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.
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.” Startup 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. Mostly startups have their own thoughts and ideas that they won’t reveal, about how they are going to shape the idea due to concern of their idea getting 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 few top most reasons for startups failure are listed below on the basis of strength of their effect.
- 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. Most of startups fails at this point and is given as a break point.
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 keeping all the things ready and getting all good feedback from advisors, family, friends, team members, the next important bridge to cross is passing the regulatory and legal systems of the country where you want to establish your startup. 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. But you should be careful towards regulatory compliance and should focus on getting all agreements signed well in advance from all your founders and co-founders.
Startup Business Tips:
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: The Website development is one of the major digital marketing tips for small businesses to reach people and investors interested in their Business. 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: The Second step to push business to next level is following strategy oriented approach from the competitor analysis and studying the way of operating of other businesses that has grown real fast. These things are possible through Digital Marketing Optimization strategies like Search Engine Optimizations, Social Media Marketing, Social Media Optimizations, Pay per Click and many other.
Social Media: Everyone knows the fact that Social media post is more effective than a voice of human now a days. The Maintenance of social media accounts like Twitter, Facebook, Reddit, Youtube, Google+ and many other will definitely help your small business grow.
Internet of Things: The whole world moving with a band called Internet of things which includes wearable technology through wearable “smart” devices that are connected with mobile phones. Even working on things related to Internet of Things is great idea for Startups.
World of Capturing Video Picture Capture: People are interested more in storing memories through capturing a picture and making a video and cherishing it again by watching the same things later. As a result, reading dairy, reading novels, books have become an old model concept and now latest concept is posting an Article or a post with status showing captured moments and other things through video and picture, are proving to be much more useful for Digital marketing Ads.
– Team Innovative Startup Ideas for Mobile App Development