Before we proceed, here is a short motivational video for Startup:
Here is a definition of Startup from Wikipedia:
From Wikipedia, the free encyclopedia
A startup or start-up is started by individual founders or entrepreneurs to search for a repeatable and scalable business model. More specifically, a startup is a newly emerged business venture that aims to develop a viable business model to meet a marketplace need or problem. Founders design startups to effectively develop and validate a scalable business model. Hence, the concepts of startups and entrepreneurship are similar. However, entrepreneurship refers all new businesses, including self-employment and businesses that never intend to grow big or become registered, while startups refer to new businesses that intend to grow beyond the solo founder, have employees, and intend to grow large. Start-ups face high uncertainty and do have high rates of failure, but the minority that go on to be successful companies have to potential to become large and influential. Some of startups become unicorns, i.e. privately held startup companies valued at over $1 billion. According to TechCrunch, there were 279 unicorns as of March 2018, with most of the unicorns located in China, followed by the United States. The largest unicorns founded as of October 2018 included Ant Financial, ByteDance, Didi Chuxing, Uber, Xiaomi, Airbnb and Unicorn Network.
Now lets go ahead with our own prospects regarding Startups.
What are Tech Startups?
A tech startup is a company whose purpose is to bring Technology, Products or Services to Market. These companies deliver new technology, products or services or deliver existing technology, products or services in new ways.
As a startup, you have to face a lot of challenges, because of the competition in the Current Market, therefore, you have to develop a Business Model which is different and unique and much more beneficial than a Business Model currently available in the Market.
The current Market is always talking about Technology so the Tech Market has much more chances to grow faster than any other Market.
Lets talk about Tech Startup:
As long as my knowledge is concerned; if you are planning to do a Tech Startup then you have to research on these points first.
1. Where should you start from?
Research on; how far the Tech world has reached. Because each and everyday we hear about new projects, some of them are just copy cats but few of them are Unique. Try to learn from those unique projects and observe that how far the market has gone and find out your starting point where you can start your Tech Startup.
2. Create your own Strategy.
Again, research the Market at first for your current competitors and learn from them from their strategies and then research for your future competitors and also learn about them and their strategies and after completing your researching and analyzing now combine both, current and future competitors strategies and create a one for you with the combination of both.
3. Make a Three Phase Plan.
After completing your home work on creating your own strategies, now step forward for your sustain Plans. I strongly recommend you to have at least Three Plans.
Plan a, b, c. What if the Plan A does not work so there is an option to implement Plan B, and if the Plan B works fine for you then store your Plan C in your future Strategy Book and you can use your Plan C later on or may be you won’t have to use Plan C but you must have a Plan C as a Backup.
4. Participate in the Current Market Trends.
The famous saying; ” Trend is Friend”. Besides all your own strategies and Plans, it is crucial to pick and follow Market trends. Now a days specially for startups, The ICO so called (Initial Coin Offering) is a very handy tool to raise some Capital for your startup.
But, if you Plan to do an ICO so here are some strong and realistic tips.
i Choose a coin name which represents your vision.
ii Tie and bond your coin with some real assets as a backup, if you do this way so for sure you have a coin backed up with some kind of real assets so it will increase more interest for Members and Investors.
iii Keep total supply of your coin limited, this way the value of your coin will rise faster.
5. Raise Capital with other options like, IPO and ICO.
ICO and IPO
IPO (Initial Public Offering); if you are capable with this IPO Option then this is your another great and valuable opportunity and tool to raise funds for your startup.
As far as Market is concerned; you can raise funds with ICO (Initial Coin Offering) but the IPO is also the option available for you to raise your funds. you have now two sources to raise funds for your startup, it is up to your situation and interest whether you choose one of them or you go with both.
When you Plan to begin an startup, you have to work with your team, for example; you guys are 3, 4 or more as a founder, you have to keep in mind that; you will meet and face various people will talk about (IMPOSSIBLES) for your Project, but please ignore their (IMPOSSIBILITIES) and just learn from their words and move next and please skip the word (IMPOSSIBLE) from your Project and keep climbing.
I am saying all this Conclusions with confidence because, i personally know about people who started an startup and they met with hundred of thousand of people saying that; you are going to do an (IMPOSSIBLE) vision so change your strategy and bla bla… but they just ignored them and keep climbing and worked hard and Today they are Successful in their Projects.
We live a real life and we have to be realistic for our Business Life as well, be ready to face everything but Never Give up on your Dream, before giving up just remember yourself once that; why did you start? you will get the answer and will continue no matter how bad situations are there for you. just solve them, fight with them and keep going with positive energy and you are about to achieve your Success very soon.