How to Start a Startup from Scratch

Growing your startup from scratch takes more than just a clever idea and an app; it requires careful planning and hard work. So, before you even set up your business, you’ll want to do some research and preparation to give yourself the best chance of success. 

The following guide shows you how to start a startup from scratch, from finding funding and developing your product to figuring out which tech tools you’ll need (and which ones aren’t worth the money). Once you read through it, you’ll have all the knowledge you need to launch your own successful startup.

Why do I want to start a startup?

If you haven’t asked yourself that question yet, you should. Sure, there are lots of reasons people become entrepreneurs: We want to make money and enjoy being our own boss. We want to work on products we’re passionate about. But until you can succinctly answer why do I want to start a startup? 

It will be difficult for you to get started—let alone keep going once your idea has taken shape.

When should I start?

Everyone has different reasons for starting a business, but it’s impossible to talk about when you should start without talking about why. If your sole purpose is financial gain, consider that starting a business can be incredibly expensive and risky. 

Getting your idea off of paper—all those what ifs and how does it work?s—and turning them into reality is much easier said than done. It’s important to make sure you have skin in the game (money, time, energy) before you dive in. 

Otherwise, all you’ll have is an idea. And for most people with great ideas that are just looking for something to do over lunch on Monday, there are much less risky ways to spend their free time.

Who should be involved?

Talk to everyone you know and those you don’t. Pitch your idea to anyone who will listen. The more feedback you get, the better your idea will be when it comes time to launch. And once you’ve done all that, narrow down what team members are essential and which ones can fill in as necessary.

Entrepreneurs have a specific skill set they bring to each business they start and it’s rare that it includes every area required for startup success (which is why so many startups fail). So decide ahead of time who in your circle has what you need and make sure that person knows how important they are to your business – then lean on them during those early days before money starts coming in.

What are my goals?

You might have started your startup on a whim, with only half-formed ideas of what you want to do and why. That’s okay! It’s important to remember that while it might be easier to keep going than start again, your initial vision is just as valid as it was when you thought of it. 

Make sure you have a clear idea in mind of what success will look like for your business, even if that means starting small. Knowing what success looks like can help motivate you and make it easier to keep up with day-to-day tasks when things get tough. 

It also helps ensure that once you reach (or exceed) those goals, you know where to go next—and how to get there.

Who will I need on my team?

If you’re planning to work on your own, you only need yourself. Of course, building a great product isn’t easy even for one person, so teaming up with another solo entrepreneur might be ideal. You’ll have someone to brainstorm with when ideas are tough to come by and someone who can help execute on whatever project you have in mind. If you plan to bring together multiple people from different fields of expertise, forming a company or corporation is likely your best bet. 

There are many different types of corporations (C-corporation, S-corporation, limited liability corporation), but they all generally function similarly: they provide protection against personal financial risk while also affording certain tax benefits that partnership firms do not get.

If you still want a team, hire people who have a similar mindset like you and similar qualities with innovative ideas.

What is your business model?

Your business model is how you plan to make money and keep your business sustainable. Not all businesses are successful. The more efficient your model, the better chances you have of surviving and even thriving in today’s competitive environment.

Your business model might change as your company grows and changes, but it’s important to know what it is right now to give yourself something to build on. Taking time upfront to think about where your revenue will come from will help you focus on what kind of company you want to be going forward.

Can it make money quickly?

One of the most important and potentially painful things for an entrepreneur to learn is that no, your startup isn’t going to make money immediately. And, also very likely, it won’t make money for quite some time. 

This doesn’t mean you shouldn’t start your startup—it just means you need to get real about making sure that, when all is said and done, it will actually be able to support itself and eventually you. In order to do that, there are several questions entrepreneurs need to answer before they get too far down into development:

Do people want or need what I’m building? How can I build it in a way that lets me quickly adapt if I find out my idea isn’t viable?

How much does it cost?

The startup world is full of stories of overnight successes, but very few start with overnight cash. Setting up and launching your startup will likely cost thousands—if not tens of thousands—of dollars. Since you don’t know how much it’s going to take to get your idea off the ground, you might as well expect to spend as much as you can afford to. 

Your expected investment may vary depending on what type of product or service you’re starting. If you have capital already saved up, then that’s great! Put it towards launching your business and paying yourself while getting things off the ground.

In fact, there are many startup entrepreneur who have started their startup company without any investment.

Final Words

If you have made up your find on starting a startup, do read the case studies or successful startup companies, read about their concerns and challenges.  

Below are some of the few successful startups of US.

  1. Hiya (Business products and software services).
  2. Bestow (Finance).
  3. Unite Us (Business products and software services).
  4. Curology (Lifestyle and health).
  5. Dispatch (Transportation and logistics).
 

Jeff Bezos, Elon Musk, Bill Gates, Mark Zuckerberg and Carlos Slim are some of the successful entrepreneur who started from scratch.

If you want to know more about startups, do check out some of the old episode of Shark Tank US and Shark Tank India.  This is the platform were new start-ups entrepreneur come up with their innovative ideas to start their own venture.

Do check out my website and blogs if you want to learn and earn Online Earning and Passive Income.

FAQ

How do I start a startup with no money?

  1. Focus on your startup
  2. Choose the right team and people.
  3. Expand your social media presence.
  4. Collaborate with established brands. 
  5. Make every customer feel special.
  6. Keep an eye on your competitors.
  7. Make the most of tools.
 

How do I start my own startup?

  1. Start with a Innovative idea.
  2. Make a Business Plan on papers.
  3. Gather capital investment.
  4. Surround Yourself With the Right People.
  5. Make Sure You’re Following All the Legal Steps.
  6. Establish a Location (Physical and Online).
  7. Develop a Marketing Plan.
  8. Build a Customer Base.
  9. Promote and advertise your business.
 
 

What is the easiest business to start from scratch?

  1. Conduct market research. Market research will tell you if there’s an opportunity to turn your idea into a successful business.
  2. Write your business plan on papers.
  3. Fund your business by collecting capital investment.
  4. Pick your business location.
  5. Choose a business structure.
  6. Choose your business name.
  7. Register your business.
  8. Get all legal documentation cleared.
 

What kind of business can I start with no money?

  • Event Planning. 
  • Virtual Assistant.
  • Blogger.
  • Affiliate Marketer.
  • Online Store owner.
  • DJing.
  • Painting.
  • Yoga Instruction.
  • Local Tour Guide. Image (c) Zero Creatives / Getty Images.
  • Tutoring. Tutor helping one of her students.