Startups 101 - The complete insight to starting your own business in 2019!
Content provided by Dotsquares
For anyone who is thinking about starting their own business, it is highly important be able to set yourself a clear path to success if you want to survive in any industry. So as to help and guide all the new business minds in 2019, we are going to give you a crash course in “Startups 101” to support you on your journey!
Whatever your concept is, you need to think of how is sets you apart from the competition. With an over saturated digital market, you need to establish what it is that your business can offer over the others. Competition is what drives businesses to move forward with new ideas, striving to be the best in their field. As entrepreneurs we look to our competition to inspire us with ideas around “what and what not to do”. Once you have established your business concept, and who or what is your competition, you then need to think of how you want to transform it digitally, whether this be creating a website, app, game or any other type of software.
Before you move onto the development stage, you will need the funds in place to do so, however to make sure you have accounted for everything, you will need to plan out your budget effectively. For this you will must do some research and ask for estimations, on what it will cost to build your website, app, game, which ever it may be. Then you will need to think about what it will cost to market your business on the various different platforms available. Once you have rough estimations of these, including anything else you need in between such as hosting and maintenance, you will then have a rough figure to try and obtain the funds you need to make your vision a reality.
Unfortunately nothing comes for free these days, and starting a business in no easy task. However there are plenty of options to consider to help get you going for those who are start-ups. Bank loans are the most common way to get money fast, however you will need a good credit score and some loans are limited to the amount you can borrow. Another option is a Venture Capitalist which is provided by the bank to help you kick start your business, or an investor which will provide the funds for a percentage of the profits. There’s also Crowd Funding where you can ask a large group people to fund your idea by donating small amounts of money, however this can be a particularly slow process.
Once the funds are obtained and your website, app, game is complete, it’s now time to move onto the marketing to give your brand a voice. There are a variety of digital marketing services that can help build your online brand awareness such as Search Engine Optimisation (SEO), Pay Per Click (PPC), Social Media Marketing (SMM), Email Marketing, App Store Optimisation (ASO).
These are some of the main factors you need to carefully consider when starting your own business.