The world of entrepreneurship has undergone a strong expansion during its last years. More and more people want to start their own business. Online businesses are exploding, it is now easier to open a professional activity. Most young entrepreneurs begin by launching a startup.
Startup what is it?
The term refers to a new business innovative with high growth potential and able to speculate on its value future. But first, the start-up must go through a period of experimentation with the market and its economic model. We can start with a weak budget which gives a great margin error and learning.
The difference between startup and enterprise
The key difference is that a company is formed to implement and improve the business model that works. While a startup is formed to find a business model. The startup is studying ways to grow its business in the long term and in particular to inflate its income drastically to achieve the maturity of a large box.
Lean Startup
The Lean Startup allows you, on the fly, to quickly validate an idea by going face to face with the market, while
minimizing your initial investment. This is to demonstrate that your product/service, whether used, used or downloaded, is of interest to customers. To do this, you must get as close as possible to the expectations of your market, both in terms of
change only with new technologies. This is a perfectly normal iterative process undertaken by startups to improve products in real time and overcome the doubt belonging to any revolutionary project. This is a perfectly normal iterative process undertaken by startups to improve products in real time and overcome the doubt belonging to any revolutionary project.
Business Model
The purpose of the business model is to confirm the business project. It is true that it allows the entrepreneur to know if the concept he has come up with is viable or not, that the product or service he is presenting will benefit from a
potential, and that the product or service will benefit from it and be able to stand out from competitors.
In the world of startups, you can start with an original business model and end up succeeding with a completely different business model. This phenomenon is called a pivot. A pivot is the evolution of your business model, technology, product, target customer or delivery method. The modification of just one of these variables will have an impact on the original economic model, with all the structural consequences that flow from it. Thus, you will find and test your products and technologies and observe the behavior of your target customers.
be prepared to fail
In Europe, failure is often frowned upon. But it is through failure that we improve and that we can have better ideas. To launch a startup you have to be willing to fail and learn from the mistakes you make. You can make mistakes and be wrong. However, you will need to anticipate and plan for it in your business plan. Tell yourself that failure is a stage in the growth of your startup.
Benefits
Developing creativity is an asset in this type of business. Moreover, along with other factors, this character has certainly contributed to the success of SMDH. The spirit of creativity makes it possible to innovate and avoid any form of stopping at
within the company. This form of trade is appreciated for the atmosphere that reigns there. The objective is to shake up conventional practices, to simplify exchanges to improve the relationship between workers and employers. Another advantage is the flexible frame. Indeed, when working in a startup, there are fewer strict rules to follow. For example, an employee’s comfortable dress code or flexible working hours. Thus, the removal of restrictive formulas and regulations can create a motivating atmosphere at work and improve the performance of fledgling companies.
Disadvantages
Since the hierarchy of this form of business has decision-making power, it can be difficult to make a decision in some cases. The company will not hesitate to hire and promote quickly; this inevitably leads to casting errors and/or pressure that is difficult for new entrants to bear. You find yourself without the necessary financial means to carry out your projects. It is therefore not uncommon to see a number of startups declare bankruptcy after the launch phase.
In conclusion
The startup is a very good business for start. For all people who have a idea innovative and who need follow-up or help financial the startup is made for you. Be careful in this business, you will have to be ready to make a lot of time sacrifices and be ready to commit errors. For all people with an innovative idea this form of business is perfect for you.
