora and decided to make a post here for public access. Some think it requires a lot of Investment, Actually it doesn’t
Here’s how
Initial Investment in facebook was $23000 USD(Roughly 10 lac inr that time)
In 2004 Eduardo Invested about 10 Lac INR (23k usd) for servers in Facebook and that turned out to be a Multi Billion Startup Later on.
So basically you can do a lot with 10 lakh
Any Startup Idea when executed well can turn into Billions.
The Big Question is
How To Find Your Billion Dollar Idea
Step 1: Look Around
Look your surroundings for Problems and how they can be solved through automation. Also observe Apps and Websites solving some of these problems
Step 2: The Solution
Think about how can you solve these unresolved problems or how can you solve these problems in a better way not yet addressed by current available solutions
Step 3: Validation
It is important to validate your idea before you move any further. If you do not validate your idea you may regret it later
How To Validate Your Startup Idea
Step 4: The Vendor
Find a Developer who can this solution for you. Rest these to get help in outsourcing
Do what you do the best, outsource the rest
Outsourcing Simplified: Get the Best for Your Startup
Step 5: The Plan
Write how will you execute your business. You can write your business plan yourself or hire a Professional for the work.
Business Plan Writers: Should You Hire One?
Step 6: The Team
Getting the Right team is important for successful execution of your business plan. Choose your team wisely.
Read These
7 Kinds Of People You Need In Your Startup
This is why you need to change your hiring strategy
Step 7: The Culture
A Startup is defined by it’s culture. Right culture can take you to places while bad one can put you to ashes
Culture: How important is it for the startup companies?
You will also need to take preventive measure to avoid loosing key members
11 THINGS THAT MANAGERS DO CAUSING GOOD EMPLOYEES QUIT
Step 8: Funding
If your Startup needs additional funds to expand you can look for funding from various options. Or you can bootstrap your way to success
FRESH AND UNIQUE WAYS OF BOOTSTRAPPING YOUR STARTUP
ANGEL INVESTORS- HERE’S ALL THAT YOU WANTED TO KNOW
STARTUP METRICS: HOW TO ATTRACT INVESTORS
Hope this helps.
If you would to know more, Need help with your Startup at any stage feel free to write to me on varun@jainvarun.in
Best wishes for your Startups
Cheers,
Varun
Helping Startups Turn Their Ideas Into Profitable Businesses
