Top Five Startup Tips from Famous Entrepreneurs

Most of the Entrepreneurs are working hard to develop their single room business into multinational company. Motivation would always help entrepreneur to come out from their failure. Here I have discussed the top startup tips from famous entrepreneurs.

Bill Gates :

• Great Startup ideas come from everywhere. Don’t ever underestimate the ideas that you got.
• Should be Master in two skills: Selling and Coding.
• Run the company with minimum budget and reinvest the profit into the company’s operation.
• Everyone should know the reason for work. Frame the good startup culture.
• Don’t try to make the complete product just create the minimum viable product and launch. Good is good enough.

Steve Jobs :

• Willingness to take more challenge and succeed in it.
• Build the passionate team - if they fall in love with your product, everything else will take care of itself. 
• Startups comprised of members who apply a diversity of thought to solving problems are more likely to devise creative and inherently unique solutions.
• Work on a meaningful mission then billion dollar will follows.
• Customer's cannot tell you what they need. A lot of times, people don't know what they want until you show it to them.

Mark Zuckerburg :

• Young entrepreneur should get a mentor.Mentor will help the company avoid some of its intellectual property and employee compensation lawsuits.
• Give some space and power to people.
• Be smart and develop a solution for problem about which you are passionate.
• Progress matters. Do the easier things fast that would have a small impact on the overall organization.
• Keep your product Stupidly , Simple and Smarty.

Jeff Bazos :

• Create a better product for your customers not colleagues or competitors.
• Be aware to hire the right people for your startup.
• Be stubborn and flexible. 
• Don't Chase the quick buck.
• Be simpleminded (this one is good for customers)

Richard Branson :

• Give it a go. If you want to do something, have a go and do something.
• You should have more self-confidence and believe what you do.
• Find a like-minded people to run you business then you can free up more of your own time and think about moving your business forward.
• Trust your inner instincts.
•  Have a sound business model and stand out from your competitors.

Ref:

http://www.virgin.com/richard-branson/5-tips-for-a-new-generation-of-entrepreneurs

http://johngreathouse.com/

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Top 10 Books That Every Startup Founder Should Read

Book reading is the best hobby for most of the people and it helps you to enrich your knowledge. Especially startup founder must read many books to improve their product and implement some strategies to sustain.

I hope the following books which help startup founders to move on their startup to next level.Let us see the top 10 books that every startup founder should read.(It's not in order) 

1. The Startup Owner's Manual by Steve Blank

                                                        

This book is the bible of the startup.The author had discussed the step by step instructions on building successful,scalable,profitable startup.Every startup founders must have this to enhance your startup.

2. The Lean Startup by Eric Ries

This book deals with the new approach to run a startup in an innovative manner. It helps you to run a startup in different method of approach and bring your business idea into a successful and sustainable one. 

3. Entrepedia by Nandini Vaidyanathan 

It provides overall idea about the business. Here the author discussed about everything like how to get ideas, how to find our co-founders/partners, step by step approach for startup etc. This book will help you to get motivated on facing the problems.

4. Zero to One by Peter Thiel

This book helps you to craft your thinking into the different perspective and push your startup forward.It helps to fire you up and provides more enthusiasm.It was recommended by such entrepreneurs as Mark Zuckerberg and Elon Musk.

5. Hooked by Nir Eyal

This book discussed four step processes about the customer behavior. It helps you to teach like how to attract the early customers,how to get the users back etc.

6. Creativity Inc by Ed Catmull

This book describes how to build a creative culture within your startup or company.It helps you to get motivated and your team.The author Ed Catmull who was the Co-founder of Pixar animation studios explains about creativity in business.

7. Tested Advertising Methods by John Caples

It helps the founders to acquire customers by using some marketing techniques. By using this book you can able to create successful advertising features with limited revenues and it helps mostly for small business and non-profit organization.

8. Predictable Revenue by Aaron Ross

This book is the sales bible for startup founders and helps you to build a sales machine. It motivates your sales team and helps you to reach your financial goals in an efficient way.

9. The Hard Thing About Hard Things by Ben Horowitz

In this book the author gave advice to startup founders on how to build and run a startup. The author had shared some insights about the problems faced by the leaders/founders etc.

10. Stay Hungry Stay Foolish by Rashmi Bansal

Book that traces the success-stories of twenty-five graduates from IIM-Ahmedabad. They decided against going in for regular corporate jobs that most of their classmates opted for. Instead, they chose to become entrepreneurs, choosing to carve out their careers, with their own hands.This book may boost your confidence and keep motivating every day.  

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Top 7 Ways to Acquire Customers Using Online Channel

For a Startup - Customer is the heart of the product. If the customer is not interested in your product that you had created, then your product would not safe, so customer plays a major role in startup.

In the following article I have discussed the top 7 ways to acquire the initial customer for your startup. Here I have discussed the general approach (not for particular segment like College students, working professionals etc).With the help of following article you can able to acquire all segments of people.

Organic Search Traffic:

• Organic search results are listing on search engine like (Google, Yahoo or Bing) results pages that appear because of their relevance to the search terms. 
• Before get in to that you must create a sample website and post your pitch on it.
• If anyone search some content which is relevant to your product he will launch on your site and know about your product. 
• It may increase due to demand for the product you are offering.

Social Media Marketing:

• Social Media plays an important role in online marketing. 
• Most of the people in the world have social media account and they engaged with known or unknown people via  Facebook, Twitter, Google plus, pinterest etc. 
• This platform helps you to reach your product to the audience effortlessly.
• Have an account - Chat with people - Anticipate your product – Find your customer.

Email marketing:

• Email marketing is directly marketing a commercial message to a group of people using email. 
• If you have customer email id then directly send your product pitch to the mail id. 
• Create a personalized email template about your product and send it.

Content marketing:

• Content marketing is any marketing that involves the creation and sharing of media and publishing content in order to acquire and retain customers. 
• One method of content marketing might include educational and analytical blog posts on topics related to your market.
• Another method might include putting together infographics and white papers that also educate your prospective customers.
• Content marketing can be further enhanced with Organic Search Traffic and Social Media Marketing.

Video Marketing:

• Video marketing contains video content to promote your product.
• Videos help you to reach your product to more audience. 
• Create an innovative video related to your product and upload it in Video channels like YouTube,vimeo etc.

Paid Online Advertising:

• Paid online advertising has three types CPM,CPC and CPA.
• CPM is a pay per 1000 impressions on a website.
• CPC ads let you pay per click.
• CPA is cost per acquisition you pay the advertiser everytime once the customer acquisition has done. 
• This type of advertisement is offered by Google, Bing etc.

Forums Discussion:

• It is one of the best strategy to reach customer. 
• Many forum or question answer sites are available in online and most of the people are engaged in their site.
• Based on the category multiple forums are available in internet, First identify your product category and find the forums based on your product category and start engaging.
• Quora is the best question answer site now a day. In this, search questions based on your product and update the answers for those questions.

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What is Customer Segmentation? Why it is Important for Startup?

Customer segmentation enables startup/companies to accurately target tailored marketing messages to customers who are most likely to buy their products. It is the practice of dividing a customer base into groups of individuals by using specific ways such as age, gender, interests and spending habits.

Why it is important for Startup?

Generally entrepreneurs got the product idea from their instinct or problems faced by them. But they are not sure about whether the product is actual fit to which customers.

Here are the major reasons for customer segmentation:

• Startup doesn’t have time, resource, money to validate the product for a long period. If you have taken the vast segments it is very difficult to validate your product.
• Every customer is different and that their marketing efforts would be better served if they target specific, smaller groups with messages that those consumers would find relevant and lead them to buy something.
• Get deeper understanding of their customers' preferences and needs with the idea of discovering what each segment finds most valuable.
• Helps to focus your marketing on the customers who will be most likely to buy your products or services.
• Easy to build loyal relationships with customers by developing and offering them the products and services they want.
• Avoid the markets which will not be profitable for you.

So finally the customer segmentation will help you to show a route map to your startup ride. It helps you to validate your product in a quick manner.If your product is validated you are in a safe boat else you are in an ocean looking for a boat. Product validation process will discuss later.

Image Ref: http://www.dynamicwebusa.com/blog/wp-content/uploads/2014/07/Customer-Segmentation.jpg

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Top 10 Ways to Find Co-Founders for your Start-up

So now we know the importance of the co-founder for startup. Suddenly million dollar question strikes in your mind - " How do I find a co-founder? "

Here I have discussed the solution for your question - top 10 ways to find your co-founder.

Friends from school/college

• Generally friendship begun from school/college. If you have an idea to run a startup find out your old friends and convert them as co-founder.
• Rather than other people, old friends from school/college are more trustworthy.
• For instance, co-founders Zalmi Duchman and Yos Schwartz, who founded FreshDiet.com in 2006. They got to know each other when they roomed together in boarding school.

Your parents/siblings

• Starting business with your parents has more advantage. Probably you got a big support for your startup especially in finance or investment.
• If possible you can make your sibling as co-founder for your startup. Instead of other people, your parents/siblings will take more responsibility for your startup.
• For instance, twin brothers Sam and Andy Prochazka started Novosbed, a memory foam mattress company. Then, they recruited their sister, Helenka.

Former co-workers

• If you are working in a company before startup, you can able to recruit your colleague as co-founder. Because, you know very well about him and their talents.
• If you've worked together as employees, you might be able to work together as co-founders.
• For example, Ari Tulla and his co-founder at BetterDoctor.com, who had worked together at Nokia.

At meet-ups

• Tech Meetups are great places to find co-founders.
• Startup events pull in both kinds of people - technical and business-minded.

On social media

• Social media plays a vital role to connect with new friends around the world.
• You may get a better co-founder via social media.
• You can able to talk with those people very easily and quickly like chat.
• For example, Cofounders John Steinberg and Scott Hublou of EcoFactor met through the networking site.

By entering start-up contest

• Most of the contest will be conducted for Start- up. Maybe you won't leave with a prize, but a partner.
• It’s easy to choose your co-founder who fits your start-up.

Former vendors

• If you have a valuable start-up idea you can recruit vendors as your partner.
• Do a couple of projects together before you make a full commitment.  

Former boss

• If you liked working with each other in a hierarchical arrangement, maybe you can work together.

At office events

• At events you see most of the people would come with different experience and knowledge.
• Just have a conversation with them and make anyone as your partner.

Online websites

• You can find your co-founder through websites. Some people made your job easy with sites especially for finding Co-Founders.  
• For example
• http://www.cofounderslab.com/
• http://www.founders-nation.com/
• http://www.founder2be.com/
• http://founderdating.com/
• https://collabfinder.com/

Ref : http://www.inc.com/bill-murphy-jr/50-ways-to-find-co-founders.html 

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Top 3 Reasons to Recruit Co-Founder for your Startup

When you have the idea for your new startup it’s easy to get started. After you begin executing on your new idea, you realize that lot of works to be done. Starting a business is hard. Here I have mentioned the top three reasons to recruit Co-Founder for your startup.

Unburden your work:

• Many people imagine that a CEO merely sits in his office thinking big thoughts. This may be happen in big companies and not in startup.
• In startup you have to do everything to turn up your smaller startup into a larger company. 
• So you have to involve with PR, Legal issues, partnership, product decisions, marketing, product development etc.
• So much time is spending while deal with the above things. Only a co-founder can able to unburden your work and time than your friends or parents.

Long term Advisor: 

• Generally every Founder makes a mistake while running a startup, because they don’t have the experience in business.
• Founder rush up the process and make some bad decisions rapidly. Co-founder plays a role here to resolve the bad decisions.
• Keep in mind that Co-Founder job is to provide you with advice on a needed basis, which is going to be for small or big decisions/ problems.

Strong motivator:

• For every business we need a strong motivation to make the business more successful.
• Co-Founder helps you to away from your worries; he motivates you daily and gives some tips to overcome the issues/ problems.
• Rather than your friends and parents cofounder motivates you regularly and yield positive output from you.
• The Conclusion is clear: If you are creating a startup get at least one partner.

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Top 3 Essential Tips for Generating Startup Ideas

Do you want to become an entrepreneur ? Do you have a plan to begin a new start up.

If the answer is yes ! You are in a right place.

Ideas can come from anywhere. There are no hard fast rules for generating startup ideas. Some of them may turn into profitable businesses, and some may not.

Here we go!!  Below are some of the three essential tips I like for coming up with and filtering ideas.

Start with understanding the Problems:

• Having a problem is often a strong motivator for someone to buy or use a product. Many of the most successful companies start by solving a problem.
• Observe the daily activities of the people who are living around you like, their shopping habits, reading habits,ways of using the technology, entertainment etc. 
• Analyze the problems faced by the people on their daily activities and make a note of it.
• Highlight the major problems faced by people.

“ When you say "I" and "my" too much, you lose the capacity to understand the "we" and "our".” -  Steve Maraboli 

Scratch your Own:

• You can be your own customer. In fact, some say the best ideas come from one's own problem.Be observant of your day at work or outside of work. Look for tasks you find challenging or take a long time.
• Next step is you have to decide your Category / Segment - like Product for Business, IT -Companies, E-Commerce, Manufacturing, Education or General Consumer Product etc .
• Category / Segment will be selected based on the problems faced by you and people.
• If you got solutions for the problems previously,then think about the alternate solutions. If you don’t have the solution for the problems then think new.

Do Research:

• One way to learn about problems worth solving, is simply to be observant to what people complain about. Instead of picking ideas out of the sky, we're simply solving problems that we know people have.
• Start your research with real people who are all falls under your Category/ Segment.
• Ask questions like
• What’s your problem in your day to day activities?
• How should you solve these problems currently?
• If we provide better solutions what will you do?
• What are the main drawbacks of the current solution?
• Ask the questions to 100 - 300 people or more,because it helps to understand the real problems faced by the people.
• Compare the data and find out the common problems faced by most of the people. Think about the solution for the problems and validate the solution with people.
• Finally you can come up with ideas for your new startup.

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