01 Dec

The 3 P’s to Consider Before Initiating Your Startup!

Before going for your startup, it is essential that you keep the essential points in mind to succeed. There are many with dire need to get their first head-shot, rush for the impossible and end up getting nothing. To elaborate it more, there are unseen expenses, responsibilities and business heads to consider before actually thinking about getting bucks out of the business. And you got to take them seriously.

There are 3 P’s according to me, which you should consider before launching your startup. Let’s check them out.

People

To me – the backbone! The relation of team members and startup is directly proportional. One who performs good, impact the others and startup in long run. The idea in this factor is to realize the work importance. Hire complete geeks and professionals in work. Then get the most out of them, if you get what I mean. There is no thing as unnecessary hiring and overburdening yourself. You simply can’t take that risk. If you have the required resources in your pocket, the chances that your startup will succeed, are higher. Check out with their creativeness and smartness, their ideas will be worth thousand others! And make sure that they have passion in the work they have been hired for.

Place

Place really matters. For those who are on jobs, it is their second home. And why shouldn’t it be? Spending around 8 to 9 hours of the day at that place holds some value. So, you got to choose carefully. There is no point in opening your office in the poshest area, who’ll bear the rental and overheads? On the contrary, there is no point in opening at a poorly structured area, who’ll handle the stress? The idea is to think logically, keeping in mind your potential market, suppliers, key-players in the market, residence etc.

Provision

They say that in order to get the engine of business running at lighting speeds, you got to have money. Now seriously, this drives me back to the industrial age when mills and industries operated via many hands and money to keep the system running. In today’s world, it’s quite the opposite. I do agree there is a sheer requirement of capital to drive the business but with a little mind and objective, you can very well set your foot and cross the initial phase. The idea is to rely on crowdfunding. I am sure many know about it. It’s a way to pool funds through public on your project. There are even companies who check up with your startup’s vision and goals, and are ready to help. Even more, you can opt for private loans to help you get started.

Hope you liked my views. Your comments will be highly appreciable. :)