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How to Convert an Idea into a Successful Startup

Many people have ideas in their mind but they hesitate and think a lot before going for a startup. I think one of the biggest reason is the motivation or in more accurate term “being motivated”. People usually lose their hope very soon. And one more thing a power of motivating others is also necessary. The people who are already succeeding with their startup will be understanding what i am saying. All other factors are secondary.

After being so much motivated people start thinking of their startup ideas in detail, now they again comes various field to be taken care of like technical aspect, marketing , sales, branding and many other prospect. See, don’t try to do everything yourself to cut down the expenses. Then for dealing with all these you require a team because alone managing whole thing would be hectic and lead to failure if you thinking of something bigger.

Then comes the budget creation. You need to be very attentive while creating it because you have to collect it too unless you have a rich father.

So, you need to cut down so as to make higher output in lower input. Now comes the part of Business Analysis. We need to analyse our business idea, its implication on the society, your target market, money making source, from where to collect the fund, if there is need to hire someone and who will do what and lot more.

Create a pitch and a presentation explaining your business idea so that investor know why they should invest in your company.

After successful pitch and a lot hard work, you will became successful in raising fund for your company.

After this their are many thing to be done simultaneously.

  • Product Creation: This is the first thing overall. So how to prepare the product? See if you can create the product your own then great otherwise there are two options. You can hire people for creating your product and other is make your product made by some freelancer. Each has its own pros and cons.

If you hire people for creating your product then it would be little costlier and might require proper management for good work output.

If you are giving this to freelancer then the quality of your product may be compromised. But yeah your product would be made on time and don’t require much effort. And it would be little cheaper than hiring. For modifying and updating your product, would again cost you much more.

  • Branding: In today’s date Branding is everything. Recently Dropbox changed its logo and colour scheme. Though it was not that good, Dropbox tried to changed its branding as it wanted to attract more creative professional.It’s quite difficult for a layman to see a company in the branding perspective but it matters a lot.Branding is not only about going after your target market but to select over the competition and getting your prospects to see you as the sole provider of a solution to their problem or need.It helps you to differentiate you with other brands. It helps tell your story and your motto.Here are some questions you would want to ask your self –

    Does your brand relate to your target audience?  Will they instantly “get it” without too much thought?

    Does your brand share the uniqueness of what you offer and why it’s important?

Source – https://www.thebalance.com/why-is-branding-important-when-it-comes-to-your-marketing-2294845

  • Marketing:Marketing is crucial these days. No matter how much great your product is, it’s of no use if doesn’t reaches the right users. Marketing can both be online and offline. There are hundreds of ways you can market your product. But it’s important to try every possible method and invest in those which makes you more profit.With the help of online advertising you can laser target people. Be it people who share the same profession or live in the same area. The possibilities are endless.

Does your website has a blog?

If you are looking to take your marketing game to the next level, make sure you have one. Use Social Media to generate leads.

Marketing researchers use statistical methods (such as quantitative research, qualitative research, hypothesis tests, Chi-square tests, linear regression, correlation coefficients, frequency distributions, Poisson and binomial distributions, etc.) to interpret their findings and convert data into information.

Source – https://en.wikipedia.org/wiki/Marketing

After this your product would be launched. If you found it interesting which i don’t think, and you want to read further then do let me know. I would love to share more. I have written everything in brief and I know we can write a full article on each. Actually I never found something like this on internet for reading and i think it should be there that why i am writing this article. It is fully my experience.

Author Bio: Gaurav Kumar is a passionate tech blogger and shares his knowledge on Phoneaddons. com recently he has written an amazing guide on best power banks in India.

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