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Asked a question 5 months ago

What are the basic needs for startus

Where am I?

In StartupTalky you can ask and answer questions and share your experience with others!

Let’s see some of the basics:-

1. Belief in your idea, and select the proper teammates; as a team is the reason behind the creation or downfall of a company.

2. Never consider that your B-plan has no flaws as per planned by you or your team. For that go for the survey for your startup idea, it is the best possible way to understand the going and upcoming market for you.

3. A startup team need not to distribute the work at its initial stage. The whole team must focus on the complete execution of the work.

Generally, what we do, we distribute the work among the team which ultimately led to the separations between the team and then issues arise that who contributed most.

4. The must be good and intelligent financial projections for your startup. Decide all your future, as well as daily expenses along with the investments that you are going to make, solid assets(if any), liabilities(if any) , and most important, is that who much liquidity you possess and you are willing to engage that in your idea. Most important is that how much percentage share is divided among your team and how much the individual is contributing.

5. Most important is that are you update according to your actual project requirements.

i.e hardware, software, mode of interacting to your customers(WhatsApp, Facebook, Instagram, chatbots), your social media content quality.

6. The last and most important is that update yourself daily in terms of your business knowledge.