Category: Startup

How To Start A Tech Company With No Money

If you are going to start a tech startup, then you can grow it without spending any money at all. You are thinking how it is possible? Especially, it can happen in the tech or digital startup. In a discussion on Quora, a lot of successful persons shared their experience how they build a company with no money. I will point some of the important factors from their discussion. It will help you to understand the matter easily.

Know the Niche and Do not do anything excessive: It is necessary to become experts in the area of your startup. That means you have to become an expert in your niche. For example, you want to establish an IT Firm with Web Development niche. You should know the web design and development. On the other hand, you want to build a Digital Marketing Firm; you should know Search Engine Optimization or Internet Marketing very well. Then you can think to establish a company. Another key point, it is a tough work to build a tech company without keeping practical knowledge.

Now the point is- Don’t do anything which is not mandatory at the foundation level. For example, you do not need to handle Tax account or insurance. It will need to spend some money to manage the documents or opening the file. For this reason, no need to pay anywhere which is not necessary for you now.

Sell Before Starting: It is the most important area. As you are expert in your niche, you have to start selling your product. As you are working in the web development industry, you can offer the company to develop their website and give them some special discount (For example, 25%) as presale customer. Then try to take some booking money. Contact as many companies as you can by offering the presale customer. You can build a custom template for emailing.

Important to realize, as you are a tech entrepreneur, most of the time your product will be no physical existence. For this reason, you can take presale orders easily if you are really experts. If you sell software or digital marketing service, you can do the same work. If you try in some places, you will realize the matters. So think, plan and start to sell products as presale to bring some cash in your hand.

Find a Talent with Share: Now you need to manage a co-founder in your business. Notably, you can think you can establish a company himself, but it is impossible in most of the cases. For this reason, it is right decision to find a same minded people to work with you. In this case, you should take the quality of the persons. You should fulfill requirements of the newly born startup. So, it is wise to find someone who knows something which you do not know, but necessary to go ahead smoothly. At the same time, it will add value to your company.

Now deal with him how will you share the company. If you can handle all the things, start with him. Do not forget to make paper contact if possible and don’t break the commitment. Otherwise, you can’t go a long way. If you see the large startup in the IT world including Apple, Google or Microsoft, you will see they have done the same work. So, choose someone very wisely.

Promote Your Product with Relations: If you can manage a decent amount of money with presale, then you can invest some of them as marketing. As I am discussing starting a startup with no money, so I will show you the process of spending no money.

Keep connected to the Skype, Slack, LinkedIn or other professional Social Media, Group or Forum. Communicate with them and hear from them and share your story as well. In the meantime, tell about your product and request them to share your products in their connection, social media or blog. It will bring some sales to you. Continue it for several months and make good relations.

If you can spend money, then you should do the above work also. It helps to make contact with the similar minded people from all over the world, and it is very important to manage investment or selling the products with words of mouth.

Invest from the Earning: If you think all the time to work without money, the results will not be good. For this reason, you need to invest intelligently in growing your business. Always meet with similar minded people to learn new things and travel as well, it will help you to take strict and healthy decisions. Arrange the meeting with the shareholder or important persons in your company before taking any essentials and big decisions. It will help you to implement it accurately. Do not forget to think big about making your startup a million dollar’s company.

10 Tips To Launch Your Startup Faster

I have talked to launch your startup, and I will share why do you need to start it faster. You can generate a lot of ideas, but if you do not start, it will not come true. I will show you the top 10 tips for launching your startup faster.

1) Just Start: Sometimes we waste huge time planning the ideas. After some days we get another idea and pass the time on this new thing. Thus we can’t start anything. So, you have to start first from the ideas which you think this is perfect for you, and it goes with the digital time. Start today. When you want to start, do the below things.

• Find out a brandable name and register the domain. Take time here. As it will be your future and all will know it.
• Write down product plan
• Design the Overview of the company and how will you go ahead.

2) Design the Product: In some cases, we can’t design the product. For this reason, you have to work here with proper research. Make the product innovation in the market. You can sell physical or digital products which have no physical existence. It is no matter. The presentation with the excellent description and why they need it selects why you can sell the product. So, give more times here. Your reputation will depend on your products.

3) Keep some answers for later: Most of all, feel hesitation as they do not know all the things which are necessary for their business. Notably, as a man, you may not have some skills, but surely it is not your fault. If you know how to sell and how to bring the company in the profit, then you can take some answers from the experts. Don’t sit by thinking about it. Just go forward and keep in mind what you don’t know and capture it at the right times from the right people.

4) Hire Remote Workers: In the digital age, you have the quality of maintaining remote workers. It will save you lot of money. At the same time, it will help to get talented persons from all over the world if you can choose the right persons. So, it is very good to hire someone who can work from the remote. If you can find out the talented persons for you from the remote, it will save the money and time as well.

5) Manage Contractual Workers: Without taking the full-time employee on a permanent basis, managing contractual workers can bring more output for you. In the starting level, you need more work and service than maintaining formality. For this reason, you can make the contract to work with you permanently but make an agreement to work on the contractual basis for 1 or 2 years. It will help you to bring more revenue from the workers. If you get the right work, you have no problem to satisfy him.

6) Find A Cofounder: Most of the time, you can’t do all the work without a co-founder. For this reason, it is right decision to find out a co-founder who can add value and can take appropriate decisions for your business. Your quality will define if you can arrange a good team who will think like you. It is very important to bring the business to a profitable platform.

7) Find someone who will push: The success of the Apple company was Steve Jobs and he has described that he knows how to work and when needs the resources. He drives the worker for making it happen. For this reason, you need the person who will do it. You can also work for it. On the other hand, you can find someone including co-founder, friends or anyone who will work to support the team and will inspire/push to finish the work accurately.

8) Forget Money from the start: You should not think about the money for the first one or two years. You have to realize it will not bring any money for the digital business. If comes any money, you will think it is an inspiration. Most of the time, we forget the reality of generating cash you need to make the basement. For digital business, it takes more time than traditional marketing. As your service will be sold on the online, it will take time to spread your brand. Not most of the business or niche, but it needs the time to grow the reputation of a digital company.

9) Promotion: You have to keep a decent amount of money for advertising. You have to try for every possible way and even in some cases, you need to try in the traditional marketing (Place/country Basis) to outreach your business. As you are thinking for a startup, you need to consider here most of the time. You have to make the plan when and how you want to promote your business. At the same time, you need to research your competitors to know how they get the sales. You have to modify those things too.

10) Analysis Data for next Approaches: In every month after 6 months of launching of your business, you need to analyze the data of previous month. Why you are getting the sale for this product like other or why others are getting the sale not you like this. If you can keep track of this researching you can be successful. You can do it in every month or after 2/3 months.

Surely, your upcoming startup will get the life if you can follow the above things.

How to Start a Business (Legality and Promotion)

For every business, you need to do some initial work when you are ready to start a business, and you have done planning of your business. The same ways need when you are going to start an IT startup.

1) Making your business legal: For Startup, you need to manage business legal at a time for doing a lot of tasks. If you do not do it from the starting level, you need to do it now. For handling business work, you will need it. If you are doing share business, you need to do it also. Make clearance with the help of legal authorities. For example, Sole Proprietorship, Partnership, Limited Liability Company (LLC), and Corporation. In every area you have a lot of works, take the help of experts to make it neat and clean. At the same time, make it available for all the shareholder.

2) Registering your Business Name: Registering the domain name is not all for the startup. At a time, when you will think you should reserve the name for you, you need to register the business. For accessing the trademark and adding value to your business name, do the work with the experts and register the business name. It will help you to handle some work, and you have no issues which can make conflict in the future.

3) Seller’s Permit: When you will sell physical items in your company, you will need to get permission from the authority to sell it in the public places. At the same time, you need specific permission from the particular location. It will help you to avoid the hassle on the spot. At the same time, your worker will be safe from specific behaviors from the police or others.

4) Business Licence: If you register the business name and take the permission for selling the service or products, then you may not need as compulsory the business license. Though I will recommend making a business license from the specific authority for doing the business. It will help you to make the baking process efficient. You can take the loan and will help to avoid hassle again.

5) Small Business Taxes: As you are doing the business, you need to manage federal Tax file under your company. You have to submit annual tax for doing business in your location. So, you should make it for staying the safe side. If possible ensure self-employment taxes, Employment Taxes, and Excise Taxes.

6) Marketing Strategies: Your business will depend on your marketing strategies. Depending on location you need to bring some unique techniques ad it will define your credibility. If you can drive the particular attention to your promotional approach, you will undoubtedly lead the industry one time. Now maintain the below work for effective online marketing.

• Narrow down your target customer
• Develop a brand identity
• Build your online presence
• Generate and nurture leads
• Make available the marketing tools and resources

7) Selling your Products or Service: Selling the products or service is the main task for a business. If you fail here, no work can’t keep you alive. So, you need to work here directly, and promotional strategies will work for selling the products or service. Make new and actionable plan here to maintain the log.

• Set up your sales infrastructure
• Identify your sales goals
• Hire a sales rep
• Get more out of your sales activities

8) Increase Customer Engagement: Your customer will promote your business one day and the formula for growing your business incredibly, you need this. For this reason, ensure good product or service and take care of customer engagement.

• Answer the Problem quickly.
• Keep connection with the customers
• Take feedback
• Maintain FAQ page for basic guideline

9) CRM (Customer Service Management): CRM can bring massive engagement to your business if you can do it perfectly. Make the database of the customers and make the connection with them individually in their liking methods. When comes the inbound marketing tactics then Customer Service Management (CRM) plays the vital role.

10) Funding: When your business will grow then you will need the fund for increasing the service area. At the same time, if you target another area or locations with the same service, you will have more persons to grow the business. Here you will fund. For this reason, you have to focus here, if you can manage fund/loan with easy conditions. You can contact and make the connection for the below types of fund.

• Small Business Loan
• Crowdfunding
• Venture Capital Financing

Finally, Follow these 10 steps to turn your idea into a startup

At last, we will learn what the most effective 10 steps from the above discussion for turning your ideas into a startup. If you are reading the guide still now, undoubtedly you are dedicated and passionate about starting your business. I will show you the summary of the below discussion. Let’s discover it in the short bullet point.

1) Research your Niche or Target Market: Before starting the startup, you need to research the market, your competitor, and your target niche and customers. Make a question yourself will it solve any problem to the customers and do you know about the niche. At the same time, can you compete with others? Do you have confidence in your niche? Write down the answer and make a list. Here you will keep the advantages or disadvantages of the present scenario on the market. Then take the decision if you can solve the problem.

2) Secure Intellectual Property: When you are confident and want to establish the company you will need to plan for launching it. At the same time, you need to secure Intellectual Property as the patents, copyright, and trademarks. Register Brand Name and Create a logo and website to run it. Now it is time to add products or service to your requirements.

3) Work for creating Brand: The future will depend on your brand. At a time, people will buy the products for getting the brand of you. It is not so easy to make the brand. But it can surely establish the identity of you. You can grow yourself as the leader in your industry. On the other hand, you can get popularity with the brand if you can keep targetting with different approaches.

4) Legal Documents: Never forget to collect all the legal documents according to your business. It will ensure to get fund and doing business in the different places. Arrange the legal materials, seller’s permit, business license and taxes paper. For making the brand and handling with the shareholder or signing with other companies for business purposes will help the legal documents.

5) Choose a Co-founder: It is mandatory to go a long way. Time will come when you can’t handle all the work. Otherwise, if you can find a co-founder who is motivated like you and know work in your niche, it will be beneficial for you. So, from the starting of the business, look for a perfect co-founder for your business.

6) Start Business Plan: A company depends on selling the products or service. At the same time, it needs an excellent procedure to provide the service. In this case, you need to make the plan for creating and delivering the service.

7) Pick A Workplace: Creative thinking and works need a pleasant environment. It increases the activity; it enhances the power of eternity. For this reason, you need an excellent workplace to work more time without any weakness. Most of the cases, the IT entrepreneur like to work from home and they think it is good for them. Though I will suggest to try in a different place if you want to make the team. It will surely help you to work in a helping environment. At the same time, give priority to your creativity and operating power for working from home or sharing coworking place.

8) Follow a Mentor: Mentorship is very efficient for the startup. You can also stay in the mentorship, or your co-founder can do the same work. If you think you need another mentorship who will work closely with you or the team, you can do it also. But it will depend on your working process. You can keep anyone who is the experts but does not want to work with you full time, but you can use him for the weekly or monthly basis for more efficient work or practice guideline.

9) Increase Investment or collect Fund: When you will follow the above action, then your business will need more fund for increasing the service area. At the same time, you need to increase the investment if you want to spread the company with more employee or space. At the same time, you may want to take second or third office for handling more client. Surely, there needs a lot of investment or fund. So, try to make planning from the beginning.

10) Depends on Data: At last, you need to work with the previous data and experience to widen your company or startup. If the main service is IT, then adapt yourself to the new changes or technology. Surely, it will increase the brand value, and you can bring new updates to your products or service. Certainly, the data or strategies from the previous time will help to take further decisions and implementing as well.

Waiting to hear Your Success Story

Finally, I will wait to listen to the success story of you. I have discussed a lot of valuable things for building the startup and especially starting an IT startup. If you can follow the above steps, there have no chances to make any gap in information. Though depending on the product or service, you need to develop some different strategies and plan. Surely, it will help you to go ahead. If you see any unwanted typos or mistake inform me and I will update it in the next revision. At the same time, if you need any further help, you can share with us from the comment section. Thanks in Advance. 🙂