13 Essential Steps to Launch a Start Up
Starting a business is easy … but creating a business that will last and be successful is a different story … That’s why in this article we try to explain briefly the 13 steps to start your business:
Step 0: Check That Your Idea Responds to a Market Need …
This is not step 1, but a prerequisite as there is no point in going head-to-head with a project if prospects aren’t ready to buy.
Step 1: Find Associates
It may seem counterintuitive to start finding partners right off the bat, yet it gives you a much better chance of success later on. Why? Simply because when we are alone, we are overwhelmed by different tasks, we do not take a step back… and therefore the project is less likely to see the light of day. This first partner can be there temporarily (to support you during the launch) or for the rest of the adventure.
Step 2: Set Up Your Communication Media
Even if your idea is only in its infancy, you must start occupying the field now, via a blog, a Facebook group … this step will allow you to be recognized by your community of prospects, to create your first pool of prospects …
Step 3 – Draw Up Specifications for The Mock-ups of Your Product
So you can clarify your idea, and know what you want to come up with. Remember that the devil hides in the details, and it is often by going into the details that we ask ourselves the right questions.
Step 4 – Develop a Prototype
The goal is to focus on the key features, and not want to make a Swiss Army knife product. Now is the time to focus on the killer feature and see what your prospects really want.
Step 5 – Make Your Prototype Known to The First Prospects and Influencers (Facebook Ads, Bloggers, Etc.).
You have to prove the relevance of your concept, with a minimum of sales to be made. Start by testing your speech, your arguments… on a small number of prospects, and then gain strength.
Step 6: Obtain Funding
Initially you can get your first funds to start your business, especially with “Love Money”, which is money from your family and friends for your first steps in the business. Cash is your engine for your business … if the gasoline runs out, the engine stalls and then stops! Once you can prove that your product is aimed at a real creditworthy market, that you have your first customers… you can raise money or get more financing.
Step 7. Determine the Structure of the Company
Even if the creation of a company can wait for the finalization of your project and your first clients, it is important to think about the legal form of your company, and the distribution of the capital.
Step 8. The Commercial Brand
The smaller the company, the more important the brand and the graphic charter will be. Indeed, they will allow you to create emotion and differentiate yourself from your competitors.
Step 9. Create a Bank Account for Your Start-up
Whether it’s a simple Stripe or PayPal account, or a bank account to house the business, the bank account quickly becomes essential for paying suppliers and receiving first payments.
Step 10. Set Up an Accountancy Software or an ERP
The accounts must make it possible to comply with the law (VAT, etc.), but above all to monitor your finances, and especially profitability and cash flow …
Cash is the lifeblood of your business, if there is nothing left to pay suppliers and employees, the business will stop.
Step 11. Build Your Team
Alone we go faster, but together we go further. Creating a start-up alone is one of the major causes of failure. It is better to create a project together than never to see your project finalized. The team also makes it possible to delimit responsibilities and know who does what.
Step 12. Have a Minimum Presence on The Internet (Sites & Social Networks)
An engaging website, perfect landing pages and strong social media accounts allow you to increase the notoriety and credibility of your business.
Step 13. Find Partnerships
As a small business has few resources, partnerships are essential to gain notoriety and visibility at a lower cost.
