What You Need To Know For An Ideal Startup?
So, you want to launch a startup? Good! But don’t know how to? Well, here is some short and sweet help. In order to launch a startup, you need to know the following:
You won’t go on a vacation without a plan! Then why would you go into the business without one? It’s like throwing darts in the dark.If you fail to plan, you are indeed planning to fail.
You love the idea and would work for free for the sake of the startup. Great! But your employees and vendors would still expect to get paid. You need to know how to get enough funds in order to meet day-to-day expenses, stay afloat and scale up.
Marketing and Advertising
So you have a killer app or a great product. But people need to know about it before they pay you for it. The marketing and advertising have become very cheap and affordable to the startups, especially in this digital age. However, at the same time, the need for digital advertising is not a choice. It is ok if you don’t shell out for a TV commercial, but not having a website is suicidal.
Well, not every garage startup is destined to become an Apple. If your business in nice, but not scalable, you belong to this genre. And it is okay as long as you are comfortably profitable and are enjoying what you do.
Okay, so you didn’t hear about this one. Understandable, but don’t let your prospective investors know that. Term Sheet is the document that defines what the investors get in exchange for investing in your startup, viz. % share and voting rights.
So that’s a sweet little cheat sheet for your startup. Do keep that in mind when you launch your startup. Happy starting up!!!
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