2. Startup Success
• Essential business needs such as website
design, staffing, product development &
marketing are accessible to practically
everyone at much lower costs than
previously
• The challenge now is how to launch & run
a startup with minimal hiccups & potential
for sustainable growth
3. Pondering over a great idea for a startup business, looking for some tips to
avoid rookie mistakes?
Here are some tips for a successful Startup…..
4. 1. Perfect your Idea
• There should be a sizeable demand or a real need for your product or
service in the market
• Your idea should be unique
• If the idea is not unique consider what could make it exclusive
5. 2. Assess Competition
• Be aware of your competitors
• Keep a look out for other competitors In
the same business
• Develop your idea to get a unique edge
over competitors offering similar services
6. 3. Structure A Startup Business Plan
• Create a mission statement ,conduct market analysis & plan a sales
strategy to set priorities & make decisions
• Reflect on how your business idea will survive & grow
• Determine what sort of funding will you need in future
• Analyze your strengths & weaknesses
• Be confident about what makes your product
or service different from competitors
• A solid plan will come in handy if you start
dealing with aggressive growth
7. 4. Emphasize On Funding
• Dexterously figure out how to bring in revenue
• Think through on how to earn money & then look into growing your
concept
• Try different approaches like crowd-funding your idea besides the usual
route of securing a loan or investor
8. 5. Build A Brand
• Build a strong brand strategy
• A brand is a strong element of how your
company is seen by your customers
• The brand identity should remain consistent
to reinforce business values continually
• The brand should immediately
communicate why your customers should
choose you over competition
9. 6. Create A Digital Presence
• Digital media is a powerful media
• Having a digital presence of your business is essential for any business
• Digital media needs a proper strategic plan to deliver a maximum sales &
promotion impact
10. 7. Decide How To Incorporate Your Business
• Choosing how you want to incorporate your business can be daunting
• One has to consider all the legal & tax implications
• Two common options for small businesses are to
structure as an S corporation or a Limited Liability
Company (LLC)
• Think about your long-term business needs &
consult your financial/legal advisor to determine the best setup
11. 8. Gather A Great Team
• Build a team of trusted advisors that can serve as an emotional, maybe
even spiritual support group
• The group can be comprised of friends, family members & mentors but
also include specifically skilled people where required
• Running a business is hard work & knowing you have a team behind you
can be incredibly motivating
• It is important to not only hire the right people but also hire the best
person possible to do the hiring
12. 9. Get Used To Doing More With Less
• Startups usually have limited resources
• Be constantly creative about the way you can
make things work with restricted resources
• Many daily tasks may have to be dealt with on
your own
13. 10. Stay Patient & Positive
• You’re going to make mistakes along the way
• You’re going to encounter failures, negativity & unthinkable odds,
that’s just the nature of startups
• Stay patient, keep your head up & keep moving forward, you’ll have a
much better chance at success
• Keep expectations reasonable & understand that growth takes time
& effort
14. DON’T THINK WHAT’S THE CHEAPEST WAY TO DO IT OR
WHAT’S THE FASTEST WAY TO DO IT.
THINK “WHAT’S THE MOST AMAZING WAY TO DO IT”
- Richard Branson
