How To Create a Startup Company

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Things to Consider Before Launching A Startup

Naming Tips

love it

not too practical

make it personal

name should tell a story

no sound-alikess

OMC Rule

Phases of Scaling

Relationships to brands

brand identity

less risk for customer abandonment when a key salesperson departs

People to process

embed expertise into the company's processes and structure

CEO and leadership team spread their know how

"You're not going to grow until you let go."

uncomfortable for most

no dependency on a few key people

Ownership to partnership

identify leverages

important relationships

protected intellectual property

risks

your brand is not always in front of the customers

partners become competitors

form partnerships to control all steps of sales cycle

Projects to products

design products based on patterns in the delivery of services

Opportunistic to strategic

3M model

Materiality

Margin

What are the areas in which you have profitability?

Momentum

To what extent are your sales growing, how much traction are you getting, what is the market's response?

identify areas with the most demand, growth and profitability

targeted customer segments

narrow your market

Rules

Experiment

Take risks

Measure progress

set goals

achievement

Organic growth

support the part of business that makes money

new products/services take up all cash flow

long-term plan

Get help from mentors

mentors, advisors, consultants

avoid major mistakes

save money and time

Start small, scale afterwards

start hiring other people

prove the business model

Commitment

employees

partners

founder

Idea validation

business decisions

ideas, questions

real people

feedback

no assumptions

Essential entrepreneur habits

2014's Most Innovative Startups

Problems

Yours Problems & Solutions

non-existent e-mail branding

personal email branding

people are unaware of your expertise

LinkedIn profile that ranks in the top for your industry

collaborating with teams, clients and partners regardless of location, operating system or time zone

reliable solution for shared presentations, applications, document sharing and desktop sharing

poor web hosting that affects business' credibility

web hosting with unlimited bandwidth and data transfer

messy social media management content

tool that lets you schedule and publish content across multiple platforms.

Common reasons for startup failures

pricing/cost issues

competition

not the right team

running out of money

no market need

Financing

Strategic Investors

Equity financiers who get their name because they come from within the industry you are targeting and find what you’re selling to be “strategic” for their business objectives (such as somehow complementing or enabling the products or services they sell).

Venture Capitalists

Funding pros are serious players in the investing world who look to get their money and profits out as quickly as possible. 

Equity Financing

Private or “institutional” investors in exchange for an equity ownership stake.

Angel investors

Private investors who have earned their name “angels” by typically being friendly and patient about their investments and by providing their business wisdom and valuable relationships along with their money. They often like to invest in groups, each taking a piece of the deal. Comfort zone: $25,000 to $1 million.

Friends & Family

Business has risks, and preserving your relationships with friends and family is at least as important as your business opportunities.

Comfort zone: generally less than $50,000.

Grants

There are also numerous state, regional and minority grant opportunities available. 

Debt financing

Banks can provide you with a loan or line of credit that comes with a repayment schedule and an interest rate.