Entrepreneurship Industry News

How to Setup Strong Foundation For Your Startup ?

Human Aspiration is Key :

Human life can be summed up with this one letter word “Aspirations” We aspire to be succesful, our intellect always fires a lot of questions, some mindful soul are able to listen to those questions and address it by seeking the solutions , some soul ignore that quest from inside and carry on with what gives them the comfort , they fear of losing what they feel is their own. This aspiring souls are the one’s who dare to do something, but they also need to think in a more realistic framework where they have to put a questions mark around what they want to do.

So todays article is dedicated to those aspirational people who are fearless but realistic in their approach . They know that if they put their hands in the fire they will burn themselves, but they also understand the fact that there are ways to overcome those kinds of obstacles if they are fully prepared and aware of what all is required to start any business/startup of their own.

So if you are still with me that means you are one of the aspirational soul who are looking to start his/her business venture. We will together cover this journey where i will lay down few key pointers which one has to keep in mind before they put their first step forward towards his/her startup vision. First let’s define a startup

For me :

“A startup is a combination of team who has clearly defined the problem statement which they are going to solve and have the conviction ,courage and necessary training to realise the same with well planned execution strategy.”

A startup is nothing less or nothing more than those aspiring souls who have dreams and courage to deliver and who lives in realistic world to come up with a problem worthy enough to solve. So what are the key founding elements to ensure that any startup which has started can sustain.

Top 3 Ingredients to build a strong startup foundation :

1. Right Mix of Talent Need To Team Up : As mentioned before any startup is all about the people who agrees to certain conditions to come together and start their journey, but it is more than an a team, it is very important to understand here is that every brave-hearts who team up must complement each others skills for eg. if one founder has great technical understanding other founder must be good at sales, one has to have a technical understanding and one has to be creative in his approach.

2. Business Blueprint Has To be In Place :
Your Idea has no value if doesn’t answers the why, what & how of it. The entire concept has to be well documented after sufficient competitive & market analysis. So before you start make sure you have clear cut business blueprint which can help you plan your execution strategy based on the requirements and lacunas identified. This preparation will help us to be ready for any contingent situation and make the entire development process super efficient.

3. Financial Requirement Analysis and Reserve cash :
Don’t venture into any startup specially a technology & operation driven startup without analysing the fund requirement. As founders will be the first investor for their startups they should take it even more seriously as they will be needing funds for their own survival while they are totally invested in setting things up for their dream startup. Also they need to have clear cut roadmap of financial expenses for at-least 1st year of their business . If they have financial planning intact their foundation will be rock solid to sustain the challenges which they will face in building their product and will have all the time to validate their idea in real market scenario.

Nutshell :
So overall Solid Team, Sustainable Business Plan & Initial fund reserve to bootstrap the startup can really set the right conditions & stable foundation over which the aspiring and fearless startup warriors can build their business which will be long-lasting and impactful.

Building your startup is similar to building your dream home where with sufficient financial backup, you hire right people to setup a right foundation & building design and then construct the structure which is solid ,stable and has all necessary things according to your plan.

Read more: CodeBurst