Here is all you need to do to make your idea bloom into a successful startup
By Surekha Pendse
Do you have an idea and feel that you want to startup?
Let us ponder and make a checklist of what all one needs to do to turn an idea into a startup.
A great idea is great only when it is viable. So is your idea viable? Be heartlessly honest when you ask yourself this question. Go to a friend or family, which is very critical. The person will have a perspective that you may not even have contemplated. Make sure that the idea is viable.
Once the idea is clear, do make a business plan. This will iron out the various pain points or obstacles in your startup journey.
When you draw the business plan do work on the pricing as that is an important factor and will contribute to the success or failure of your startup.
Logo and design elements should be done either by self or by a professional or involve your design friend or family.
If your family is involved, pressure from the family will ease off a lot when you startup. So get your family involved in the startup.
Check out all the legal issues like the name of the business, domain names available, go to a professional accountant or a CA to sort out the legal issues if there are any. Form a company. Do apply for the various licenses for smooth functioning of the business and choose a bank and set up an accounting system.
Set up a website if you have the technical prowess or get a co-founder who is a techie and can do all the tech work on the website. Besides the website, do set up all the accounts on different social media sites depending upon the type of startup.
Check whether your startup requires an office on rent or is it going to be a virtual office for the time being or if you have space that you can use as office.
Your startup requires stationary and you need to order visiting cards, letterheads, various stamps and other necessary stationary items that will give the professional touch to the startup.
Assign clear roles and activities to the co-founders. Reduce as much ambiguity as possible.
Now you are ready to, go so start to earn revenue as early as possible and do it through your known network and contacts which will boost your confidence and give you beginner’s success.
So get set go!
Surekha Pendse is a marketing and process enthusiast who loves working, reading, music and the internet, not necessarily in that order. She is a Welingkar’s Institute of Management alumni. Based in Mumbai, Surekha is a management consultant improving process in operations, marketing and social media marketing with more than two decades of experience to back it. You can get in touch with her at firstname.lastname@example.org