The easy way will not cut it.
You may not even make a dent. If you are venturing into a business, you have to think it through, to analyze the information you have, to learn as much as you can and to prepare. You can never be prepared enough, but at least, you know, beforehand, that things could get hardâ€”and hard it would be. However, preparation still softens the fall when it does happen.
There is no way you can make it fail-proof either. Therefore, you might as well do what you can, prepare the best way possible, and enjoy the ride. The upside is, you will gain experience and will be more equipped the next time. You are not giving up right away, are you?
If you are barely scratching the surface, or even if you think you have already got all the corners covered, the step-by-step process provided by Inc.com will help. It is something that would enhance your knowledge, to sharpen your tools a bit more to give you an extra edge.
Read on below and be on your way to making your startup a huge success.
Are you planning your own start up or you already in the middle of one? Please do share your experience with us in the comment section.
The 6 Stages of a Startup
Startups are never successful overnight.
The stages below represent my experience as a B2B company founder, but many are transferrable to B2C companies as well.
STAGE 1: Quitting your Job
Is your idea good enough for you to quit your job? Is the idea good enough for you to get someone else to quit their job and join you?
STAGE 2: Building the Product
Can the team execute and build a working product?
STAGE 3:Â Customer Trial
Is there enough of a value proposition where you can convince a potential customer to actually invest resources (i.e. time) to try your product?
STAGE 4: Demonstrate Efficacy
During your trial, were you able to gather data and show any lift on key performance indicators?
STAGE 5: Paying Customer
Can you get your champion to actually pay or convince others at your customer’s
STAGE 6: Scaling the Business
How do you repeat the customer acquisition strategy of your paying customer over and over again?
I have found that it’s important to understand the actual stage of your company as it helps set your sights on attainable goals.
However, learning is progress. Even making mistakes is progress.
–by Jess Yasuda
To read the full article, please go to Inc.com.