Starting a startup can be tricky, especially if you’re on a shoe-string budget. There can be countless unforeseen circumstances so you have to make sure that you’re ready for anything! Before you can get anything off the ground however, you need to…
1) Calculate your costs
First thing you need to do is figure out how much money you will need to spend on company expenses, whether it’s be one-time fee to register your company or a monthly bill of maintaining working environment, have it all written down. There are plenty of free tools online that help you calculate your costs so don’t worry if your math skills are not that great. Just make sure you don’t low-ball the numbers!
2) Move fast
Once you have your business idea in mind and your budget already mapped out, start moving! Execute your business plan as quickly as possible to get yourself used to the speed of things. There are no excuses! Can’t afford a website? There are plenty of free options available. Don’t want to work from home but can’t afford office? Use kowrk to find a co-working space. Moving at a lethargic pace means you will not get as much done and it is a great way to ward off potential investors. Momentum is everything.
3) Go digital early
Once you have started working on your big idea, establish digital footprint through Twitter, Pinterst & Instagram. Unlike Facebook and LinkedIn, these social media channels don’t require details of your idea to engage with potential customers and users. Start blogging on topics related to your idea and build your brand. Whatever is your strategy; remember that it takes time for a startup to establish digital presence. So start early!
4) Tell everyone
Starting off, your friends and family will be your biggest supporters so make sure they all know what you are doing (but don’t be annoying!). These people will be the first ones to get the word out about you and they might even be your first customers; so make sure to contact everyone in your network!