Hi everybody, hope you all have dreamed how to become successful one day? As you may have heard it’s not so hard to create high-growth startup if you only have the idea. It only seems that it is a difficult way to make money online.
Venture Capitalists are constantly investing billions of dollars into startups every day. The only thing you need you need to offer is a product or a service. It can be online service in a specific niche, a useful tool everyone needs or a marketplace where you can find exclusive clothes for parrots.
It is really to earn on your Startup in 2018-2020 because there are several reasons for that:
- the market is growing constantly and new products/needs appear every day with very low competition;
- there are a lot of business ideas you can select that are not unique/creative enough;
- there are specific places where you can start crowdfunding without paying any money.
What is the minimum for a Startup?
You should be a pro in your niche. It requires a deep understanding of your customer. For example, his needs, issues he faces, potential solutions you may suggest or a product every one dreams of. And of course, you should be confident that this is something your customer will pay for.
From a Startup founder standpoint, you should be independent. It means that you have enough financial resources and motivation to keep moving forward. Regardless of any complications. You may face different scenarios as your business evolve. And you should be ready to withstand.
The good idea is always linked to a problem!
Where to get money for a Startup?
- Self-funding. Most complicated way but a simple one if you have an online business. It is not so hard to create a website, social network account or place a free ad online. So if your Startup does not require a lot of money or you have enough budget to start – self-funding would be the best scenario.
- Startup accelerators. You can browse through Y Combinator, or famous one 500 startups or TechStars. Of course, you will find a lot of money there and support from experienced consultants. But instead, you will have to share a stake in your company or pay a fixed amount of a company’s profit in future. Usually, it does not require independence.
- Crowdfunding. Just ask people to help you! Share the idea and give it a try. The best resource to start is a Kickstarter. All you have to do is present your product or service. Explore what everyone else does if you are not familiar with it yet.
How to earn on Startup?
- sell own products: exclusive t-shirts, shoes, pens or pencils, posters, wallpapers;
- sell online products: websites, software, login & passwords, userbase data etc;
- sell online services: courses, consultancy, knowledge sharing etc;
- monetization by digital advertising;
- monetization based on recommendations;
- monetization using affiliate marketing;
- sell the company itself.
Remember there are multiple ways you can earn on Startup. Where is a will – there is a way. So keep moving forward and let your dreams come true. Build the foundation you will be proud of. And money will come as a consequence, not as a target.
I want to share a motivational quote with you:
The best things done – are done by yourself.