Startups are newly created companies that are designed to test the market and search for scalable and repeatable business models. Instagram is a good example of a recent startup. The company took an idea, started with minimal staff and resources and soon hit the jackpot with a multi-billion dollar deal from Facebook. As with Instagram, many start up programs merge with other companies and some fizzle out altogether. The rare startup will hit a nerve with its marketing audience and will become a Twitter, Facebook or YouTube. For a startup to hit the big time, it must have ambitious-minded people at the helm, it must have a way to acquire funding and it should offer value to a wide audience. Let’s look at the evolution of start up programs from the original idea to the startup process and beyond.
The Idea
Most startups begin as the figment of the imagination. A startup can be created by a single person or a group of people, but the process for making the idea a reality is the same. Proper market research should be conducted to ensure that the idea is viable and funding will have to be secured. Funding can come from several sources, including private investors, banks and crowdsourcing.
Private investors and bank loan managers are going to want to see a thorough business plan to ensure that the idea holds merit. This is typically where many start up programs fall flat, either because the idea fails to generate the excitement of investors or because the idea simply doesn’t work once it is diagrammed on paper.
For crowdsourcing, startup-hopefuls will usually turn to the Internet where sites like Kickstarter and Indiegogo promise to help them raise the money they need. The idea will be described on the crowdsourcing home page and rewards will usually be offered for those who do invest. Many startups end up becoming funded completely through crowdsourcing, which gathers like-minded people together and allows them to invest in the companies they most believe in. If your startup offers an innovative idea and you are able to drum up enthusiasm from online users all over the world, you too may be able to fund your idea.
Start Up Jobs
Besides funding, many startups simply don’t have the people required to get the job off the ground. A tech startup that is designing a new app that will revolutionize the way we take videos might need a video production manager or a coder, someone who can truly make the app stand out. If you are someone with these types of skills, this might be a great opportunity for you to fill one of these start up jobs before things really take off.
Many people have become multi-millionaires and even billionaires because they had the foresight (and luck) to become involved with a startup in the very early stages. Dell Computers is one example. The company started in the garage of Michael Dell and many of the employees worked their start up jobs for free and only with the promise of possibly receiving rewards later on. Those employees stuck it out and ended up making a wise decision. That startup became the Dell Computer Corporation that we know today and many of those original employees became rich beyond their wildest dreams.
Most startups won’t reach that level and some won’t even go beyond the idea stage. The great thing about a startup is that it can be conceived of, set up and then shut down or even transformed into another type of company fairly easily. This is in fact what startup experts do all the time. They set up startups and then shut them down if they don’t prove viable, and then they start all over again with a brand new idea. These entrepreneurs know that it only takes one good idea to become the next Microsoft, Apple or Google.
If you have an idea for one or more start up programs, start putting your ideas down on paper and gather like-minded people together. If necessary, put advertisements for start up jobs online and elsewhere so that you can fill those crucial positions that will make your idea truly stand out. You never know; your idea, along with the right driven individuals and the proper amount of funding might just become the next big company that everyone knows and loves. Even if it doesn’t, you’ll be able to say that you experienced the fun and exciting world of the startup, which may encourage you to try again and again until one of your ideas manages to strike investor gold.
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