There has been so much buzz these days regarding quitting your jobs and starting your own company. Whenever we meet people, they usually have this notion that they have a great idea but they lack the knowledge of how to start their own business. So, Googly Networks decided to write an article to help all the young enthusiast in starting something great.
Before going further with how you can build your company, you need to remember one thing i.e. You don’t have to be great to start, You have to start to be great. This thought has always motivated me to work hard everyday and make things happen in reality. Now coming back to our topic of whats that you need to start your own business;
1. An idea
The fundamental base to every business venture is the idea that resides in your mind. Your idea need to be different from what is already happening in the society. It needs to be something that people has never seen before, or even if they have seen it before, the way you can excute it should be different from the entire generation of entrepreneurs. You need to believe in your idea because a thousand people would come upto you and tell you that its not worth spending time on an idea like yours’ or it is something that we have seen in the past, but NO, you need to listen to your heart and intuition as they somehow already know what you actually want to become.
2. A Team that you can rely on
So the most difficult thing in the world of Business is building a team that you can trust. Take over a look at all the entrepreneurs by far, they always had a group of people they can rely on. I am not saying that you cannot start something on your own, but all I want to communicate is that sometimes you need someone to tell you that It’s going to be fine and you need to chill or that you are doing great work because at the end of the day, it is your work thats gonna fill the large part of your life and you need to have a team just like your family (Fights a lot but always stays together).
You can start a company that serves either goods or services. If you want to launch any product (i.e. a tangible good) in the market, you need to have funds for producing it, marketing it and finally delivering it to the consumers but on the other hand you can start earning by prodiving the services you are good at. So funds are major where you have to deliver any tangible product to your consumers. For arranging funds, you can opt for a number of sources and lets just keep it real that no venture capitalist is dying to invest in any new company unless you are the next Steve Jobs of this generation, so for arranging funds for starting up the initial operations of your company, you might have to invest out of your own pockets, or bring you “FRIENDS WITH RESOURCES” on board by showing that how great your idea is, or you can go for crowd funding (refer link for some help: http://www.fundable.com/). Funds aren’t that difficult to get if you have a great idea. So keep approaching people and get ready for some rejections.
4. Motivation/Passion to work for your idea
A lot many times after we get good funding, we have the tendency to get distracted from our basic idea and forget the real purpose why we started our business in the first place. That might be because things didn’t turn up the way you wanted them to or may be because your consumers don’t want to try what you are offering them. DO NOT LOSE HOPE. Just try to remember, Why you started off this business in the first place? What motivated you to work overnights when your friends slept or enjoyed parties at night? The answer to this question will always keep you passionate about your work. You need to be motivated enough to tell your team that even if the things aren’t so well, they will be great as your business will boom one day and the entire world would appreciate what you have created.
Once you start off with something, it’s not important that your consumers will always love you for what you have created in the history. People need new stuff, they want innovation. They always look forward to new stuff, more exciting things and things that they can relate to. Apple, Facebook, Microsoft and Google, the biggest business giants in the history of start ups have managed to survive so long because they innovate their products. Every day you get up and visit Facebook, you can see a good memory from your past, or your connection with someone in the form of a video or a notification from facebook saying “Good Morning”, thats called innovation. Google has never stopped bringing new products to your life and Google Pixel, Google Allo and Google Duo are the true examples for that. So never stop innovating in your business.
6. Love what you do
My last advice to all the young entrepreneurs is just love what you do and you will never end up working again in your life. Steve Jobs once said that the only way to do great work is to love what you do and thats something that will be the core to your business. When you start something, you nourish it like your own kid, so never let anyone point a finger at your kid and do whatever you love because that is where your will get the best satisfaction in life.
Thank You so much for reading my blog. Googly Networks has seen a lots of ups and downs over the past but me and my team went on working and never cared about the criticism and look, today we have such amazing readers like you. We wish to serve you forever and our mission is to be the leading online magazine worldwide. You can support our work by clicking the Like button on our facebook page and inviting your friends to view our work. You can leave your valuable feedback if you liked the article.