How To Come Up With Startup Ideas: First Business Steps

Milan Kordestani

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November 2, 2022

Milan Kordestani

Hi! I'm Milan, an LA based founder and writer, architecting impact-first businesses.

How To Create A Startup

If you’re ready to launch your own successful startup company in 2023, it’s time to go over how to build a startup.

Here are the 10 steps to learn how to create a startup:

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Consider your skills

Each of us have different strengths and weaknesses. If you’re planning on seeing your company all the way to launch, you’ll need to identify what entrepreneurial skills you have that will help you succeed.

For example, passion, self-discipline, and the ability to motivate others are all great assets which will help you learn how to build startup.

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Choose an idea

All startups begin with an idea. You can find your business idea by looking at what you’re already good at. For example, maybe you’re an excellent cook and you want to start a meal prep business.

You can also identify any gaps in the marketplace that need filling. If you’re troubled by the amount of food waste in the world, create a startup that addresses that issue.

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Create a business plan

Your business plan can be formal or informal, just so long as it lays out all the important aspects of your journey along the way.

This should include aspects like the problem, how your startup solves it, and who your customers are. You’ll also want to include factors like infrastructure, revenue models, and cost models.

Once you’re pursuing investors, you’ll need to provide them with a formal business plan. It is the roadmap to know how to build startup that will initiate interest.

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Build a team

Startups have the best chance of success with more players at the table. You’ll want to build a team of like-minded people who bring their own advantages that help the startup grow.

For example, you’ll want co-founders who have experience in the industry you’re entering or with creating a startup in general.

To find co-founders, you can try networking with other entrepreneurs at local events and gather a supporting team.

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Establish your startup

This is a step with many individual tasks that define what exactly your startup is going to be.

Here you’ll name your startup, choose a formal or informal business structure, and choose a physical location.

You’ll also need to do all of the due diligence of registering and obtaining the necessary licenses and permits.

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Secure funding

So, how to build startup? The main points you need to care about includes finances. You can’t run a startup without money. At this step in the process, you’ll need to determine all of your startup costs before pursuing funding.

Once you have a number in mind, you can get funding through:

Bootstrapping

Crowdfunding

Angel investors

Venture capitalists

Friends and family

Business loans

Business credit cards

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7. Set up accounting

Once you’ve begun to secure funding, establish an accounting system to manage these finances.

This can be anything from using an accountant, a bookkeeper, or small business accounting software.

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Begin marketing your brand

Marketing is how you’ll get your startup off the ground, so it’s important to come up with your own unique brand.

Design a logo, build a personalized website, and start working on a social media presence.

Begin writing press releases to start generating buzz about your company.

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Hire your team

You’ll need roles like a Chief Executive Officer, Chief Operating Officer, and Marketing Director.

Depending on what service you provide, you’ll likely also need roles such as a Product Developer/Engineer and Head of Sales.

You’ll be able to find people to fill these roles through recruitment agencies and online job boards in your industry.

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Launch away

Now is the time to launch your company and begin making sales. But just because you’ve launched doesn’t mean the work is finished–you need to be prepared to constantly adapt to changes.

This means keeping up with market trends and continuing to expand your business. You should constantly be looking for growth opportunities both internal and external.

Come up with strategies to motivate growth and define where you’d like your company to go.

My Startup Journey

When I was coming up with the ideas for my startups, I asked myself what the world needed and what I had to offer. It's about learning how to create a startup and succeed.

So, I founded The Doe (now Nota) to be the world’s first anonymous digital publication because I noticed a real need to restore civil discourse during my time at Huffington Post.

I also founded Audo to help provide Gen Z with the tools they need to become skilled workers because I believed in investing in our future.

My sister and I co-founded Guin Music to provide a sustainable record label conglomerate that puts artists before anything else.

Each of these companies was born from a specific need and related to something I was passionate and knowledgeable about.

To come up with your own idea for a startup, you’ll want to ask yourself what’s needed in the world and what kind of business you feel capable of building.

Here are a few ideas to help you on your way:

Create educational content

Start a drop-shipping business

Sell subscription boxes

Build a local grocery delivery service

Make custom clothing

Create online courses

Develop an app

Open a food truck

Make a smart appliance

Create a zero-waste product

These ideas and the steps above should give you a taste of how to build a startup. If you can spot a good idea and have the resources to make it happen, the sky’s the limit. Get the idea and you will learn how to create a startup to deliver true value.