HOW TO START A BUSINESS: How to Turn Your Ideas into a Successful Venture (2023 Guide for Beginners)

By Georgia Miles

" How to Start a Business" is an all-in-one guide that provides aspiring entrepreneurs with the knowledge and tools they need to start and grow a successful business. Whether you have an idea in mind or just a passion to be your own boss, this book will guide you through every stage of the process.

• Language: English
• Publisher: Georgia Miles
• Release date: Feb 16, 2023
• ISBN: 9783988318848

Book preview

Introduction

This book is for you if you want to learn how to establish a modest business and expand it to worldwide success. This book will show you how to do it step by step. Crowdfunding sites such as Kickstarter and Indiegogo can help you establish a successful merger or acquisition. You will, however, learn how to expand your firm, go public, and have a successful IPO, or initial public offering. If you have a small business and want to learn how to draft a good business plan, this book will definitely come in handy! This book will take you to the next level, whether you are new to entrepreneurship or already have a firm. With the correct information and tools, you can take action to establish your ideal online or offline business.

This detailed book includes advice and strategies for making your idea a reality! First, you'll learn how to write a business strategy, how to take your company global, and how to become the next $10 million crowdfunding success. Following that, you will learn about a few case studies and their benefits and drawbacks, such as how Paytm dominates payment services in India, how Grab has surpassed Uber in Asia, and how LinkedIn and GitHub became popular and were bought by Microsoft. You'll also learn about a game that dominated eSports and how Coinbase—the $100 billion crypto cult—became the king of all cryptocurrency trading platforms. If you're ready to revolutionize your life and take your business to the next level, let's start by talking about how you can become the next $10 million crowdfunding success!

Chapter 1: Becoming the Next $10 Million Crowdfunding Success

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In this chapter, we'll look into independent crowdfunding, which is where you go when you're attempting to start a business, or is it seed funding after you've been able to start something? We're going to take a look at this and go through the differences between Kickstarter and IndieGoGo, but more importantly, this addresses a question that has been asked repeatedly: how can I get financed, who should I talk to, and what should I do? Is this crowdsourcing effective? So, we'll look at some of those questions, and I hope this is useful. To begin with, regardless of what you hear, you don't do anything unless you have a product, and you'll spend a lot of time thinking about it.

According to Einstein, the amount of time spent describing an issue or attempting to figure things out approaches zero. As the amount of time spent describing approaches zero, the amount of time spent figuring it out approaches infinite. So, the less time you spend figuring out the problem, the more time you'll waste spinning your wheels, as is the case here. Let us begin with a negative.

The bad publicity is that you'll read from time to time that someone put something up on Kickstarter and all these people invested, but instead these guys were paying for strip clubs and other obscene things, and it effectively sucked everyone's money. That's kind of on Kickstarter, and it depends on you putting money in. If you want to be one of the good investments there, you must meet a different criterion. When you consider IndieGoGo and Kickstarter, you may wonder if they are rivals. We're in the crowdfunding space, but they originated from quite different locations. IndieGoGo began with independent films and later expanded into other areas in cinema history.whereas Kickstarter has mostly focused on technological startups, traditional communities, and starting a small business with an idea. Both are somewhat distinct.

Nonetheless, you do not begin here. You begin by bootstrapping, which means taking a little money on your own, which does not have to be in the tens of thousands.

It might be hundreds or thousands of dollars, but you use research and spend your time generating proof of what is possible. If it's a coding project, you get together with someone who can help you code, you put some things together with some of your own money, you set up a server, as we say, and you get things going. You've achieved some proof and a bit of a milestone at that point, and you've probably identified what things will work and what things won't work, and you're not deceiving yourself. First, get some confirmation. You now have confirmation. You've undoubtedly made a few changes, and you're now ready to turn it into a business presentation on where you're headed from here. I've bootstrapped, I've gotten some validation, and I've discovered that I need $230,000 to get from point A to point B.

That is where I feel crowdsourcing can help, and I favor Kickstarter over IndieGoGo. If you prefer IndieGoGo, go here. I'm not knocking IndieGoGo; I simply believe Kickstarter is a superior venue for beginning a business, especially if it's a light tech or light product business rather than a service business. That is where their attention is directed. They have a 35% success rate, which means that the efforts that have come to completion have a 35% success rate, according to STATS. However, because they are isolated, it is impossible to integrate them with all social media, so you are forced to do your own promotion.

That, in my opinion, is what it should be. There should be some pressure on you to find validation before you dive in, as well as pressure on whether you can truly gather the people who will support your Kickstarter campaign, because you're now validating your own passion, your ability to promote it, your ability to push it, and if you do it right, and these are simple enough to be common sense, but focus.What exactly are you doing? Make a campaign that lasts less than 30 days; you won't be on the internet forever. This is a highly time-sensitive feeling, and openness attracts a lot of attention from the microinvestors on Kickstarter. That is, here is my budget, here is my timeline, and here is the validation I have.

This is not a 3D rendering of my product or my website or whatever service or product you built; this is it, and this is what we discovered, the good, the bad, and the ugly to begin with, and that is why I need $25,000 to move on to the next milestone. When you bring it all together, validation, transparency, and more validation are the keys to a truly effective conclusion. When you go over to IndieGoGo, they say they want roughly a seventeen and a half percent success rate, but this isn't apples and oranges. They claim to be more flexible socially and to have a longer track record; arguably, you could do either, but I believe Kickstarter is a superior platform. So you've gone from bootstrapping through early validation, and now you have a successful campaign with 30 to 40 thousand dollars to work with to hit that first milestone. What are your plans for the future? That brings us to the customary route. So many people ask, How do I build a flawless business plan so that I can go to a venture capitalist and acquire money? How do I make it appear right? You don't go in with a piece of paper saying, "I've never been a part of a company, I haven't done anything yet, I'm sitting here