Have you been thinking about starting your own start up?
In recent times, we have seen the many successes of start ups from the likes of Kayla Itsines and Canva. The two things they had in common was an idea and the determination to make that idea into a reality. And it’s no coincidence that these start up successors are becoming more and more prevalent. It’s simply because we are in the era of start ups. Australians are leaning more towards creative roles when considering their professional careers. A theme of being your own boss is also something we have noticed when analysing these innovators. So, to begin let’s break it down.
What is a start up?
Many industry advocates have failed to hit the nail on the head when it comes to describing what a start up is. If you don’t believe us, just ‘google it’. Thankfully, David Jackson, board member of Sydney Angels, mentor and investor of startups has described a start up in an easy way to digest. “The startup itself is typically the brainchild of two co-founders, one who is a tech expert, and the other with skills in sales and marketing, and its success usually relies on their ability to successfully attain large-scale funding early on.”.
What are some things I should think about before starting?
Well the bottom line for a start up all stems from your idea. Maybe your idea has already been done before but it hasn’t been done to its best abilities. Or maybe you have a solution to a problem. This all goes back to marketing basics of filling the gap between a problem with a solution and finding your unique selling point against your competitors.
Having a creative yet business oriented mind comes to your advantage. You want to be able to meet somewhere in the middle of being a dreamer and a schemer. With your skills as a dreamer, you might be able to build an idea that stops people in their tracks, but as a schemer you are able to get this idea off the ground. We know there are many steps in between but a confident idea and plan is key to accessing government grants now available for innovative start ups.
Why you are you here?
As a start up founder you will have to have a really compelling reason for doing what you are doing and why you are there. Think of the basic questions like “Why are you here? What is the purpose of what the company is doing?”. Once you have these answers solidified, they will serve as the most crucial foundations for any founder who wants to create an amazing team who can share your visions. Understanding what your passion is and how it aims to help people is not only rewarding but will also pave the way for you to build a powerful venture.
Identifying the core values of your company will determine how you and your team think, make decisions, work and operate. Determining core values will also make hiring your ‘dream’ employees easy. Hiring people that share these core values will strengthen your company’s culture and unify your startup and keep its foundations growing strong.
Get out there and start testing!
When creating your new product or service, it’s important to get outside as soon as you can. Get out early and test your idea with every Tom, Dick and Harry. Take on all the feedback you receive. After all these are your future customers.