“Everything begins with an idea”, wiser words that have never been spoken before. The above statement is said by the author, Earl Nightingale. No offense, but as an entrepreneur, some of us might not agree with this statement. It often leads to the wrong mindset of entrepreneurs or businesses and even businessmen sometimes. The statement, “Everything begins with a problem to solve” fits just fine for us entrepreneurs.
Because we believe that ideas are potential solutions to people’s problems. In this article, we will read and learn about how to start or take crucial steps to build a tech startup. We’ll start by knowing what exactly entrepreneurship is.
What is entrepreneurship and who is an entrepreneur?
In short words entrepreneurship is the ability to run a business and readiness to develop in an organized manner and moreover with any of its uncertainties, making profit out of it. Mainly, you can define the term entrepreneurship, as a risk-taking part of the nation’s capacity, mostly to succeed in the ever-changing and more competitive global marketplace.
And the very first trait an entrepreneur should have is the stomach to take risks and make sure of making a profit out of it. In a nutshell, the very fine example of entrepreneurship can be starting up a new business venture. Because in the market full of competitors, the entrepreneurs are seen as a source of new & fresh ideas or trendsetters and even innovators.
The Crucial First Steps to Build a Successful Tech Startup
Let’s begin to understand the purpose of this article step by step-
The very first level is the right entrepreneur for the right problem. Having the right entrepreneur means having someone with knowledge or experience in that field. To validate the correct problem, an entrepreneur should actually insert himself into that process and learn by doing. By putting yourself there, you’ll lean towards the process of solution building and have a clear view of that particular problem. Second in the line is someone who is Industry Expertise.
Another very important trait is industry expertise and experience, if you know how the industry works, you know how to use the facts or to tackle them. Then, you’re not just familiar with the problem, you’re familiar with the ecosystem surrounding the problem. So you’re just ready to deal with every hurdle in your way and by the way, trust me when I say, there will be many hurdles.
The third level is money to invest. VC Paul O’Brien once said, “No startup in the history of the world can raise money just to get going, Unless you’re Elon Musk unless you’re Mark Zuckerberg, no one is going to give you money just to start something. So startup finance has to start with your: Savings Debit Friends and family
You just have to fund yourself, and should not even wait for anyone else. Some may learn it the hard way, while others choose to go with the easy way. Once you’re over this phase, the real adventure awaits you. Now, all you gotta do is some hard work and some smart work. The next level is building a strong network. Have you ever given a thought to why the successful startup founder is 45 and not 19? There’s a basic reason behind that.
Well, actually not just one, but all the reasons are connected to each other. At 45, obviously, you’ve been in the industry for longer compared to the age of 19 and have gained so much expertise and experience. And just like that, you must have made so many connections and strengths.
And then we know that building a tech company isn’t possible unless you have some solid connections. And these connections work as an asset when you build your dream company. The last step is to share your ideas with anyone that will listen.
Not just in the industry, but you should never be afraid or embarrassed to share your ideas or to keep your opinion on the table. Who knows your idea might be as valuable as the execution. And trust me! You never know what works for you. Execution is so much more than hard work, it’s more about receiving opinions and expertise.
Choose your options wisely. Your entire business is based on your startup. If your startup isn’t nice, your business won’t last long. Moreover, try to acquire more and more traits that will help you boost and grow your business. Even though the first few steps are crucial, these steps are fruitful too and will help you gain the experience of a lifetime.
All you need is vision, passion, innovation, humility, and persistence. And these key characteristics will make sure that you will build a successful business. These are some keys that will accelerate your business throughout and not just in its initial years.