Startup - The How's, What's, When's & Why's

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This is made and shared with the sole purpose to help startups. I have tried to bring together the important questions entrepreneurs face & answered them to some extent.

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Startup - The How's, What's, When's & Why's

  1. 1. From Scratch To Start Up The Right Questions? Ishmeet Singh Bedi Ishmeet.bedi@gmail.com
  2. 2. Have an Idea? Does it address an existing or future need? Is it novel? Does it work around in a new & better way? Have you written it down and slept over it? Can you live for the Idea? How passionate are you about it?
  3. 3. More than an Idea? What is your differentiating factor? Who will be the stakeholders? How will the business interact with the stakeholders? How will the stakeholders interact with each other? Business model? How do you monetize? Source(s) of revenue? Are you sharing your idea with right people? Taking feedback seriously?
  4. 4. Research & The Market will tell you ALL Where is the industry heading? Who exactly your are customers? What are their needs & pain points? Who are your competitors? What are they doing? What are the gaps in available products? How feasible is your venture? An immediate hit or a future star? PIVOT at the right time!
  5. 5. Brain Storm – Strategize Identify your customer segment and the target market Position your product/service How will your business interact with the market? Complete the puzzle
  6. 6. Roll Up Your Sleeves & Start Digging Define milestones & Prepare a Roadmap Create basic operation processes Make a product prototype, Show it to the right people Get qualified feedback and act on it Work out costs, expenses & sales projections Understand your financial Statements
  7. 7. Roll Up Your Sleeves & Start Digging What skills you already have? What skills you need? How do you fill this gap? Outsource Points to Ponder! Hire someone Find a Cofounder Cost effective Costly Affair Finding the right person Stable support Backup? Business has another owner Trusted Partner? Very hard to find His passion for the business
  8. 8. Be Full Proof – Be Vigilant No one is self sufficient Do not Hesitate getting help from Professionals Consultants Mentors Stick to regulations & compliance - Don’t invite Danger Find the right people - Network, Google & Ask There are always people out there to help Growth depends on -> Your Team & Support System
  9. 9. Do you need Money to make Money? How much you need to kick start? Seed Funding From Savings, Family, Friends & In Laws! Do you need Investment? Why, When & how much? VC Funding Options? Angel Investors Bank Loan or Bootstrap? Debt Finance Which one to go for? Depends on your plan & requirements
  10. 10. How to get Investors on-board? Your commitment Your Business Model & Business Plan Is the idea sustainable? What are the Projections? What is important to investors? How are your Accounts, compliance & Finances Their Exit Strategy? Have you sold the product/service For PROOF Your Grit & Confidence
  11. 11. Get Set.. GO! Improvise the product - R & D - Remove glitches Run a pilot test & plan the launch Set up processes for sales & marketing Be the Chief Everything Officer, monitor operations & sales, accounts, compliance & HR Go for the Break-Even Expand, with a strong strategy

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