Get Your Tech Startup off the Ground in 5 Easy Steps

As time passes, startups are gaining in popularity; there is no quicker way to get your business going. Unfortunately, although there is no truth in the opinion that all startups are destined to fail, there is a reason behind this common misconception – a lot of them end up crashing and burning. This is mainly due to the fact that getting your startup off the ground is so difficult. So, we’ve decided to feature a list of steps to make sure that you’ve done everything you can to get your small business going.

1.      Always be Professional

The first rule of business is showing that you actually mean business. Of course, some customers prefer a warmer, friendlier touch, but you should always start on a serious note to get a feel of the grounds you’re standing on. Furthermore, the face you show to the public needs to be serious, which means that your business website (social media presence isn’t enough), marketing material, as well as your social media presence need to be with nothing but business in mind.

2.      Don’t be Afraid to Ask for Advice

Whether it’s your friends and family, or a mentor, the best form of learning comes from two sources: thinking outside the box (perfect to get you out of a rut) and being around more experienced professionals. Friends and family will offer many opinions, so brainstorming is the name of the game here, while either paying for a mentor or using your own influence to get in touch with one is always a smart addition to the equation of success.

3.      Come up with a Business Plan

…and we don’t mean in your mind; you’ll have to thoroughly jot it down. The reasoning behind this is fairly simple – you’ll need a constant reminder of your priorities. Moreover, even your employees are going to benefit from this, in addition to yourself and your potential partner(s); it will give them motivation and direction because they probably want to be more than mere working bees. This is why you should present your business plan on your weekly agenda meetings – show them where you were, where you are and where you’re going as a company! Develop goals in order to pave your road to success!

4.      Write a Financial Plan

Startups are difficult to get up and running for a number of reasons, the most crippling of which is financing; chances are that you won’t be capable of covering all of the investment expenses. Australian Government offers some deductibles on capital expenses but this is not enough. Getting a partner or partners is a smart way to go, but this still probably won’t be enough in monetary terms, which is why you’re either looking at credit, or a loan. Now, think this step through carefully – start with your immediate family and friends and ask them if they’d be willing to lend you some money to get you started. If this is a bit awkward for you (no judgement here, debts have a tendency of ruining relationships), you can opt for short term business loans in Australia – they allow a quick fund deposit and loan approval and are available within 72 hours.

5.      Don’t Reveal Your Full Financial Plan Instantly

In order for the financing to go through, you need to find a suitable investor or investors, but even if they specialize in your line of work, things might not go smoothly from start. It is clear that those who are considering investing in your business are very much entitled to see the financial plan before getting in bed with you, but they will probably ask you to send it to them via email before meeting in person, which isn’t the best idea. Without you actually being physically present to thoroughly explain each step of your financial plan, you are risking them not sharing your vision, which increases the chances of refusal. This is why you need to insist that you will only display your financial plan in a face-to-face meeting environment.

These tips will hopefully get you introduced to the world of startups. Remember to keep your game face on and to learn from your surroundings, but keep in mind that coming up with a carefully outlined business and financial plan goes without saying.