Startup Creation: The 9 steps to start your startup
Creating your startup is not an easy task, there are a lot of steps to respect and spend time on. To have an idea is good, but to develop it is more important. This is why we decided to offer you a list of steps to respect before opening your startup.
Review your professional experience:
Before starting such a big project, take stock of what you achieved during your whole career to see if you have the knowledge required for this project. It will help you to know if you need to have some training in certain fields to be ready, but also to know what are your skills, strength, and weaknesses, and see if you need to hire someone to complete those skills.
Defining your project
This step is the most important because it will allow you to organize the whole creation process. You will need to develop your idea from the beginning and ask yourself the right questions
- What do I sell?
- Who is my target?
- In what my project will be useful?
- What is going to be its added value?
- In what ways can your idea stands out from the services offered by other companies?
- Do you need to look for a co-founder to help you in the process?
- What will be your juridic status?
- How are you going to finance it?
- How are you going to restabilize your enterprise?
- What is going to be your expenses?
- What will be my price?
Establish your business model, then your business plan. Think about all the aspects that could be important. Establish your financial plan. It will allow you to have solid bases to present to the financing organisms thus potential investors. Finally, think about the 4P’s (product, price, promotion, place) and the 7P’s (proof, processes, people) to install your product and marketing mix. It will allow you to position yourself correctly on the market.
Make a market research:
It is important to know what the client is looking for, but also to know what your future rivals offer to know how to stand out by installing new solutions. Understanding the client’s behavior is very important because it will allow you to act for the client and gain his trust.
Use tools like Porter’s five forces and weaknesses and the Pestel analysis to have a market representation in which you will be launching your product. Then, determine who will be important for your clients and try to file your rivals and you on a graphic, depending on criteria. In the storage market, we will talk for example about prices, service quality, and accessibility.
Organize your financing
Opening a startup requires a budget, you need to pay your employees, pay the rent, the insurances, there are a lot of expenses. This is why you need to find a financing solution.
Crowdfunding or participatory financing represents a good solution to finance its project when we start.
- The financing for reward represents a good solution to test your product on the market and to have an idea of the potential demands. If you end up not receiving financing, for example, review your business model
- The financing for actions. In this case, the investors will receive parts of your enterprise, which will allow them later to receive interests or to get an added value by selling their parts.
- The tax-shelter. Your investors will invest and receive in exchange taxes decrease.
- The participatory lawn. This form of the lawn does not pass by the bank. The investors get paid by interests and the lawn gets paid back by the years.
- The charity funding. There is no salary. Your investors are only donating. This financial solution is less adapted to enterprises that need to raise big amounts of money.
It is important to surround yourself with the right people before starting this project, which means, having contacts with the experimented entrepreneur to give you advice, to be able to find potential associates, to talk about your idea around you to find future clients and create your professional network. Startup incubators are a perfect fit to find this help, they will coach you, guide you through the construction of your enterprise and its life.
Reach out to people
Having good surroundings and a good network is important but it is not everything. Starting from the beginning, you need to look for a communication strategy to spread your idea and raise its awareness around you. Where are you going to be active? What are your acquisition channels?
As social media is one of the most used sources of information, you need to be active and regularly post content. Even if your startup is not fully created yet, it is important to let the future clients know about the progress and the launching date.
Also, you need to quickly think about having a presence on the internet via a website, on Google My Business and to work on the natural referencing. If you have the funds, Google Ads is an excellent way to gain clients.
To help you create communication content, you can use a lot of tools like Canva, Pixlr, or even Mailchimp. These tools will make your everyday tasks easier and will help you gain time. For more information about adapted tools for startups, come and visit our blog.
Find an office and build a team
Another important step of your startup creation is to find a place to install your offices. You can maybe rent it in a coworking space or you can rent a private space. Then, you also need to start recruiting to create a team that will help you with marketing, communication, sales, etc… In the beginning, if you do not have enough funds, you can start by hiring. For more information about productivity and scheduling tools, come and check out our blog to find more articles about this topic.
Define your identity:
There are three steps to follow to define your identity, you need to think about the visual design which is the logo. Then, there is the communication, how are you going to act, which communication are you going to use to develop your mark. Finally, the third step is to define your behavior which means, how are you going to act with the clients, what will be your tone in the messages, etc…
Find a storage solution with logistics services
Having a storage solution with a full logistics service can help you a lot, especially if you are starting an e-commerce. Thanks to this service, you can benefit the help of a professional but it will also allow you to focus on your main tasks rather than being worried about your stocks.
For more information about storage solution and logistics, check out our website.