6 things to do before you start up!

6 things to do before you • Start up!

Got a brilliant business idea? UNSURE OF HOW TO KICK START YOUR BUSINESS?

Well, here are a few basic and simple steps that every ENTREPRENEUR MUST FOLLOW!

The Idea First off, you don’t need to have an extraordinary idea to startup a business of your own. All you need is an idea which offers customers better services, products or technology than they already have. Google’s plan, for example, was to create a search engine that was easy to use and customer friendly! No doubt, there is a lot of technicality involved in what Google does, but the plan itself was straightforward! A unique idea is the one key to drive the business towards success!

Choosing the right team Well, every successful company needs to have like-minded people who think on the same wavelength. While selecting your team, you need to hire people who are high on energy, enthusiasm and potential. Having the right team is half the battle won!

Delivering what customers want Most startups state the reason for their failure as “ran out of funds”. But had they put more thought into why they ran out of funding, they might have noticed a significant factor was that the customers did not want their product. Your product may be perfect in every aspect, but if it does not satisfy the customer’s needs, it would just be another product decorating the shelves of a store.

Raising money To make your big dream turn into reality, you’re going to need capital. Sometimes, a lot of it. Some startups like Microsoft can be self-funding, but most aren’t. To most entrepreneurs, looping in investors seems like a terrifying and arduous task. In reality, it isn’t. A good business plan attracts angel investors and venture capitalists almost effortlessly. After all, capital is the bloodline of any business.

Release all inhibitions But should you start a company? Are you the right sort of person to do it? If you are, is it worth it? Most people are the right sort of people to startup a business, but they just don’t dare to take the plunge. And probably a large number of you reading this, have it in you too. If you want to do it, do it. Starting a new business is not as difficult as it seems from outside. You don’t need to learn any great tricks of the trade. All you have to do is build or create something users will love, and ensure that cost is less than what you will make. How hard is that?

Mentoring The last, and probably most important ingredient needed for a successful startup, is the right kind of mentorship. Choose a mentor who has industry experience in the same field as you are venturing into. But finding the right mentor can sometimes be a challenging task - you need a mentor with industry expertise and also one who you can get along well with. Appropriate guidance is the key to any successful business.

Mara Mentor is an online tool which provides a platform for young talented entrepreneurs to connect with the expert business leaders in their industry. It helps entrepreneurs access business-related advice, understand their industry better, and develop their leadership skills. Mara Mentor is indeed a must-have tool for budding NextGen entrepreneurs

Mara Foundation’s Ambition We enable, inspire and empower ambitious entrepreneurs in Africa. With the support of our Mara Mentors we will:

THANK YOU Website: mentor.mara.com App: iTunes, Blackberry, Android, and Nokia. Customer Support: support@mentor.mara.com Mara Foundation is supported by a number of partners, including:

6 things to do before you start up!