Startup Guide Part. 1: How to build a startup
When I was launching a startup, I remember myself looking for inspiration from other people who had been through this. Over 90% of startups fail and I wanted to understand what mistakes lead to this. But what interested me even more was what makes the rest of them successful.
The decision to start your own business is not easy. Especially when you don’t have much experience in entrepreneurship and when you work full-time.
I decided to create the Startup Guide which shows history of our startup. I didn’t want it to be just an inspiration, but rather a set of principles and values that, I believe, are key to success of any business. Each startup is somehow different. After all, it’s about building something new, innovative, not just another grocery store on the same street. However, regardless of your target market, whether you are building a physical product or not, if you already have an investor or not, the construction of each startup is quite similar.
I divided the guide into two parts. Please note that building a startup is a marathon, not a sprint, and in order to reach the finish line you will need an adequate preparation and firm foundation. In the first part, I focus on these two elements. Without them even the best idea with a huge potential can quickly fall apart. Building foundation is difficult, especially in such a dynamic and risky environment as startup. But this element is essential in creating a company.
In this part, I don’t focus on technology, your startup idea, or financial side of business. Of course, it’s important, but it rather defines the success scale. You may have the most promising idea, money and the best technology, but your startup may fail despite your strenuous efforts.