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Best Guide In Creating A Successful Startup In 2022 - blogger uche

A startup company is a newly formed business with particular momentum behind it based on perceived demand for its product or service. With intentions to grow rapidly as a result of offering something that addresses a particular market gap. At its initial stages of business founders normally finance their startups and may attempt to attract outside investment before they get off the ground. Funding sources include family and friends, venture capitalists, crowdfunding, and loans I will be explaining this funding sources meaning soon. Read on


Types Of Startups ?


I’ll explain the different types of startups in the briefest way:


Small business startups – these startups are small business ideas like your mom’s shop . example of this can be a dry cleaning shop.

Buyable startups – this is a very unique type of a startup their founders tend to grow them widely and 75% of these startups are in the tech and software niche . You’ve seen or heard scenarios where a bigger player company acquires a smaller one for millions of dollars if not billions in some cases. sweet money right ? But building a product worth billions isn’t going to take feebleness lol . Buyable startups build to be bought , that’s their behind the scene aim an example for this kind of startup is Summly app .


Scalable startups – this in most cases can refer to some product or business apps. the moment they are able to reach a particular user threshold they’ll be able to scale through mostly by taking funding from angel investors , family members or and friends. example of this type of startup would be Facebook in 2004.

Offshoot startups – this is simply startups that branch off from their parent companies . they are not built from the ground up they are offshoots of their parent company.

Social startups – 90% of startups today are money oriented and growth obsessed ! but social startups are quite different from them . social startups tend to solve problems but not for profit ! example of this kind of startup would be code.org a startup created to create a more tech educated community.

Some Startups Niches :

•Software (SaaS) and technology
•Marketing and advertising
•Healthcare
•IT
•Insurance
•Education
•Real estate
•Environmental and energy
•Retail and ecommerce
•Blockchain and cryptocurrencies

What You Should Consider Before Launching A Startup:

You don’t just randomly create any startup because you wish to ! there are hundreds of thousands of startups or millions of startups on the United States but studies show that 97% of these startups crashes before they even start. only 1.5% make it up to 10yrs as a successful business . This shows that there are some challenges most startups face which are ;

Below are some factors that affects Startups :

• No Market Need
• Running Out Of Cash
• Not The Right Team
• Get Outcompeted
• Pricing/Cost Issues
• Poor Product
• Need/Lack Business Model
• Poor Marketing
• Ignore Customers
• Products Mis-timed
• Lose Focus
• Disharmony On team/investors
• Pivot Gone Bad
• Lack Passion
• Bad Location
• No Financing/Investors Interested
• Legal Challenges
• Don’t use network/advisors
• Burn Out
• Fail to pivot

Taking a close look at the above you’d understand the challenges most startups go through , technically all startups face 30% of the above listed issues but they are able to scale if they get things right. When I started exedox the first challenge I had was building a reliable team , a team that has the vision and dream , the team is the most essential part of your startup . Having a good team structure helps you balance and gives the public an impression of professionalism. So my personal opinion for you is to build your team. You might be wondering what , why and how you can build your team don’t worry blogger uche got you covered , Read on .

 

Ibrahim Buhari

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Thanks for sharing
A startup company is a newly formed business with particular momentum behind it based on perceived demand for its product or service. With intentions to grow rapidly as a result of offering something that addresses a particular market gap. At its initial stages of business founders normally finance their startups and may attempt to attract outside investment before they get off the ground. Funding sources include family and friends, venture capitalists, crowdfunding, and loans I will be explaining this funding sources meaning soon. Read on


Types Of Startups ?


I’ll explain the different types of startups in the briefest way:


Small business startups – these startups are small business ideas like your mom’s shop . example of this can be a dry cleaning shop.

Buyable startups – this is a very unique type of a startup their founders tend to grow them widely and 75% of these startups are in the tech and software niche . You’ve seen or heard scenarios where a bigger player company acquires a smaller one for millions of dollars if not billions in some cases. sweet money right ? But building a product worth billions isn’t going to take feebleness lol . Buyable startups build to be bought , that’s their behind the scene aim an example for this kind of startup is Summly app .


Scalable startups – this in most cases can refer to some product or business apps. the moment they are able to reach a particular user threshold they’ll be able to scale through mostly by taking funding from angel investors , family members or and friends. example of this type of startup would be Facebook in 2004.

Offshoot startups – this is simply startups that branch off from their parent companies . they are not built from the ground up they are offshoots of their parent company.

Social startups – 90% of startups today are money oriented and growth obsessed ! but social startups are quite different from them . social startups tend to solve problems but not for profit ! example of this kind of startup would be code.org a startup created to create a more tech educated community.

Some Startups Niches :

•Software (SaaS) and technology
•Marketing and advertising
•Healthcare
•IT
•Insurance
•Education
•Real estate
•Environmental and energy
•Retail and ecommerce
•Blockchain and cryptocurrencies

What You Should Consider Before Launching A Startup:

You don’t just randomly create any startup because you wish to ! there are hundreds of thousands of startups or millions of startups on the United States but studies show that 97% of these startups crashes before they even start. only 1.5% make it up to 10yrs as a successful business . This shows that there are some challenges most startups face which are ;

Below are some factors that affects Startups :

• No Market Need
• Running Out Of Cash
• Not The Right Team
• Get Outcompeted
• Pricing/Cost Issues
• Poor Product
• Need/Lack Business Model
• Poor Marketing
• Ignore Customers
• Products Mis-timed
• Lose Focus
• Disharmony On team/investors
• Pivot Gone Bad
• Lack Passion
• Bad Location
• No Financing/Investors Interested
• Legal Challenges
• Don’t use network/advisors
• Burn Out
• Fail to pivot

Taking a close look at the above you’d understand the challenges most startups go through , technically all startups face 30% of the above listed issues but they are able to scale if they get things right. When I started exedox the first challenge I had was building a reliable team , a team that has the vision and dream , the team is the most essential part of your startup . Having a good team structure helps you balance and gives the public an impression of professionalism. So my personal opinion for you is to build your team. You might be wondering what , why and how you can build your team don’t worry blogger uche got you covered , Read on .

 
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