5 Top Startup Tips – Things to know before you start your business

Starting a business can be a very exciting, but scary time. We have helped our fair share of startups and shared with them our startup tips, and let’s not forget that once upon a time, we ourselves, were a startup too. Now we help startups pitch, launch and grow their business, and have had some great success stories with companies like Prosper BI. So we’ve decided to share with you our top five tech startup tips.

There are a few things to know before you start your business. In this article, we hope to give you some hard-won business tips that we share with our clients and wish we’d known about the first time around.

Discover how to make a start-up company successful, with these five useful startup tips that have helped our clients succeed.

Startup Tip #1: Don’t be afraid to go solo

We see a lot of budding entrepreneurs worrying about being sole founders. There’s this idealised version of startups having a co-founder, each with different skills sets. But despite what you may have heard, there are some great perks to being a sole founder – just ensure you have a strong team of advisors behind you, with different fields of expertise meaningful to your business. These advisors can help you build valuable connections, investments, and clients. Sole founders can take advice on board from their mentors, and decisions can often be made with greater clarity and speed.

Startup Tip #2: Never stop testing

You have about as much chance of building a successful startup without doing extensive testing as you would winning the Lottery. Your time and money are extremely valuable, so don’t make the mistake of investing your time and money into a product or service that fails in the marketplace because you haven’t done your research. Never stop testing, by testing your product before it goes to market, you are more likely to succeed and generate constant cash flow. Get used to failures – you’ll be running lots of tests and most of them will end up in failures, but don’t let this dishearten you. For each pound you spend on research, you will be saving yourself a huge amount of wasted investment later on.

There are loads of ways you can test your product and market – and they don’t have to cost the earth either. When you’re done here, check out our post 18 types of Minimum Viable Product (MVP) that won’t break the bank to get some ideas for your startup.

[Click here to continue reading]