You've been laid off. How can you turn that experience into a successful startup?

If you don’t have emergency money for at least 18 months and no debt and no second income to rely on - I do not recommend get you started unless you had already been working in your business as a side hustle and have some clients or your co-founder has cash. I’m not saying it’s impossible to get started I’m just saying it’s hard to keep going on the entrepreneurial journey when you’re worried about your lights cutting off or your car getting repo’d. I would say assess your risk, assess your God-given talent, assess your network and then decide if you have the support you need to move forward and if you do, get started!

I took my layoff as a chance to chase my dreams. I turned my idea into a business and now I'm my own boss! I used my skills to solve a problem I cared about and it worked! You can do the same - just believe in yourself and go for it

Imagine que você foi demitido do seu emprego. Em vez de se desesperar, veja isso como uma oportunidade para iniciar sua própria empresa. Aqui está um plano simples: Identifique sua paix?o: Pense no que você realmente ama fazer. Seja escrever, programar, cozinhar, ou qualquer outra coisa. Encontre sua paix?o. Encontre um problema para resolver: Identifique um problema que muitas pessoas enfrentam e que você pode resolver com suas habilidades e paix?es.

Validate as fast as possible. You need insights that will help determine your product or your service. Every day counts. Use surveys, build a landing page, talk to your potential customers and be prepared to pivot.

Take your layoff as an opportunity to talk to as many people in your ICP as possible,gather pain points and create the strategy to have your MVP. This would lead you to be strategy oriented, have your goes in mind and have a product market fit while you become the founder market fit!

Idea validation is essential for any startup because it really break the perspective of founders that they have in mind which act as bubble and hides the reality

Implement a strategic validation process to actualize your idea, utilizing free resources like LinkedIn to garner insights and evaluate interest. Develop a persuasive landing page and waitlist to assess demand, followed by price testing with a premium product or services showcase. Achieving some enrollment verifies your concept's viability without requiring financial expenditure beyond time. If validation is insufficient, refine your strategy or target audience and solicit constructive feedback from new individuals.

Validating your idea - doesn't mean start building. Validation has to have a funnel, the first stage at the top is just the idea - use freely available tools like LinkedIn and ask questions with "what if", "imagine", etc & collect responses. Then create a sample landing page with an offer and users should enroll into a waitlist. If you have enough of those next is the price testing - create a deck to explain the premium product and test price. even if 10% of those in waitlist enroll for a paid version you have case. Have you noticed, you have not spent a penny so far (other than your time). If you don't get any validations either change the offer or change the ICP. Meet people whom you don't know and ask them to comment.

Just because you can do everything doesn't mean you have to, one person can't run the company , strong team act as strong backbone for any startup where each member is important and valued

Critical steps highly recommended are: - Skill inventory (Technical, Functional, Management and Leadership) - Mapping of required skills and resource requirements (Critical, Strategic Must have and good to have categories) - List down all potential hires from your own network - former colleagues, virtual network platforms and social media connects. This is the most critical phase. Budgeting often goes for a toss. One needs to be creative, innovative and both short and long term here. - Golden rule is hire from known and reliable network or references. - It’s more about resource management and talent spotting rather than mercenary type of hiring.

Finding the right team is essential but it takes time. Not everyone is going to be a correct fit. The best people will require compensation and this is also something you need to keep in mind.

Think of your team as a resource and not a cost. Once you view your team as a resource you can deploy it in the right way. If not you will always see the as a cost and will be so focused on trying to get everything out of them you will moss the big picture.

It is a myth that you must always have a co-founder when you start. it all depends on the magnitude of the idea. Usually, you can find a potential partner, employee, during the validation stage. If you meet enough people and spread the word you will eventually find people who will want to share your goal. find people who complement your skills. The best part of finding a partner early is you can share your risks and get ideas/ helping hand early on when you need the most. If you don't define roles & responsibilities, often you end up stepping on each other's toes resulting in confusion and wasted time and effort.

I think when it comes to funding you really need to exhaust all options the number one thing when it comes to business in my opinion is getting customers first often times you may realise that bringing in customers and giving them a good service can set you up for initial success and some money in the bank to reinvest into your business the best way to potentially get funded is to grow your own personal network of funders etc and put your business in front of them I don’t have the statistics but I’m sure most people are funded re warm introductions

Funding doesn't mean investor money. funding means free cash flow that will stretch your runway till the business starts yielding. When there is no external funding, starting a services business can have an immediate positive impact on cashflow and the runway. Ensure that you have enough surplus to invest in the original idea. Keep validating the product and onboard early customers even if the complete product is not built. Customer money is the best money!

How is everyone doing today? I'm using this opportunity to wish everyone to get off their phone and enjoy the last day of August. For more startup advice, just follow me.

Funding is difficult and time consuming. Plus no serious investor will come in at the early stages unless they are friends, family, or fools. Make notes of who you would want involved with your startup in the future and build something successful in the meantime.

Before launching your product, have a think about the lifestyle of the product and how this will impact the product and how you can yours the cycle to launch bit also relaunch the product. Great example is a smartphone. The manufacturer don't give us everything that we need they update a few thing and relaunch a new version. Then each year they do the same thing. We feel like we are getting something new but it's always been the plan.

After launching growing the startup is what I consider a true test for any founder because growing phase bring lots of challenge and hard decision.

This section is incorrectly titled. You shouldn't be looking to grow your business for the sake of it. You should be looking to scale the best parts of your business. So many businesses fail because they focus on just growing revenue.

Being laid off could open the door to another job. Would you consider shutting down your startup if you got a better job offer? Considering a startup should not be a consequence of being laid off unless you are able to visualize its first year.