For many young adults who are fresh out of college or even those who are in the middle of a mid-life crisis, the idea of a start-up might sound rich and engaging, until it doesn't. The key to finding success when feeling bogged down by all that occurs with your start-up is to know exactly what steps you need to take next to ensure that your start-up doesn't end up as a failure. Read below to find out what path you should take as you begin your next adventure.
THE PATH TO START UP SUCCESS
Anna Vital over at Funders and Founders has not only created an easy to follow infographic, but also a set of instructions that go along with it. Her simple rules include:
- Live in the Future: Big start-ups are based on two different concepts; obvious and hard and non-obvious and hard. Don't ever assume that any idea you have is impossible, impossible is nothing if you put your mind to it. Many current start-ups started from an idea that has grown into a multi-million- dollar venture like Uber and Space-X. Dream big.
- Figure Out What is Missing: Write it down, design it, and create a prototype--cover all your bases to help your idea come to life. Writing it down is the easiest step, creating a prototype is where most people quit, so go above and beyond the mold and get beyond this step.
- Find a Co-Founder and Register: A co-founder is always a good idea, it is someone who supports your idea--lives, eats, breathes it, and someone who will devote every waking moment with you to helping this idea come to life. After you have a co-founder, register your company and split the equity with your co-founder to keep the fire under you both at all times.
- Fund, Build, and Launch: Find an investor to fund your project and build away until you have nailed down funding and a great product, then launch away but remember it is probably going to take a few launches and adjustments along the way. Remember to follow up with users and always be sure to provide something valuable to keep them coming back and recommending to their friends.
- Grow and Succeed: Track your growth and always encourage yourself and staff to monitor a consistent growth each week and month, with these tips success is sure to follow, helping you to escape the rut that so many entrepreneurs find themselves in.
Success is measured by how much effort, time, and work you put into it and it will provide you with tangible results that are sure to propel you in the start-up world and beyond.