The steps to launch a startup , is one of of the most ideal questions to ask an entrepreneur, and one of the most perfect ways to begin your entrepreneurial journey.
Having said that if you are expecting the mundane, then you can easily search the web , talk to a company secretary , or look at sites like India Filings, that enable you to startup at a reasonable price .
Right from when i was working at a corporate job for an MNC in 2006, i always pondered what it would take to launch my own firm and emulate the stupendous success that these multinational companies had achieved.
Interviews/ Discussions with most of the honchos revealed they were almost always IIT or IIM alumni, and needless to say it both increased my admiration for these premier institutes as well as caused me a bit of pain, because i was just another engineering graduate from another engineering college from one of India’s many states.
However as the saying goes Necessity is the mother of invention , and throughout my corporate stint of 9 years, i had always nursed the itch to start my own firm until the point where i just could not continue working for an IT Company that did not share my sense of vision or direction.
With profitability being the only motive in most companies, also called the bottomline i seriously began to ponder how i could change that trend and in addition to being profit making , add some value to the society i am living in. That was the incentive for me in starting my IT services firm & creative agency - Rajyaseva Solutions.
The reason i have included this overtly large prologue before i answer your question is its important you understand that the failure rate for most startups is easily 80 to 90 percent, meaning only 1 out of 10 startups get successfully funded, and out of the remaining nine, 1 or 2 might survive on their own savings and meager revenues for the period of time that it is sustainable for them and their families, before they get acquired by some other company or shelved entirely. In a nutshell, starting your own company is NOT A JOKE, NOT A HOBBY, but LIFE’s MISSION and PURPOSE, and certainly not something you should do if you have never done anything independently in your life before.
Having said that Here’s my take on the steps to become a successful Entrepreneur, which i have independently ascertained through my education of 23 years, corporate career of 9 years and entrepreneurial stint of two years and counting.
The Diagram is intuitive and self-explanatory but i will still mention the premise at each step for your easy understanding.
The attribute at the top of the Curved Arrow is the quality that you must imbibe (eg - Ambition)
The way to imbibe the same is given as sub text below the Curved Arrow (Hard Work & Experience)
Please bear in mind that the above diagram is NOT a schematic on how to Startup , but how to become a better Entrepreneur and launch good startup initiatives. I hope you realise the difference between the two, coz a few entrepreneur’s think its the former.