Startup is the term banging around the world in business list. Whole world eyes on Startup businesses irrespective of failure to challenge the successful Big Business Organizations, with a concept of Low Investment High profit for useful services using buzzwords in 2016.
Big Government bodies of top countries like US, UK, India, USA, Australia and many other countries are looking to establish new startup businesses in their own country by offering different things need to establish it. Even few of Kings ruling countries like UAE, Saudi… etc. are also looking for multi-talented people in their own places to give a kick of startup’s success to their investments.
What does startup business means?
Startup means “the first step towards transforming your business idea into success.” It can be simply defined as the venture that are operated to make some innovative ideas successful. Startup is built or developed as an institution that is designed to deliver an innovative service or product under extremely uncertain conditions. Startups can be based on small business schemes (officially Small Business venture) or innovative apps (Applications Designing venture) and turning them into successful venture is what takes it all.
What kind of ideas work for startup?
Startup it-self is always supported with Innovative thoughts and it needs all the hard work and dedication to bring a success to it. Here is a Simple workflow for startup, as following Example:
“Team of our krify Venture designed, developed and are maintaining an App called CimplifyED. It was developed by our experienced Android Apps Development team. The Real World theme (idea) behind it is simplifying the gap between a children’s education and parents by providing timely notifications and pop-ups regarding studies, on parent’s smartphone.”
How a startup company can get started?
Startup is generally started with simple motto along with a team of multi-talented people. Startups can be started by individuals or by a group of people. The #first requirement is an innovative idea. Another important step is knowing how much is the budget needed. It must be estimated first and getting feedback on the idea by doing research on it or by taking suggestions from existing technology/trends experts.
Next step involved is finding or choosing a work place within budget with requirements needed around, things like Infrastructure, systems, man power and other things that will be needed to start the work.
To explain the idea how startup works, I would like to mention the example of Krify group that created CimplifyED App. “The Initiator first started with an idea to develop and then discussed it with other team members and started getting feedback on Idea. Then all required things were arranged in the office environment where to want to create their workplace. For example, Computers, Infrastructure, development resources, etc. as already they has an investor for them who had an good idea about what’s happening inside and outside regarding the idea, which was considered for development into a product.”
How a startup Works?
Every Startup works with a planned module by synchronizing with team. Coordinating with one another, with each other’s experiences and thoughts is important to implement the idea by choosing right platform. Startups often keep their thoughts and ideas concealed, fearing their idea might be stolen. For an instance, our Krify’s startup team worked as follows: “Our CimplifyED Team lead choose 5-members of with brilliant technical knowledge and great working experience. Then this multi-talented team chose a right platform for their idea to bring it to success is. The platform chosen was Android due to its reach among massed and growth over Android Mobile App Users as compared with that of iPhone Mobile App Users.
How Startups Execute/run their Work?
Startups mostly execute their work through Open Source and Secured Platform. Many Small things and Customized things needed to plan all activities within the budget.
What is Success/Failure Rate for Startups?
Definitely the Success rate of Startups is extremely less compared with the failure rate. But the Positive thing is Every Day the growth rate is increasing as per the research history. So we can say the success rate for startup is 40% for sure and failure rate we can rate as 60%.
Reasons for Startups Failure:
Here are a few top reasons for startup failure, listed based on the strength of their impact.
- Greatest ideas are evil
Great ideas are really malicious. The ideology may not remain same, over the time, as human minds keeps on changing with time.
- Not Having Brief Idea
If project owner or project initiator is not having a complete idea on the project workflow and idea execution, then the project may turn into disaster. It needs a perfect approach and research analysis for choosing right platforms and right method to develop an innovative and right product.
- Fail to solve problem
Debugging a problem plays a major role for quality control and feature release. This point serves as a breaking point for most startups, leading to their failure.
- Experience
Every startup can’t invest for experienced team to make their idea successful. As a result, the team has to work efficiently with readily available resources.
- Improper Business Model
Having a clear Business/Revenue model is a must for starting any business venture. It is not as easy as it seems. After entering into business it’s a much big deal to organize a business model. You have to work on business model very much beforehand the business starts it operations.
- Legal Challenges
After preparing everything and receiving positive feedback from advisors, family, friends, and team members But being on the right side of the legal systems, it gives you a huge strategic advantage over your competitors.
That’s the reason why big industries like Reliance are spending almost Rupees 1200 Crores on legal expenses in one financial year.
It does not mean that every startup needs to pay a huge amount on legal issues. Ensure regulatory compliance and secure agreements from all founders and co-founders in advance.
Startup Business Tips:
“Responsive Website is the essential thing for your digital marketing strategy and is the heart of your online existence.”
Boost your Startup Business through Digital Trends:
Businesses are getting boosts from digital trends like Mobile Apps Development, Website development, Online Marketing and many more. Developing Hybrid Mobile Apps give more benefits compared with single platform supporting apps, as from expected number of users. Even now we are in a 2016 Mobile Era people are more attached with mobile app, than directly through website for desktop. The huge impact over building a Responsive website and redesigning the existing websites reflects a vast impact on business success rate.
Web Development: Website development stands as a key digital marketing tip for small businesses aiming to reach potential customers and investors. It also helps in getting new ideas supporting the current projects from people around the world with same mindset.
Apps Development: Mobile And Web Apps Development Trend is supporting the small businesses hugely. It is taking a great pleasure to move the businesses forward in Technological world. We can see in numeric statistics of mobile Web users has increased vastly as compared with past numbers. (You can see in our previous article: Need of Mobile Apps Development for Businesses #2016)
Optimization Strategy will work:
Propel your business by analyzing competitors and studying successful operations to adopt a strategy-oriented approach. Leverage Digital Marketing Optimization strategies such as SEO, SMM, and PPC.
Social Media: Social media posts are often more effective than human voices nowadays. Maintaining accounts on platforms like Twitter, Facebook, Reddit, YouTube, and Google+ can greatly aid small business growth.
Internet of Things: The whole world is embracing the Internet of Things, which includes wearable technology connected to mobile phones. Even working on things related to Internet of Things is great idea for Startups.
World of Capturing Video Picture Capture:
People prioritize capturing and revisiting memories through photos and videos. Visual content has overshadowed traditional reading. Articles and posts featuring multimedia elements are more effective for digital marketing ads.
– Team Innovative Startup Ideas for Mobile App Development
