Advice for Creating a Startup
According to Forbes, the median age of startup founders is 27. You're never too old or young to get going on creating the company or product that you have dreamt about. Try this career advice and make your startup dreams a reality:
Consider having an advisory board
In order to garner helpful advice and insight into the industry you are looking to get into with your startup you may want to think about establishing an advisory board. This group of people should consist of individuals who have been in the industry for a while and can offer valuable thoughts on things to avoid as well as hints and tips for making your way as a new business.
Self-fund if you can
Garret Camp, the founder of Uber and StumbleUpon told Forbes that he recommends staying self-funded for as long as possible. Instead of spending all your time looking for backers, market your product and company to consumers and do what you can to better your startup. The sooner you receive funding from anyone other than yourself the more quickly you lose some creative control and focus.
Learn from your customer base
Ask potential customers what they want. Learn from their wishes and needs and apply that to your website, product design and approach to customer service. Create a focus group to really hone in on the consumer's needs. Also learn from what other companies in your market have done wrong. There are valuable lessons to be learned from others mistakes.
Eric Koger of ModCloth told Inc that he recommends being able to sum up your entire business and what it represents in 60-90 seconds. This will help you to stay true to your goals and better explain yourself to potential customers and financial backers.
The employees that tend to get the most praise from their colleagues, clients and superiors are the ones that go above and beyond what's normal to get things done. This is a seriously helpful way to approach creating a startup. Don't just do things, make them better than you initially planned and try your best to always be super prepared and over-deliver. Your clients and financial funders will be impressed and be loyal to your company for years to come.
This article is sponsored by Western Governors University, a nonprofit, accredited, online university. WGU offers online bachelor degree programs in business and online MBA programs. To find out more, please visit www.wgu.edu/wisecareers_business