There are plenty of startup companies that gain their success in this digital era, no wonder that many young entrepreneurs are interested – and feel challenged – in starting a startup company. But building your own startup company is not easy. You need to do research first, or else, you will lose the competition in the business world. In this article, we will help you by providing tips on how to build a startup company.
Starting from the Problem
Many experts say that in starting a business, you should look at the problems that exist in society. This is the best way to build a startup company. For example, when you see the people’s problem regarding public transportations, you can try to start a company providing transportation services. Meanwhile, if you see many people get in trouble when they have to move from their old house to the new one, then you can start a company that offers them a hand to move the household stuff.
Business ideas can be found anytime and anywhere, but the main problem is how you use the idea to run a business in real life. After you looked for problems, you should observe the people (target market) who face a difficulty by the existence of these problems, then communicate the solutions that you have to solve them. Of these three things, you can conclude whether or not your idea is worth trying.
Whatever is done, make sure to always do research before making a decision. You must always have evidence to support your decisions, not just relying on instincts or personal opinions. For example, before determining the social media that will be used to market your business, try to carefully examine whether or not your target customers use the social media, how often they use social media and what they usually want to find through social media.
Having a big vision
Successful businessmen will always suggest you have a long-term vision and mission. Not only should you think about a business that is currently built, but you should also have a formulation for its development. Investors will be interested when we have a big vision and mission.
Being careful when choosing investors
When your startup company has grown and many investors offer assistance, you definitely need to be careful. Do not get investors only for now, but consider the business development in the future. When you do not share the same vision and mission with certain investors, you should look for others because it will greatly affect the development of your business in the future. When a startup has good value and products on the market, there is no need to be afraid to lose investors.
Every business that starts with careful preparation will certainly develop well. As an entrepreneur, you are required to continue to be creative and have new strategies or improve existing strategies. Always have a consistency to make your customers easily recognize your business.
Asking for feedback
To successfully build a startup company, you should ask for feedback from your startup users. It is necessary since you need to understand what is demanded and needed by your audience. After knowing what to do to successfully build a startup company, you may want to know what are the best startup companies in the world that may inspire you to make a move.
The Best Startup Companies
- Uber (United States)
Uber provides vehicle rental services through a modern application and they successfully make a huge amount of fresh funds from their investors. The amount of funding they earn is more than 7 billion US dollars.
- Xiaomi (China)
Xiaomi was established in Beijing, China, in 2010 by Jun Lai. Xiaomi is considered a dark horse in the production of Android phones. In fact, they manage to gain an amazing valuation, which is 46 billion US dollars.
- Airbnb (United States)
This is another infamous startup from the United States. Airbnb assets are measured to reach more than 25 billion US dollars. Many giant investors like Sequoia Capital and Andreessen Horowitz invest their funds for this startup company without any hesitation after they analyze its potential.
- Snapchat (United States)
Snapchat is actually a new startup that was established in 2012. Many big investors like Yahoo and Alibaba helped this new company to develop by pouring their fresh funds. In 2016, this startup company could raise the fund to more than 1 billion US dollars, and its valuation reached 16 billion US dollars.
- Pinterest (United States)
Who doesn’t know Pinterest? It is a social media established in California by Ben Silbermann in 2008. Amazingly, this startup company managed to raise its funds up to 1.3 billion US dollars and reached valuation around 11 billion US dollars, making it a strong competitor of Whatsapp, Facebook, and Instagram.