Have you ever wondered how much does it actually takes to your business to grow? Do all that passion and endurance does really help your start-up to grow? Merely purchasing a domain, building your website are not the only tools for the success of your business, it requires “A LOT OF HARD WORK” to see your start-up reaching the height of success.
Your new start-up will not achieve overnight success. It will take serious dedication, hard work, money and some sleepless nights and most importantly failures before getting success. After meeting a lot of successful entrepreneurs, we would say it will take at least 4 years to get pointed towards the real business and start getting return-on-investment from it.
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We have compiled the list of major tasks involved in setting a successful start-up. Have a close eye on these tasks.
Creating the name of your business:
The most important task when launching a new start-up is to create a business name and a domain name. Through this, you will be known everywhere in the industry and over the internet.
You start-up name is essential for everything, advertising, marketing or creating your website. So, take your time and plan a perfect name for your start-up.
Finding a proper location for your start-up:
If you are going to work from home on your new start-up, then what are you waiting for? You can start working on it immediately.
But, if you need a proper location to start with, it will take at least 2-3 months time to hunt a perfect pace for business. And if any space you finalized requires renovations, then it may take some 6-7 months to get a perfect location for your dream start-up.
Finding a financial funding source for your start-up:
Money! This is a very crucial and most important factor to look upon. Without money, you cannot start your business plan. Finding the right funding sources for your business may take several months. So, we advise you to start searching for it from initially when you plan to launch your start-up.
To better understand the average time requires for having a successful start-up, have an overview of the year by year steps taken by a start-up to reach the goal. We already mentioned that it takes at least 3 to 4 years to build your brand and have a successful business of your own.
But, how to achieve that success can be understood by this analysis.
Year One – Everything Seem to be a Winning Step:
When you initially start your own company, there are dozens of moments to celebrate upon like:
- You finally decided to incorporate your business.
- You have launched your own website.
The first year of your start-up is full of emotion. You surpass many tiny hurdles that may feel like a victory. But what it doesn’t have is revenue to start with.
That means, the first year of your start-up is just a great start of your business. There are many more things to come along the way.
Year Two – The Money Decision:
The big party time of the first year now turns into a hangover. All the savings that you put aside to launch your very own start-up now exhausted. You realize now, launching a new start-up is not a cup of cake and a win-win situation that it seems to be in the Year one.
This year includes getting customers for your business. Hunt for the ideal and long-term customer that ultimately pays off.
Year Three – The Game Time Decision:
The excitement that once had of starting your own business has transformed into anxiety now with very questions popping up in mind whether the decision of launching your own start-up is the right decision for your career.
Validate your idea by focusing on these points.
- Ask yourself if you can go with the same pace for the next 2- 3 years. You know what you have signed up for, so give it a thought and decide if you want to continue or not.
- This year is not about running a start-up, it is about preparing yourself to run an ongoing business in the growth stage.
You have to decide whether you want to continue or not.
Year Four and Beyond – Where the Miracle Happens:
If you overcome that fear of losing everything and focused on working hard, then this year is all about understanding that it actually takes years to find your footing and it’s normal. Turn your failures into success.
You have to fight the tough times to run a real company. Several factors are involved in your business that took so long in getting into the right direction like customer acquisition, brand message, management team and so on.
Success Stories of Some Famous Start-ups:
Here we are sharing success stories of some famous start-ups which took them several years to become what they are today. Learn from them and achieve your goal.
- Microsoft – Microsoft was founded by Bill Gates in the year 1995. The aim is to develop and sell the basic interpreters for Altair 8800. With continues hard work, six years later Bill Gates managed to sign a contract with IBM to provide IBM PC based operating system.
- Google – Founders of Google- Larry Page and Sergey Brin started working on it from the year 1996. After three years, in 1996, only a few people know about it. In another five years, Google gone public in 2004 with a capitalization of $23bilion.
- Amazon – It was founded by Jeff Bezos in 1994 and it took him three years to become a multibillionaire. The business plan for Amazon was very rare. Bezos didn’t expect any profit for four to five years, but their strategy worked and he reached the success within 3 years.
It takes businesses and start-ups some time to come back from the brink. When you start something new, expect a challenging and a long journey. Have patience and keep up the hard work to get the desired success.
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