Business – what do you mean by this word? I think everyone’s answer is that business is something from which we will start earning money by selling our products or services. This is very true but starting a business is a cumbersome thing and there are lots of reasons for this. Before starting a business you need to do some groundwork and acquire some knowledge of the field. If you have it then you can do it by yourself otherwise you have to hire a qualified management person. It is not necessary that you must have a degree in business administration but you must have deep knowledge and experience of the subject.
With regard to the IT industry ,there are many challenges currently like selling a refrigerator in Antarctica .If you still want to start a web development company then you have to be more strategic. Only then will you be able to sustain in the industry.
Which are the tractions you need to build before starting a web development company?
Traction 1
Idea and Research phase
This is a phase where your company is in your mind as an idea. You have to execute that idea to make a company. In the very first phase you have to start working on those things which are going to be your obstacles in your startup. You have to transform your imagination into reality and to do that you must do research in those areas which are mandatory in a company startup. Let’s say you have a great idea but don’t have enough capital to make your idea happen. Then this will become your obstacle. So you must find out all these obstacles and learn how to resolve them before setting off to create a company.
Before doing all these steps you first have to redefine your initial idea. Check whether your idea is feasible or executable and if you have found it isn’t, then redefine it. Do this constantly until you get feasibility.
Traction 2
Planning phase
What have you decided? Have you decided to go alone or do you want to go with a team of partners? If you have decided to do it alone then it’s fine otherwise you have to find company founders who are knowledgeable. In this second phase, you have completed your idea research and considered all the factors. Now it is time to execute the job and this always depends on the strategy document. The business plan is something you have to prepare before starting a company.
You must draft a business plan before starting your company. The business plan will keep you on the right track. On the other hand, it will constantly remind you about your goals and plans. You have created your business plan from prediction and from research, but it will be very helpful to you because it has a statistic which will help you a lot in the future.
Traction 3
Execution phase
This is the last phase of startup and at this stage you are all set to go with your plans and team. First of all divide all the tasks between your company founders according to their respective expertise and then start execution. Go with the business plan as you will then get a better idea how to start, where to go and in which time frame. Make sure that you use your capital in such a way that you get maximum impact in a short time and without spending too much.
If I have missed anything in these traction stages then please let me know through comments…
With regard to the IT industry ,there are many challenges currently like selling a refrigerator in Antarctica .If you still want to start a web development company then you have to be more strategic. Only then will you be able to sustain in the industry.
Which are the tractions you need to build before starting a web development company?
Traction 1
Idea and Research phase
This is a phase where your company is in your mind as an idea. You have to execute that idea to make a company. In the very first phase you have to start working on those things which are going to be your obstacles in your startup. You have to transform your imagination into reality and to do that you must do research in those areas which are mandatory in a company startup. Let’s say you have a great idea but don’t have enough capital to make your idea happen. Then this will become your obstacle. So you must find out all these obstacles and learn how to resolve them before setting off to create a company.
Before doing all these steps you first have to redefine your initial idea. Check whether your idea is feasible or executable and if you have found it isn’t, then redefine it. Do this constantly until you get feasibility.
Traction 2
Planning phase
What have you decided? Have you decided to go alone or do you want to go with a team of partners? If you have decided to do it alone then it’s fine otherwise you have to find company founders who are knowledgeable. In this second phase, you have completed your idea research and considered all the factors. Now it is time to execute the job and this always depends on the strategy document. The business plan is something you have to prepare before starting a company.
You must draft a business plan before starting your company. The business plan will keep you on the right track. On the other hand, it will constantly remind you about your goals and plans. You have created your business plan from prediction and from research, but it will be very helpful to you because it has a statistic which will help you a lot in the future.
Traction 3
Execution phase
This is the last phase of startup and at this stage you are all set to go with your plans and team. First of all divide all the tasks between your company founders according to their respective expertise and then start execution. Go with the business plan as you will then get a better idea how to start, where to go and in which time frame. Make sure that you use your capital in such a way that you get maximum impact in a short time and without spending too much.
If I have missed anything in these traction stages then please let me know through comments…
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