5 Ways Start-Ups Can Turn Their Vision Into Reality
People the world over dream about turning their business ideas into reality. Truth is, there’s a sizeable gap between having a solid idea for a start-up and launching it successfully. Yet, in a modern digital age it’s not as difficult to bridge that gap as you might think. So here are 5 ways to take that idea and successfully give it life.
Do The Homework
Sounds simple enough. But the amount of start-ups willing to throw thousands of dollars into a product without actually asking anyone if they want to buy it is astounding.
To know the market value of your product, and therefore its point of difference, is non-negotiable when considering a start-up.
National Australia Bank executive general manager for small business, Leigh O’Neill, recently stated in the Sydney Morning Herald that planning was the most important thing for start-ups to do.
Nothing Substitutes For Hard Work
Everyone has heard the term “short term pain for long term gain”. According to a study cited by abc.net.au, 95% of CEOs in the fastest growing companies in the United States work more than 40hrs a week in the company’s first year.
Having the idea is only step one and quite often it’s where many potentially great start-ups begin and end. It would seem that to make a vision reality, you need to be willing to put in the hours.
The key here is to know the economy you’re working within. For US start-ups, a work week of 70+ hrs in the first year might be necessary just to stay in touch with your industry. Yet, as the above article states, if you’re willing to put in that amount of time in Australia, it would more than likely put you well ahead of your competitors.
Purpose Is Paramount
As the last point stated, too many great ideas stay ideas because their owners are too easily deflated. According to forbes.com, having clear purpose for your start-up idea will significantly decrease the likelihood that you’ll lose faith as the obstacles begin to appear.
This includes clarity about the product/service you’re offering and understanding of the market you’re entering. Clear purpose breeds belief in what you are undertaking. It also enables you to let your passion show.
To aid the process, surround yourself with people that you know have bought into your idea. No man is an island and that is perhaps most salient when applied to the concept of launching a start-up.
Hard work and purpose are important. At some point though, money will be a factor.
Here’s a fantastic example of the advantages that modern entrepreneurs enjoy. According to Shopify’s Crowdfunding 101 Infographic, amounts pledged via crowdfunding in the United States increased from $138M in 2011 to $4.35B in 2015. That’s an increase of over 3000%.
People seem to have fallen in love with the idea of turning their nose up at big investors. Funding your start-up has officially been revolutionised.
Of course, it’s not simply a matter of logging in and telling people you want money. If this is a path you’re thinking of taking, read this article from Nathan Resnick before you launch a campaign.
A First Class Website
Once all your start-up preparation has been completed, the next thing to consider is your website. Why? Because it’s more than likely the first place most of your potential customers will go to find out more about your business.
Too many start-ups, especially in the tech sector, market their website heavily without considering its role. Your website is often the face of your business. Therefore, it needs to be given the attention it deserves.
As simple as it is to build your own site these days, engaging a professional website creation service is always best practice. When standing out from the crowd means everything, as it does for start-ups, your website could be the difference.
The team at WP Agency are set up perfectly to help you create a beautiful and functional website for your start-up business.