If you’re thinking about creating your startup, read this article to find out about 14 reasons why you need to create your own startup.
The fact that reality can be harsh does not mean that you should not become an entrepreneur. The best time to become an entrepreneur is not tomorrow, not next week, and certainly not next year. The best time is right now, at this very second, and here is why. Below are 14 reasons why you need to create your startup. If you already have a startup and you look for the crowdfunding ways, read more about this here https://ninjaoutreach.com/start-startup-business-with-crowdfunding/
#1 The Time Will Belong to You
This is the first reason because this is the reason that motivates you to create a startup in the first place.
Creating a startup takes a lot of time, but it is an exciting activity. This is an adventure that you will remember for life, regardless of whether you will succeed in it or not. You will get a lot of pleasure from all the uncertainty, victory, failure, meetings with customers, etc.
#2 You Have Sources to Create Something Out of Nothing
A few professionals have enough power to create something out of nothing. Perhaps, you have some “insane” idea in your mind that can be brought into the world. For now, it exists in the form of a sketch on a napkin or a file with a picture, etc., but in the end, it will become a reality.
There are chances that this idea will affect the lives of many people, millions of people around the world. 20 years ago, it was very hard to achieve, but today it is possible for everyone and everywhere. The opportunities to start a startup can turn up absolutely anywhere.
#3 Available Knowledge
Once, being an entrepreneur was like some secret art. In order to understand the intricacies of entrepreneurship, it was necessary to spend a lot of money to attend seminars and purchase various books on the topic.
All this can be done today too but nowadays, it is possible to study entrepreneurship in another way. You can find many real stories of successful and unsuccessful enterprises in newspapers and online.
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#4 Cloud Computing and Web Applications Allow You to Start without Much Expense
Ten years ago, a lot of money was required for starting a business. If you were planning something at least of a scale, you might need an initial cost of half a million to buy the equipment that you needed.
Even the software for internal needs cost a lot, despite the fact that the choice was not great. The software needed for development was even more expensive. Today, we have a developed system of open source software for databases and development tools, as well as a system of cloud computing.
Thanks to the progress in the software development, startup weekends (three-day work sessions with the support of IT experts, where a raw idea can be turned into a thoughtful project) became very popular.
A web service like Amazon EC2 costs money, but it can also be used free of charge to test the project at an early stage.
Of course, your own time is not free, but it can be saved thanks to libraries and working environments like jQuery and Ruby on Rails. The chances are high for that you will find whatever you are looking for absolutely for free. And if not, you will find someone, who at least can offer you a piece of advice.
#5 The Place Doesn’t Matter
Depending on the type of business and its scale, certain geographical areas may suit you better or worse. But today you can start your company from anywhere in the world and become well known everywhere
The ability to access clients is now available globally. Your team can also be distributed around the world thanks to the cloud technologies.
Do not be tempted to settle right from the very beginning in the Silicon Valley. If geography matters for your business, then in due time you will understand this. The most important thing is that you can start right now, and right from where you are without spending money to impress customers.
#6 Media Attention Overnight
In order to get the attention of the press, starting a business, it was required to hire an advertising company and pay 10 thousand dollars a month. Today, a good product can become famous overnight and attract the attention of the leading media.
#7 More Ways to Get Clients
It has always been difficult to find clients. In order to start making money, you had to spend a lot of money.
On a large scale, it will also take a lot of money today to create a great product optimized in terms of CAC (customer acquisition cost), LTV (loan-to-value), etc., but in order to start, you can use a lot of channels for obtaining clientele. They include:
- Input marketing
- Search engine marketing
- Private life events
- Platform-based distribution
- Direct sales
- Affiliate programs, and many other channels
#8 Startup Quickly Starts to Earn You a Living
Several years ago, it took years and years of unprofitable work to get to the point where business starts to bring you enough money.
Today, everything is different. You can start charging for the software and increase the number of customers at a certain (low) level of the profitability scale and quickly reach a point where even your living wage pays off. For the development team, it will be enough to create software and make a living for 6 months.
#9 Expanding Capital
The world of attracting capital is going through an interesting transition period. As entrepreneurs have fewer mandatory steps to go through, a new class of investors appears. They are engaged in increasingly small projects.
Today, you can get funding from YCombinator or from TechStars at 18k just for the idea and the availability of a capable team. If the project has a number of advantages, you can get 250–500k.
In the case of a small initial investment of about 18k from YCombinator, it is usually necessary to produce the first working version of the product that can be provided to customers for a sample.
Any amount over 18k should have a strategic purpose. If you do not know what it is in your case, do not rush to raise money yet.
#10 You Get Friends and Connections for Life
This is one of the main reasons for starting a startup. The friends you acquire will remain with you for life.
#11 The number of New Platforms and Technologies Is Staggering
Most of the platforms that exist today were not around 36–48 months ago. The opportunities for building new companies that have appeared now are truly remarkable.
Newer technologies and platforms appear, the more companies can be created on their basis over time. Without Facebook, Zynga would not be around. Without the iPhone, there would not be such companies like Square. Without the development of network and cloud computing, there would be no companies like HubSpot or ZenDesk.
#12 You’re Much Less at Risk If You Know You’re on the Right Track
Previously, it took many months and significant costs to find out if you’re succeeding. Today, things are different. You can find out if you failed, for less than 60 days.
Don’t be afraid of failures, but do not miss the lessons they bring.
Test your ideas on Amazon Mechanical Turk, talk to customers, order testing of several keywords on Amazon, and find out if you are on the right track.
#13 Regular Job Is Not So Much More Reliable than a Startup
If you are an excellent engineer or trader, you can find a great job, maybe even with a six-figure salary, right now. In addition to a stable monthly salary you can add other advantages to a regular job, but, unfortunately, no job is reliable in our world. Wall Street collapsed in almost one night and many large companies became broke quite unexpectedly. Creating a startup, at least, gives you some control over your earnings.
If you are fired, this is usually the end of the story. When something happens with a startup, you can resist. You can show perseverance and continue your business.
#14 The Worst That Can Happen Is Not So Bad
If your startup fails, you will suffer psychologically, emotionally, and financially. This will last a while.
A failure in a startup does not mean a failure in life. You will recover and come back to life so that the next day you will start to fight again.
If things go wrong, you can do the following:
- Try to create a new business
- Join another company you believe in
- Start doing something new
If something prompts you to do this, and you really believe in it, then go and do it. There should be more startups because it is the instrument of those changes that can save the world.
Jason Comp is a writer and copywriter based in Toronto, Canada. He has a passion for writing about new technologies and offers useful tips to creative individuals who want to become successful in businesses.
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