Not easy it is. You may have attained a good start for your idea; investors may have placed a bet in your execution model, users may have come by; the real monster that raises its head post good start is maintaining that level of consistency. But that isn’t an invincible monster, your business acumen and well-placed underst anding of market can take it down easily.
Also read: 12 steps to starting a business
There are many aspects while you run a business. Conventional businesses that involve manufacturing or trading are much interested in regulatory clearances and audits and returns; the digital startup of yours may be a different story altogether.
Questions like registering Trademark and name of the company with the authority.
You do not need to be that serious. You do not need to get into the mess of thinking which model to go for, a privately held company, a partnership or an LLP. For digital startups that involve mere building up of a website or a mobile app, the primary focus must be how to reach prospective customers.
Indeed, ventures that are into e-commerce or allied services must obtain statutory permissions to play safe. You must have heard of some online medicine vending platforms running into trouble over missing permissions and surpassing the laid down rules.
To steer clear of issues that eat up time and labor, and are not related to business growth, keep it simple in the beginning. Concentrate on what deserves your time.
Purchasing of l and, machinery and hiring of workforce to run operations was entirely a thing of the past when startups involved just production of goods. Today’s businesses are run online, marketed online, enroll users online and make revenues online.
The bottom-line is put your foot on the path that leads you to more and more market share and leaving one that is undeserving and can be h anded at later stages of expansion.
Users are your kings, and they must be happy with the product you offer. Do not needlessly fill their mailboxes or message apps with promotional communications. Do not lure them into signing up, a good product is spread through word of mouth and will multiply its users even without any Facebook marketing tool or spam emails.
Don’t forget, users are already overburdened with apps and web pages, your product has to be simple and worth using!
Also read: Failures – A Part Of Your Entrepreneurial Expedition
