Today morning I wanted to buy candy for my daughter. So I had picked her up and went to a nearby shopping corner. We purchased a lollipop, and she was enjoying the lollipop. While walking back, she was singing something, and I was listening. Suddenly out of nowhere, there as a mad dog started running towards us. I could see it is a mad dog just by looking at it. I did not know what to do for a couple of seconds, and I had to save myself and my daughter somehow. I did not want to end up at the hospital.
My mind was racing, and I had picked up my kid and started running towards a store and hid myself at the store. Dog went away, and I had to wait for some minutes to come back to the street. Why am I telling this story now? I remember running a business is like facing lots of uncertainty, similar to meeting a mad street dog, But instead of a dog biting, we will burn cash.
So if you are someone ready to do a startup, you should be prepared to face a street dog one day. This article will cover how you can plan and create a startup and manage a successful startup. What are all the things that you need to do before you start our business as a startup? Let’s start with a question of why.
Why do you need to create a startup
When a dog runs after us, no one will be there to face and take a dog bite instead of us. Similarly, when you burn cash or facing a threat to our business, it is hard to justify our belief to someone at the time and keep going. Asking a profound question and understanding why you are starting this business is very important when you ask questions about why you need to go to the level of five why.
At level one, when you ask why question, you get the first answer.
Then at level two, you again ask the why question for level one’s response. This way, you can go up to five and find a deep meaning of starting our business. When you do this, you don’t need to have a business idea, and you need to know whether you are going to do business and our conviction for running the business. Once you figure out why then you move to what question
What you need to do to create a startup
What is more related to strategy. So when you run a business, you need to decide whether the company is based on our strengths or generalised. This is when you need to read a lot and understand the strategies involved in running a business. One of the strategies that you can run a business is finding problems and solving them.
You don’t aim for solutions, but you aim to find problems
Once you decide that our strategy is finding problems, our subconscious starts exploring, and you will see problems around us.When you see someone is complaining about a problem, let’s consider that an opportunity for us. This way, you practice our brain to identify the right issues and finding a strategy to explore further.
When to focus on organising a startup
When you find a problem that you are interested in, you can start treating it as a business model. This is when real business model thinking is required and going deep about the chosen problem and justifying ourselves to start the business.
There are times that you cannot convince ourselves that you should start a business.
When this happens, you can do a minimum viable product by setting up a tiny budget and exploring further. You need to decide up front that you will not spend more than the required budget and are just validating one idea with little money. Once you choose this, you can fix where you plan to do this small product or service.
Where you can start our startup
If you are already a corporate professional, you can initiate this startup idea at the place you are working. This gives an excellent opportunity for us since you can use our company resources for your minimum product. Let’s be not feel bad about it. You have not yet created a legal setup, and no one will come after us since you are doing the bare minimum. Along the way, you can find a couple of your colleagues to be part of this, and they can fund your project as well.
If you are a bootstrapper like me, then find freelance work and start earning money.
As soon as you have attained money, you can create a budget and start doing the minimum product. Create a mini marketing list and share it with your friends and colleagues and get feedback. Please use social media and share the product or service idea with your friends. Once you have a minimum product created, you are ready to ask ourselves how to take it to the next level.
How you can start the startup really
Now, You have an MVP product. You have received a couple of feedback about our product or service when you need to think seriously and convince ourselves that you need to move the product from minimum product or service to the next version of the genuine product and services. But there are times you want to iterate minimum. Product and services a couple of times. If you have a budget set out to do more than one version of the product and services, please do so. But during this process, you should not fall for a perfect product.
A product or service will never be a perfect one for the Market.
Our Market needs new product and service versions all the time, so you never worry about making our product a near-perfect. You may ask whether you should worry about the competition. But my answer would be no. Because it is always your product and picking the right problem eliminates the game. Once you grow at a certain level, then you can think about competition. Let’s go through the article summary.
Summary
When you start creating a startup, you often start without asking for a clear road map. The questions are our roadmap. The problems prevent us from dog biting and cash burning. When you ask the five powerful questions, you can face any problem in our business and life. Those questions are simple to request and challenging to answer. Let’s be uncomfortable by asking those questions Why, What, When, Where, and How. Please remember this as H4W method. The questions may look simple but using the strategy; you can get away from most of the problems.