[Sri is the founder of Yulop and in this post, he shares his tips on building the right startup team]
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Have an Idea? Wanna startup? Read on.
It’s really not that bad getting a good idea, but its always good to get an overview and actually understand the market feasibility, and also to propagate with building on the idea. It’s better to get involved and discuss with known people/mentor around and always important to go for cutting edge technologies.
When you have a plan to implement all your forethoughts, its always essential for people around you, to know what a you are building or looking to build that could probably change the way you live. Most start ups either succumb at infancy stages due to lack of optional credits or get involved in value addition by selling to a bigger firm. In order to make a splash as a successful product company,trust me its takes everything out of you!
When you plan to build something new, understand what market has to say , eventually that is where your credit lines are defined, its easy for anyone to get an idea, but to move ahead with plans and strategies it takes something else. When an idea evolves, try to push it further to understand the market segment; Or think of it this way – if you could come up with the product in next 2 years how it could be unique in this world?
There are only two things which sells in this world “SEX and the other being UNIQUENESS“. so choose which suits better at your mode!
Right Idea and the Right team:
Once you are done with seeding up an idea and start building the team,don’t pick unknown commodities! To survive in the long run, you need close friends and close relations on first guard.
Team makes all the difference – To have a right team to drive through, your team should comprise of your close associates, and not people whom you have met on a social networking site or in a Chat room sessions.
An idea can be sowed by anybody (be it a computer scientist or a MBA holder), but what actually matters is its execution – where you have reached with planning and how well you could progress in stages to make it the best activity of your life.
We in India, being in a contemporary service industry we always think that we would need a team of 100′s to build applications,on a huge enterprise level. Indeed its true, but to go ahead and build a product, it’s not necessary to have a huge team, you just need smart people around.
Hint – Google was built by two, eventually enhanced by more.
To start only with a attitude to sell to someone else, I’d consider it normal – but you bring good things in life ONLY when you are totally abnormal. You’ve got to posses passion, you have to dream in building new things, in having more self confidence and the next thing to sleep over it to make things look beautiful.
Frequently Intriguing Questions [FIQ]
I have an idea, but i am associated with another firm,how do i proceed?
I am happy you can think, never mind working 100 % for your respective company, but as we know Indian servicing industry has very less space for your creative thoughts, so keep pushing it unless it doesn’t affect your actual work, Its very simple if you are building products which is variantly unique form your servicing factors,there no law to stop you in this. Don’t worry about your senior Managers they can’t charge you for this.
I have a brilliant plan ready, but no Investment?
Well, Angel Investors are born for the same reason, when you have something which could turn the tables, there are always people who are looking for such bright people to make there investment worth, but again be extra cautious not to sell your idea for few pennies!
Now I couldn’t find the investment, but I need to proceed?
Yes you could very well start on relatively small scale, all good things comes in small packages. The key for any startup is always believing in what you could do than to compare yourself with all existing players, all human beings on earth are unique so as you, so start yoga, read Novels, and if it really helps you grow your confidence then i suggest listen to Eminem and watch Federer play!
I have an idea, but I don’t have a team member?
I always stress that you should share the idea with close friends or people whom you could believe and trust, IDEAS don’t take shape without discussion, if you want me to believe that you developed a kickass idea all by yourself, stop kidding.
I am MBA holder, have an idea, but i don’t know coding?
Well, coding isn’t ROCKET SCIENCE, but yet i suggest you being on a Management platform please don’t start coding. You have to think about feasibility reports, in pane points, in understanding the market/how to monetize and other stuff. Your options would be to hire or get associated with people who are coding gurus – share the wealth with them.
I am a coder, but don’t have Marketing Skills?
Well, its good you can develop products, but without effective marketing you can’t really take your products to new level. I suggest that you get in touch with your close friends, who have some strategies in mind for marketing and who can build good ways of communicating and eventually making your product worthwhile.!
Finally, I am done with planning, implementation, and launched product?
Don’t look for acquisition, initially building a product company takes a toll on you, but when it grows to new heights you will cherish the fruit of your labour – after all, what you sow shall you reap.
Thats it !! I’m sold to starting up on my own. What with all the confidence, great idea for a product, diverse interests from my current job and all that already in my mind , I no longer have to succumb to procrastination
uhh.. I think I’ll start after the next raise though (sarcasm) !!
But seriously speaking, what if I really don’t have some close associates to carry forward my idea, would it make sense to actually try and engage some netizen (well-known and without a bad reputation, yet only an cyber-acquaintance ?)
Hi Sri,
You have given a good insight on startups, and the result is people like raseel who have started to think the otherway,,
I just wanted to add one thing, how often we come across something and burp out the words “i had once thought about that idea”
The only difference between the people who think like that and the people who end up implementing on that idea is the first step.
Everyone has idea, but are you passionate enough to make that first step towards it?? are you willing to commit to your idea, its often like a cycle, you make the first step, thats all is required, the rest will fall in its place.
I dont mean all the finances n marketing stuffs, but once you setup your idea in form of concrete business, setup an office, you will eventually be forced to comply with the growing demands of your business,,,
if you dont, the idea will remain an idea and you will repeat the same words again in near future “I had this idea long back….”
” I was thinking on a great idea until i was interrupted by someone who was already doin it”
Pavan
White Money Consultants
093412 85157
@Raseel
Well, its always up to trust factor which leads fro a new symbol
If you could find someone , whom you could entrust all your Ideas and look to grow with it, very well.
The problem with netizen, is how viable the IDEAS could be taken to new level, and the stage of a seed or startup, you got to be extra careful before giving up IDEAS,I firmly believe its core trust factor which takes you to next
league
@Pavan
Thanks for feedbacks,
Yes, always dreaming to do things on a new level is acceptable, but to take it forward it requires lot of insight views and support from external world.
commitment to IDEAS takes lot more guidance factor to succedd!