How to organize a startup

Startups are called new companies with a small history of operations. Most often, this term is applied to IT and high-tech companies.

Assessing the potential of an idea

Any startup starts with an idea. It is an innovative promising idea that is one of the key keys to the success of a future enterprise. But before you closely start organizing a startup, you should comprehensively and thoroughly evaluate its potential. In particular, to conduct its own marketing research, which should provide answers to such questions as the demand for products from consumers and potential points for sales growth, which competitors are present in the market, factors affect consumption, etc.

Of course, it is also worth focusing your attention on the indicator of potential profitability, project payback, i.e. evaluate whether the startup is economically feasible.

Already at this stage, it is necessary to try to describe as accurately as possible the model of work of the future startup. How the new product will be promoted, how public opinion will be formed about the offered products, what will be the competitive strategy, what will be the uniqueness of the proposal, how will roles be distributed in the team, etc.

Company registration and team building

Before starting work, you must register a company or yourself as an individual entrepreneur. If an entrepreneur is aimed at long-term development and attraction of investments, then it is better to register in the form of LLC.

Many start-up entrepreneurs underestimate the aspect of having a professional team. Indeed, one person cannot equally successfully fulfill all roles - to develop a product, engage in its marketing promotion, sell it, deal with legal and accounting issues, etc. For investors, having a close-knit team with professional experience in certain areas of business development is one of essential criteria when deciding on the allocation of money.