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Before you Start-up | Prime Factors of Starting-up |

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As I discussed in previous blog, globally there are 259200(approx) startups are establishes in every single day.



Such a huge number!!

As you might be knowing that, there are very few startups or businesses which remains consistant in their activities including maintaining goodwill, suffecient revenues, market capitalisation and so on and so forth.

Remaining most of startups sell-off themselves or get merged with another similar business(to servive themselves in market to pay-off their liabilities) or some of the business/startups are takenover by big reputed companies and becomes a part of their operations.

But, have you ever thought that why only few businessess get that much success?

Today, In this blog, I am going to discuss the few key factors which plays important role in any startups or business unit.

Before we jump on those key factors let's understand what does a startup or business means?

Business 
"A business is defined as an organization or enterprising entity engaged in commercial, industrial, or professional activities. Businesses can be for-profit entities or non-profit organizations that operate to fulfill a charitable mission or further a social cause."
-Investopedia.

Startup 
"The term startup refers to a company in the first stage of its operations. Startups are founded by one or more entrepreneurs who want to develop a product or service for which they believe there is a demand. These companies generally start with high costs and limited revenue which is why they look for capital from a variety of sources such as venture capitalists."
 -Investopiedia.


These are the major key factors which plays major role. They are listed as below...

1. Find a Co-Founder/s as well as Co-Working Staff.
Co-Founders and Operating team plays a mojor role in initial success.

2. Identifying Monetising Strategy. (Revenue Model : A Funding Channel)
Identifying Monetising Strategy helps the firm to get fundings on regular basis. It helps in maintaing working capital.

3. Identifying Pricing Strategy.
Identifying Pricing Strategy helps the firm in forecasting revenue and growth. It ensures that the price of a product or service is fair and helps in identifying risk associated with pricing levels.

4. Initiating Incorporation.
This include all the activitivities which plays important role in getting started.

We will explain everything individually in our upcoming blogs. 


About Start-up Series

In Start-up Series, we are trying to elaborate each and every topic related to initiating start-ups OR starting a new business. 

Stay tuned with this blog for more interesting topics.

Note

  • Articles of this series will come thrise a week. (3 Post in a week).

  • New articles will be published on Monday, Wednesday and Friday respectively.









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Location: Mumbai, Maharashtra, India

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