Creating a Startup: 5 Simple Tips For Your Startup

A startup company is a business that intends to grow quickly and profitably in a way that disrupts the current markets and helps the business’ field evolve. Startups are often designed for scalability, meaning the company’s ability to grow is not hindered by its financial or human resources. Many startup companies look to change the way we do things, like finding and booking vacation rentals, sharing photos, brushing teeth, or even how we learn.

California’s Silicon Valley has a high concentration of startups due to the area’s universities and investment resources—like venture capital firms, incubators, and seed accelerators. Many tech startups from Silicon Valley have become some of the most successful companies in the world.

The main difference between a small business and a startup is that a startup sets out to achieve a scalable business model, which prioritizes gathering as much funding as possible to encourage rapid growth. A small business, on the other hand, strives to become a sustainable venture that can exist competitively within a given market.

A successful small business can exist for decades, in some cases with business owners passing the business through generations. However, a startup may seek to grow in order to maximize their target market and attract additional investors—or a larger company to purchase or acquire them—to grow the brand and maximize profit. This can often lead to a spreading of ownership, which many small businesses don’t require.

There are a few tips you can follow to turn your business venture into a successful startup.

1. 1. Offer a solution to a problem. A startup idea should be something everybody needs—or, at the very least, something you can convince people they need. Your startup should offer a unique solution to a common problem, or a problem people may not realize they even had. It can be a brand new product, like a revolutionary operating system for computers, or a revolutionary technology for connecting people. The centerpiece of your startup should be a viable product that defies trends and has high growth potential, as well as the ability to exist in the long-term.
2. 2. Seek help running your business. Running a company on your own can be very difficult and full of pressure. Many entrepreneurs find partners or co-founders during the early stages of their startup to help diffuse the responsibilities of running a business. If you choose to have a partner, do your due diligence when searching for one, and make sure the person you select has skills and strengths that complement your own. However, many people choose to run their companies on their own.
3. 3. Develop a pitch deck. A pitch deck is a 15–20 slide presentation that outlines all the information about your startup, including: a company overview, a company mission or vision statement, the problem your business solves, how it provides a solution to the problem, the business model, your founding team, financials, and more. Many startup founders forgo a traditional business plan in favor of a pitch deck, because you’ll need a pitch deck to attract investors, who will get your company off the ground.
4. 4. Find investors. Every burgeoning company needs money to keep the lights on. You’ll need to find at least one source of capital—whether it’s through crowdfunding, angel investors, or venture capital firms. Increased funding will ensure you have the resources to keep your startup thriving.
5. 5. Build an online presence. In the twenty-first century, every large-scale company has a website and social strategy. Purchase a dedicated domain name that will be easy for your customers to remember. Build a website where people can find out information about your company, and what makes it unique. Use social media to market your idea to the world, and get people excited about what you’re creating.

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