How do I start my company?
I have an idea. I started Googling for investors with immaturity. Well, once I got matured enough I thought first starting a company on my own with the little money I have and later I can find investor if required.
I am bit confused almost... I have few steps but I can't sort them in a manner. Can anybody do it for me?
a) Should I first start a company on my own and then should I search for investor for international expansion?
b) Should I first find investor to start my company wide at the seed stage itself?
c) Should I start my company with my money and once its on track shall I sell it for huge money and should I start a big new company?
d) Or should I sell my idea and make money to start a new business with new idea?
e) Should I catch a similar company in good stage and talk to them for partnership?
f) Should I find a equity partner cum investor to be risk free?
h) if you have any please add here what should I follow? Which of the above makes me a successful business man?
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Hey Gimp, thanks for your question. I think its really cool that you've caught the entrepreneurial spirit. As with many people who are interested with business, you have no clue what to do first. Ya, I've been there, and hey, I still do that. Business is hard to navigate, and don't feel discouraged by the confusion. I'll answer below. – Ryan Chatterton 13 years ago
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Thanks for your encouragement Ryan. Read my new question here http://www.brightjourney.com/q/manage-company its still embarrassing than this question. But what to do I have to become a successful business man. And as you said "don't feel discouraged" I never get discouraged :-) Thanks again. – Gimp 13 years ago
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@gimp: Also, looking at so many questions posted by the you in the last hour, I'd recommend you to take a look around on other questions already present here, as some of this stuff is already covered, and you'll also come across other useful insights. – Atul Goyal 13 years ago
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@AtulGoyal: I'm for people posting as many questions as they want. This website isn't about a repository of information, it's about an interaction. There is a huge difference between somebody reading how somebody else did something, and getting advice on your specific question. Sure, it's hard to answer the same question 50 times a day, but that's why you're here, to answer questions and help people. Atul, I respect your perspective, but I have to wholeheartedly disagree with you. – Ryan Chatterton 13 years ago
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@gimp One last thing. You should read Delivering Happiness by Tony Hsieh. It talks about his life and how he started LinkExhange and invested in Zappos, ultimately becoming the CEO. There is a lot of insider insight here and it is a true source of inspiration for any start-up. – Ryan Chatterton 13 years ago
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@Ryan that's fine, ofcourse you're free to disagree with me :) but regarding "hard to answer same question 50x a day, but that's why you're here,..." ok, here I'm confused, ofcourse I'm here to help people but that doesn't mean they necessarily have to ask a new question and that's why there is a mechanism of closing duplicate questions on SE sites. Though I didn't mean to say that this is a duplicate question but as I said in the last comment while looking at other questions one will find useful insights which he might not himself be able to think and ask. That's my way of helping someone. :) – Atul Goyal 13 years ago
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@Atul - Can you please show me a partial duplicate question? At least 50% that matches my question. Before posting a question I went through others questions too. – Gimp 13 years ago
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@Atul Ya I get what you're saying. I, for one, am the type that disagrees with the question closure policy. I will actively fight to keep questions open due to duplicates, and will always answer duplicate questions if I'm around. I totally agree with linking new users to old questions if the questions are similar though. Seeing that somebody else had the same or similar problem is really insightful, but I still will give them an original answer as often as possible. Just a personal preference. :D – Ryan Chatterton 13 years ago
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@Gimp I don't think he was saying that your post was a duplicate, just that you were posting a lot of questions at once. – Ryan Chatterton 13 years ago
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@Ryan - Well Ryan, as you are saying to Atul about duplicate question. There may be a duplicate question but I hope there will be never a duplicate answer. And everyday everything gets updated. The same even the answer too gets updated because its business oriented discussion(s). – Gimp 13 years ago
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@Gimp: cool down, the comment was not at all meant to offend and I didn't mean to say that you're asking duplicate question otherwise before posting my comment I would have flagged your question! Coming back to the reason why I was saying to look around was that -like take example of the answer posted by Ryan below, there is nothing new in this answer. I'm not saying that you shouldn't have posted this question or he shouldn't have gave that answer, even I'd write almost a similar answer. It's just that when you browse around you'll find interesting insights. Period. – Atul Goyal 13 years ago
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@Atul - Well said. Thanks... ! – Gimp 13 years ago
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And settled!.... – Ryan Chatterton 13 years ago
2 Answers
Of the options listed here, there is only one that makes sense. You need to build it yourself. Take whatever resources you have, however limited, and start today.
There's a few reasons for this:
-Execution is the most valuable part. Ideas aren't worth a lot, what's worth money is the ultimate execution of that idea. Think about all the different web browsers. Which is your favorite? Anybody out there using Netscape anymore? The web browser idea is the same across all platforms, but the execution of the idea is completely different. We pay for execution.
-Investors won't invest in your idea right now. You're idea isn't worth a whole lot. I tell this to people all the time because it is absolutely true. Right now, your idea is intangible. People can't see it or touch it. Until you build it out to where people can experience it, they won't get it.
Don't be discouraged here. If you're idea is great, and you love it, then you should be damn excited to work on it everyday. You should be stoked to learn the skills you don't have because you can't hire it out.
Remember this community is here to help you every step of the way. And we want to see you build it.
Watch these videos:
Gary Vaynerchuk on getting people to care about your idea and working your ass off Derek Sivers on ideas vs execution
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ahh I was about to post my answer very similar to yours but...you beat me to it :D @Gimp: Nice advices for you in this answer :) – Atul Goyal 13 years ago
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@Atul - Yeah! I agree with you. Perfect answer. – Gimp 13 years ago
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@Atul Ha ha! Awesome, sounds like we think alike. Hope that's a good thing. :D – Ryan Chatterton 13 years ago
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@Gimp: you might also want to consider accepting answer if you find it good. (same applies to your other questions as well) :) – Atul Goyal 13 years ago
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@Atul - Yeah! If I mark it as accepted answer. I will not get any further answers. I need 2 more days then I will finalize all the answers and will mark the best answer as accepted one :-) – Gimp 13 years ago
what should I follow? Which of the above makes me a successfulTo add to Ryan's answer I'd also say that there is no best path to success. You just find "your" best path.
business man?
