What does it mean to have the Up in StartUp.

Posted on July 28, 2011 by

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The other day a friend asked me for a top 10 list for starting a company and it got me thinking.  I don’t have a list, nor should I.  Every startup is different in nature, but I thought about what connects entrepreneurs and startups and figured I could make a quick list of things to do and know.

1.  Must be a doer!  Some people talk the talk, but entrepreneurs walk the walk.  It must be in your nature, because in a startup, unlike big business, if you come up with a good idea you are the one who needs to execute on that idea.  This is probably why you hear all the stories of people who started their business as a side project and know are doing it full time.

2.  Legally create your company.  It will help make everything feel real and make you have the difficult conversations surrounding equity distribution.  To learn more read a prior post on creating an LLC here, or dividing equity here.

3.  Learn how to do things on the cheap or better yet FREE.  You can’t waste your money because most companies start with only a few hundred bucks which are probably out of your own pocket.

4.  Figure out who your customer is and go get them!  If your business involves a bit of capital up front the best way to limit this amount is secure customers before you even have a product.  Figure out a way to create a bit of viral marketing within your customer base, this turns a little bit of effort into an important output.  What do I mean by viral?  If your product is online figure out an easy way for people to share on social media.  If your company is brick and mortar try to spread through word of mouth.

5.  Recruit smart individuals who know how to work independently.  In a startup your biggest asset starting out are the employees or founders that start the company.  Make sure to surround yourself with diverse skills and bright brains.

This makes a great top 5 to think about when starting your company or looking to follow your entrepreneurial passions.  On a similar topic, a friend wrote an article debating if one could be taught entrepreneurship and if you are interested in reading it click here.

On top of the startup world

~Sir. Hamilton

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