Startups seem to be all the rage today. As soon as someone as an idea for an app or a business, the first reaction is to start a “startup”. This is usually means heading straight for Silicon Valley and spending thousands on rent and office supplies before validating the business idea. As you can tell, that approach never ends well.
The first key in starting a start up is deciding your goals. Do you want to build something lasting, a business where you work at on a daily basis? Then you want to start a business not a start up. If your goals are to build up an idea to the point where it gets validation and can be sold, this is more of a start up approach.
The first and biggest key in a start up is the idea. Double and triple check you’re not wasting time with an idea or concept. If you’re goal is to get a valuation and sell then you need to be especially sure you have a good idea. A lot of start up fail because of many wasted hours working on a idea that never had a chance. Remember, if you want people to buy into your idea, then your idea must make them money. Don’t be afraid to change ideas, but also don’t forget to validate your idea before moving on. You’ll save yourself a lot of time and misery this way.
The second key in starting a start up is picking your team. Time is an incredibly important resource when it comes to a start up. It’s pointless to learn cross platform app development from scratch when you can hire someone. The question to ask is if this person needs to be on the team full time or if you can outsource some work to them when you need it. The answer will depend on your idea and your business.
Another key part of picking your team is looking for masterminds. Usually start-ups are small, but are full with people who are masters of their own domain. With a start up you have an opportunity to hand pick who you want to work with. Go the extra mile to find the coder who stays up all night and the graphic designer who spends their free time in museums. To get great results you need great people. It’s easier to find average people but prepare for average results.
The last key in starting a start up is defining your role. If you decide to be the manager/overseer, then stick to that role. You can’t be responsible for coding and for supervising everyone else. You might even want to bring in a person specifically to manage your start up so you can do what you do best. Making decisions like this will contribute to a successful startup.
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