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The Beginning Stages of a Start-up
Are you thinking about starting a company? Many people with the entrepreneurial spirit take a chance to live their dream. It is not a smooth road, especially in the beginning, but through hard work, dedication, and luck, you can realize your dream.
The following article addresses the beginning stages of a start-up company.
The dreamIt all starts with an initial vision. Dreamers have many of them a day, but only the motivated ones actually try to actualize them. This period is exciting and serves as the catalyst to embark on the start-up journey.
Finding the moneyYou have decided to go ahead with making your dream a reality. Now, you have to find the money to help launch your start-up. You will have to pitch your ideas to banks and investors. Some ask for help from friends and family members. Regardless of where it comes from, the money is an integral part of the start-up process.
The first stepsOnce you have some money, you need to spend it on employees, a Web site, equipment, etc. Any kind of business needs some essentials in order to take the first steps. You will begin to attract your first customers and things will begin slowly but surely for your start-up.
More spendingYou will experience the accruement of some revenue, but you will realize your need to spend more money on your start-up. In order to gain more customers, you will need to do more marketing (which is expensive). Despite the fact money is coming in, it will seem as if more is going out.
More spending?Yes, it is true. You will experience more bills coming in, salaries to pay, and more marketing needed to gain customers. Most entrepreneurs realize they will have to pay themselves close to nothing just to have some more money to spend on the business. This will not be a happy time, but you must remember the need to sacrifice in order to triumph.
Belief and the need for more moneyYou may begin to realize your business will make it because of solid products and services, but you will need more money to keep things afloat in the mean time. This may be a time to take out a second mortgage, stretch the credit cards to the limit, etc. You will need to find more money in order to keep your start-upís successes going.
The next phaseUnfortunately, most small businesses never make it to this stage. A majority of small businesses fail within the first three years of existence. If you can make it through the financial crunch, you will make it to the next phase.
If you have made it this far, you will have gained priceless experience and will know how to continue to make your start-up grow.