Have you ever thought about your own business and the risks that come with it? To be honest, not everyone is able to bring their business ideas to life. This is due to the many mistakes that are made at the very initial stages of the project. Of course, you will have to face fears, failures and shaky ground under your feet, but the project can survive this period, or it can fail due to many mistakes.

Dr. Simone Ramo is the author of a study that draws a parallel between tennis and our lives. This game is played by pros (business sharks) and amateurs (those who take their first steps). In the first case, there is an 80% chance that a professional's pitch will be successful, while a beginner will fail 80% of the time. If the game continues, the pro does not slow down, and the beginner begins to make even more mistakes, as a result of which he loses.

So, you must understand that at the beginning you are not playing a professional’s game, but an amateur’s game, so you will make mistakes. The success of your business depends on the first steps, on how many wrong decisions you make in the very early stages. Today we will not tell you how to succeed in business, but we will tell you what steps will destroy your endeavors in order to prevent failure.

1. Unreliable companions

Reliable people are the basis of any business, but if you start working with “good guys who are unlikely to let you down,” then most likely this will be your fatal mistake. Firstly, each team member must clearly know their functionality and not interfere with the work of their colleagues; in this case, everyone will be busy with their own business, which will eliminate conflicts. Secondly, everyone should be equally interested in the success of your business, everyone should have decent motivation and not pull the blanket on themselves. Thirdly, you must trust these people and not take on the team those in whom you doubt even 1%. The human factor, ambition, and greed are the main threats to your startup.

2. Lack of coordination between co-founders

This situation can arise as a result of working with “good guys,” or if the ambitions of one of the partners begin to spill over through the cup of selfishness. There are many advantages to investing in a business with several people - both lower costs and several views on the same situation - but there are also risks. If companions have different views on life and do not have common values, then such cooperation will soon end and division will begin.

Only reliable person can become your partner, the one with whom you will go through difficult times into a bright future. Clearly stipulate the conditions, shares, privileges and, most importantly, work only with reliable and decent people.

3. Wrong hiring tactics

Of course, any business will need hired workers, and hiring has its own characteristics. If you hire too few people, you won’t be able to handle turnover and you’ll go broke. If you hire too many people, you may find that all the money will go to salaries, and you won’t be able to exist without profit. Here's what not to do:

1. Hire people too quickly in the hope that demand for your services will only grow and clients will start lining up. At least until you find a way to travel to the 2D world.
2. Delay in dismissing incompetent and lazy employees. You will be investing money in an employee who does not bring profit and works to the detriment of the business. It's just business - nothing personal.

4. Choose a field in which you do not belong

Let's assume you understand all the intricacies restaurant business, went through a whole school, working as a waiter, manager, learned all the secrets of chefs and now you know how to protect yourself from theft, how to motivate employees. Your business will flourish because you are busy with your business and bet on the right consumer segment.

If, without knowledge of the matter, you decide to go into business in an area that is unfamiliar to you, and prestige has become the main motivator, then in this case you may fail. Wrong bet on potential buyer, lack of knowledge about the market and the necessary skills are guaranteed to lead to bankruptcy and failure.

Adequately assess your strengths and skills so as not to become a hostage to ambitions. Bet on what you understand, and remember that first of all, your product or offer should be interesting to people, because they are potential buyers.

5. Mindless copying

Remember that business is always a kind of experiment, and you are unlikely to make big money by copying your competitor. By borrowing someone else's idea, you see only the shell, but are not familiar with all the internal processes and difficulties that you will encounter.

Your unique ideas are the key to your treasure chest, so always look for something new that is not yet on the market. Anticipating your question about public catering establishments that look like carbon copies, stand all over the city and operate successfully, we answer: tough competition will await you, because business opponents have been on the market for several days and have long ago established all the work. Same with prices: at first you will work for the client and almost at a loss to yourself. And one more thing: your product should be head and shoulders above best example which is on the market. In this case, you can count on a stable flow of customers and profit.

6. Ignoring financial costs

You might think that in business only losers and cheapskates count every coin, but in this case, we advise you to post a job search profile in advance, because you are guaranteed to fail. Before you start investing money in your business, you need to calculate its profitability and payback, therefore, take into account expenses and income. Calculate the costs up to the purchase of the necessary office supplies, take into account every little detail so that you don’t end up going broke due to the costs of paper clips and pens.

Remember: when you start working in business, you should try not to hit the jackpot, but think about how not to make mistakes that will lead to collapse and ruin.

Opening your own company is the dream of many people. Just imagine: you work not for your boss, but for yourself. You organize it yourself production activities and you are responsible only for your own work. Later, when you begin to achieve certain successes, you will be able to hire employees and earn more money, expanding the sphere of influence. This is a very interesting prospect, but most people do not even think that it can be brought to life, and not just kept in dreams.

Introduction

The two biggest obstacles on the path of many people who continue to take a job they don't like, although they dream of starting their own business, are lack of money and lack of ideas. Almost everyone believes that to open your own company you need to have a huge budget, as well as be a creative genius who can take creative ideas out of thin air.

Reselling items

Trade in modern world very different from what it was 10-20 years ago. The fact is that technological progress has led to the creation of online stores, which have not supplanted real ones, but have taken a much higher place in the industry. Naturally to open own online store, you will have to try and spend money: you need to create your own website, purchase large assortment products, find suppliers, promote the resource and advertise your activities.

But you can start small: now there are a huge number of web pages on the Internet where things are sold from hand to hand. That is, someone sells their things, and someone looks for what they need and buys what the first person put up for sale. This is where it's easy to start your own business. You can look for cheap items and then resell them for more. If you purchase wholesale supply some popular product at a low price, then it is advisable to sell it with a substantial markup.

In general, there are many opportunities, and you can start such an activity with a minimal budget. If things go well, you can gradually move to a higher level by opening your own online store.

However, this is far from the only startup with minimal investment. Exists large number other options that you will get to know. Which startup with minimal investment should you choose? Here you should decide what you personally like and what gives you more pleasure.

Organization of holidays

Before considering another idea, it is necessary to refer to the term “startup” used above. What is it? Many users may not be aware of what this strange word means, but it has long been part of the speech of modern people. So what is a startup? What is it?

A startup is new business, which you open on your own, in most cases it starts with one person or a group of like-minded people. And your personal startup can specialize in organizing a variety of holiday events.

You will not have to spend a lot of money to provide services, since they will be intangible. Professionalism plays an important role here, so it is worth focusing on this aspect. It is recommended to start with children's audiences, as they are less demanding. When you have completed a certain number of events for enough high level, you will definitely be noticed. You can help this with online promotion.

Advertising agency

How else can you make your startup? The idea of ​​an advertising agency may seem extremely unrealistic to many, but in reality it is much simpler than you might think. All you need is a creative mind and basic technique such as computer, printer, scanner and so on.

Then you just need to look for clients, of whom there are plenty on the Internet, if you know how to do this. Advertising agency may consist of one person or a small group of people, and it is not necessary to rent an office - you can work advertising activities straight from home. So advertising business- this is an area in which you can safely start your startup. The idea is very profitable if it can be implemented correctly.

"Husband for an hour"

It is quite possible that you have already seen advertisements for “husband for an hour” services, which do not imply any intimacy, as some may think. In reality, such a “husband” must be a jack of all trades and be able to do a lot, from plumbing work to repairing small and large household appliances.

However, such a startup has one big advantage - you don’t have to spend money at all to implement your idea. All you need to do is take a toolbox, which is in every apartment, and go make money. Considering that Russian startups are becoming increasingly popular, you will have to try hard with advertising to stand out from the rest. However, this will not be a problem if you are remembered by your clients for your versatility and professionalism. As a result, you can gain such popularity that you will leave all Russian startups far behind. They will envy you and look up to you as an example.

Freight transportation

As mentioned above, online shopping has changed modern trade, and this also affected cargo transportation. Now you can easily open your own business in this area if you have a driver's license and a car. How to launch a startup of this kind? It’s always better to start on your own, delivering goods to online stores, as well as to clients of such outlets.

Even if you don't have a car, you can take out a loan. If the workload is good, it is possible to make a profit of about 35 thousand rubles per month from one vehicle. And when the loan for the car is paid off, the profit will increase to 50 thousand rubles. Naturally, if you decide to expand and buy more cars, you will have to think about salaries for drivers. But you are guaranteed to have at least 20-25 thousand rubles per vehicle per month. As you can see, profitable business startups do not always require incredible investments from you.

Animal breeding

Startups with minimal investments in Moscow are quite real idea, but what can we say about small towns, whose population does not exceed 100-200 thousand inhabitants? Here the conditions are much more difficult, but you can always find your niche. For example, you can raise pets. Just study the demand and purchase those animals that are of more interest to the residents of your city.

One of the most convenient and effective options is breeding rabbits. They are undemanding animals that reproduce at a high rate, and a purebred rabbit can fetch up to five thousand rubles. In order to open such a startup with minimal investment, you will simply need a project. You need to conduct an analysis to ensure that demand does not fall, and also plan how you will house the animals. Remember that they are not things and you will have to care for them and take care of them.

Shoe repair, key making and other manual work

As in the case of the “husband for an hour”, in this option you need to be good at doing what you are going to earn money from. Buying equipment for work is not so difficult. It can also be purchased on credit, which is easy to pay off over time. In times of crisis, Russians are less likely to buy new shoes and try to repair old ones, so you should definitely take advantage of this opportunity. This is a low-investment startup that will pay off fairly quickly.

Beauty salon services

As you can see, examples of startups with minimal investment are almost endless. You just need to determine what you can do best, as well as what brings you pleasure. Use your ability to do haircuts, makeup, or any other beauty procedure by trying to charge money for it. Initially, you can dye your hair or do your nails at home, so you don't have to rent a space. Build up client base, starting with your friends, and then expand and gain popularity.

Tutoring

Another very common and interesting option- this is tutoring. As part of this, you will need to teach the subject you are best at. This is a service that has always been very popular, but becomes especially relevant closer to the moment when school graduates begin to prepare for admission to higher education. educational institutions. Use the power of the Internet. Start small and then expand - chances are you'll end up with your own foreign language school.

Catering

If you know how and love to cook, then you should use it not only to eat yourself, but also to feed others. Naturally, for money. This does not mean that you need to rent a huge area and set up a restaurant with a hundred seats. Three or four tables will be enough to start with. Some people don't do any seating at all, selling take-out food, while others simply prepare meals at home and then deliver them to customers' homes (or they come pick up the order themselves).

Making crafts

Another startup for those who know how to work with their hands, only this time in a more creative direction. If you know how to sew, knit, or carve wood, then at any moment you can start making money from it. There are enough resources on the Internet where people sell what they make with their own hands, while earning good money. Later, you can create your own online store and even promote your author’s brand.

Web development

IN modern society, which relies on the Internet, website development is an incredibly popular business, so if you have the desire, then you can start earning money without investing a penny in it. All you need is knowledge of HTML, CSS and JavaScript. There are tens of millions of websites on the Internet, but the demand for their creation not only does not fall, but is constantly growing. So you can discover a new career path by ending it as a director of a large IT company.

Online consultations

This startup may be a little similar to the one about tutoring. Its difference lies in the fact that you do not need to invite clients home and do not need to go to their homes to teach a particular subject. All you need is a program that allows you to make calls over the Internet, such as Skype. As a result, you will be able to give lessons on any topic without leaving your home or leaving your computer. At the same time, the possibilities are not limited to school subjects: you can give legal advice, teach business and even make astrological forecasts and predict the future of clients. As you can see, the possibilities for starting your own business with minimal investment are unlimited.

Launching a startup involves a number of mandatory actions. Many novice businessmen think that what is unique trade offer enough, but the success of a new brand depends on many factors that are important to work out before starting. This is what our article is about!

Basic provisions

A startup is a company of any type that begins its development in the market. Today it is almost always funded by venture investors.

So what do you need to know about a startup?

1. It starts with an idea, the basis of any business. If you come up with and then offer a real product that has no analogues, success is guaranteed. The idea needs to be developed by attracting relevant specialists and finding investors.

2. Efficient team. Keep in mind that you shouldn’t count on quick profits; you need enthusiasts who are ready to work “for the idea” first.

3. Starting capital. It is impossible without a financial component. Typically, budding entrepreneurs attract outside investment, but there are often cases when they are ready to invest equity, and not just knowledge.

Testing phase

It is impossible to launch a startup to implement a project without testing. If there is no money and a large team of performers (maximum, co-founders), but there is a lot of enthusiasm, the main thing is to come up with a working model of the company. The process of checking the viability of an idea always involves polishing it.

Next comes direct testing of the product/service. It is important to draw an objective conclusion by assessing the willingness of consumers to pay money for a product. As part of this action, the market is also studied, the basic concept of the future company is drawn up, and a portrait of a potential client is necessarily drawn.

Testing the idea cannot be postponed until the marketing department appears, since there is a high risk of offering the product to the wrong audience, and therefore failing.

Sometimes, in parallel with testing, the creation of a prototype begins, but more on that later.

Writing a strategy/goal

Strategy - important stage formation of a “young” brand. It is the viability of the business model that investors then evaluate when making financing decisions. Often the plan is based on personal experience creator, successful cases gleaned from the Internet.

Why is it important to develop a plan?

• Firstly, a strategy is necessary for systematic development (entering new markets, releasing new products, finding partners, merging with corporations, etc.).
• Secondly, the business plan largely determines the size of the investment, how it will be implemented (self-financing or financial investments from the side).
• Thirdly, the construction of the company’s management and the selection of employees depend on the planned points of consistent development and the set goals.

A business plan should always contain a “zest” that distinguishes the brand from others and can interest investors. However, do not overdo it with creativity, performance is more important.

Search for investors

So, a good idea has been invented, a development plan has been developed, a test has been carried out to determine how efficient the startup is - what else is needed to create? Lack of funding is the reason for the failure of about 30% of start-up companies. American researchers CB Insights claim that it is the lack of material resources that ranks second in the ranking of failures of “young” brands (by the way, a bad idea is in first place).

How to get investments? Let's look at the list of proven methods from Forbes:

• 3 “F” - stands for family, friends & fools (look for money from relatives, friends and... fools :)
• state subsidies - newcomers have a chance to receive grants, but to do this they need to prove the viability of a start-up brand not only on paper, but also by having their own material assets;
• business angels are rich people who want to invest in a young brand (theoretically, they may not even study the business strategy in detail, the idea itself is important to them; there are very few of them in Russia yet);
• competitive events are a good chance to receive not only investments, but also PR (at a competition it is convenient to test the effectiveness of an idea);
• venture funds - prerequisite receiving investments from venture funds is the real practical implementation of the idea (today special attention is paid to IT projects);
• Late-stage investors are often large corporations ready to provide financial resources, when a certain stability of the business is already noticeable.

Below is a graph showing the differences by investment sector of the Russian Venture Fund:

TO Forbes list It’s worth adding crowdfunding - also an interesting way to get a share of investments. There are crowdfunding platforms where anyone can present their own project and receive (or not receive) funds for its implementation.

The most famous platforms: Planeta.ru, Boomstarte, Yandex. Money (offering this opportunity since 2014). Here's a crowdfunding map that clearly shows the statistics:

Prototype development

When listing what a startup needs, one cannot forget about a prototype - it is a working, but not final, version of a product/service.

We recommend that you think through your first offer: it should theoretically solve at least one problem of your target consumer. This will allow you to determine whether the right direction of development has been chosen or whether adjustments to the strategy are required.

Final stages

These stages are called “alpha” and “beta” in the business world.

The first involves conducting final testing with the possibility of improvements. At the same time, begin to build a client base. The final stage of the alpha stage is the announcement of the product’s release to the market.

The purpose of the beta stage is to bring the product closer to the final version. Considering the criticism of early consumers, consider improving operational efficiency.

The conclusion of the stage is the launch of the finished product; here you can still refine the shortcomings and make amendments if necessary. At the same time, think through the dynamics of sales.

Just because a harsh reality exists doesn't mean you shouldn't. The best time to become an entrepreneur is not tomorrow, not next week, and certainly not in a year. This time is right now, at this very second, and here's why.

The time of your life will be yours

I give this reason first because it is the reason that motivates you to create a startup the most.

This activity takes a lot of time, but it’s exciting activity! This is an adventure that you will remember for the rest of your life, whether you succeed or not. It was once said that everyone should try to become a rock star once in their life.

While I was writing this article, I realized how much I really love it all - the uncertainty, and the feeling of victory, and failure, and meeting clients, with the press, and so on.

I can't imagine what I would do without all of this, and if the same can be said about you, then you will end up feeling the same feelings.

You have the power to create something out of nothing

Few professionals have the strength to create something out of absolutely nothing. Perhaps right now you have some “crazy” idea in your head that you can bring into the world. It exists for now in the form of a sketch on a napkin or a file with a drawing, etc., but in the end it will become a reality.

There are chances that this idea will affect the lives of many people, millions of people around the world. Few people could achieve this even 20 years ago. Now it's possible for everyone, everywhere.

I rarely express myself so categorically, because I understand the costs, but I absolutely sincerely believe that startup opportunities can turn up anywhere. Of course, this is more difficult in poor countries, but it is still possible.

This knowledge is now available

Entrepreneurship was once like a private club or some secret art. In order to understand the intricacies of entrepreneurship, it was necessary to spend a lot of money on attending seminars and buying smart books.

All this can be done now, but now you can learn entrepreneurship in a different way. Can be found everywhere real stories successful or unsuccessful enterprises. They're everywhere, even on this very site, they appear hourly in posts on news sites, daily on Mixergy, and you can find tons of them on Twitter.

Detailed instructions on how to go from zero income to a profitable business, all knowledge about all stages of this path are in the public domain - and free of charge.

"Cloud" computing and web applications allow you to start without any special expenses

Ten years ago, getting started required a lot of money for software and hardware. If you were planning something even remotely large, you might need an initial outlay of half a million to buy the equipment YOU need.

Software for internal needs cost a lot, despite the fact that there was little choice. The software needed for development was even more expensive. Now at our service developed system open software databases and development tools, as well as cloud computing systems.

Thanks to this progress in software, the so-called. "startup weekends" are three-day working sessions with the support of IT experts, where a raw idea can be turned into a well-thought-out project.

It’s even inconvenient to write such things, because we come to almost everything ready-made. A web service like Amazon EC2 costs money, but now it can also be used for free to test a project at an early stage.

Of course, your own time is not free, but it is also saved thanks to libraries and workspaces like JQuery and Ruby On Rails. Every chance is that if you need something, you will find it, and for free. And if not, then at least you will find someone to consult with.

Place doesn't matter - at first

I still continue to think that depending on the type of business and the scale achieved, certain geographic areas may be better or worse for you. But these days, you can launch your company from anywhere in the world and be well known everywhere.

I see more and more more companies, who operate in a variety of locations in the United States and abroad. Take a look at Balsamiq, WooThemes, or see where Backupify comes from (Kentucky!).

The ability to have access to clients is now available globally, and your team can also be distributed across space thanks to what was discussed above (cloud computing).

Working together face to face is a good thing, but it's much easier to book a plane ticket every 8 weeks than to settle down in California.

If the location of the company worries you, then you don’t have to worry anymore.

Resist the urge to settle straight into Silicon Valley from the start. If geography matters to your business, you will understand it in due course. Best of all, you can start right now, right where you are, without spending money trying to impress clients.

Media attention can be gained overnight

In order to get the attention of the press when starting a business, it was necessary to hire an expensive advertising company and pay 10 thousand dollars a month.

Now, good product with a cleverly crafted story can become famous overnight and attract the attention of mainstream media. Look at Chat Roulette. Although this is not a clear example big business, this is a prime example of how a company can gain fame and good press literally overnight.

There are more ways to gain clientele than ever before.

Acquiring clientele has always been difficult. In order to start making money, you had to spend a lot of money.

IN on a large scale, of course, it will still take a lot of money to create a “sales machine” optimized in terms of CAC (cost of acquiring users), LTV (user monetization), etc., but to get started, you can use many channels to obtain clientele .

PR, inbound marketing, search engine marketing, events privacy, platform-based distribution, direct sales, affiliate programs and many other channels. They can be used strategically without spending a lot of capital.

Why is this important? It's like having more lives to spare in a video game. Many channels won't work, that's life. But with more channels, you have more opportunities for success.

The startup starts earning your living pretty quickly

Sometimes it takes a new business years and years of unprofitable work to get to the point where it starts making enough money for you to even live on. Moreover, this required initially investing a lot of money, usually in the form of savings and loans.

Nowadays everything is different. You can start charging for software and increasing the number of customers at some (low) level of the profitability scale, and quickly reach a point where it pays at least your living wage. In addition, we live in a subscription economy, where income is recursive.

Not even talking about things like techniques for accelerating turnover securities, Buyers these days are the gift that keeps coming back to you again and again. It won't make you rich instantly, but for a team of developers it should be enough to create software and make a living within 6 months.

Starting a venture-backed company usually looks different, but the software vendor lifestyle can often be just that. 37 Signals decided to remain an independent team, but if they wanted to raise money and demonstrate rapid growth, they could have done so a long time ago.

Capital can be increased within wide limits if you need it

The world of capital raising is going through an interesting transition right now. As entrepreneurs have fewer mandatory steps to go through, new class investors who are involved in smaller and smaller projects.

Previously, getting a project off the ground required larger sponsorships or a larger share of the initial preferred stock issue to be exchanged for debt. Transactions took time and terms varied widely.

Now the spectrum has seriously expanded. You can get funding from YCombinator or TechStars at the level of 18k just for the idea and the presence of a capable team; if the project has a number of advantages, at the “seed stage” you can collect 250-500k.

And traditionally, a larger attraction of funds from informal investors of the first stage ("angels") will result in figures of the order of a million dollars (the same can be achieved by issuing preferred shares with conversion into debt obligations).

Actually, come to think of it, I don't remember a time when such a complete issue of shares at the initial stage of a project was successful... A word of caution: many people think that they need to raise money just because they read about it in the newspapers.

This is the wrong approach. Money should only be attracted if there is a specific reason for it. In the case of a small initial investment of about 18k from YCombinator, it is usually required to present the first working version of the product, which can be provided to clients for testing.

Any amounts above this should be strategic and have specific consumers and what will attract them in mind. If you don’t yet know what this means in your case, don’t rush to raise money just yet.

You will make friends and connections that will stay with you for life.

This is one of the three main reasons to launch a startup. The friends you make will stay with you for life. A certain connection will arise that unites you. Only another entrepreneur can understand what an entrepreneur goes through.

We tend to stick together and the bond that is created between us is quite deep. I've been doing this for about five years, since I was in my 20s. Many of my friends now became my friends precisely at the time when I started my first business. In addition, the world is a very small place, especially if it is the world of high-tech entrepreneurship.

Many people give up on this path and come to the conclusion that entrepreneurship is not for them. If you stay in this circle long enough, the circle shrinks and you see that the people who started at the same time as you have gone far ahead.

For example, when I first met Noah, he was just starting out at Facebook. Now he's doing big things with Facebook and Mint, created Get Gambit, and competes with it with AppSumo.

I can give a dozen other examples. It's great to see your friends stay in the saddle and begin to achieve success.

The number of new platforms and technologies is staggering

Most of the platforms that exist today did not exist 36-48 months ago. Mobile still had a significant market share, and MySpace still dominated. The opportunities for building new companies that have emerged now are truly remarkable.

The more new technologies appear, the more companies, over time, can be created on their basis. Without Facebook, we wouldn't have Zynga, and without the iPhone, we wouldn't have companies like Square. Without the development of network and cloud computing, companies like HubSpot or ZenDesk would not exist.

You'll take significantly less risk if you find out if you're on the right track.

Previously, it took many months and significant expenses to find out whether you were getting anything at all. Now things are different. You can find out whether you missed the mark or not in less than 60 days.

If you hit the mark, continue to pursue your line. If you miss, adjust your aim a little and take the next target. This game does not accept zero results.

You shouldn't be afraid of failure, but don't miss the lessons it brings.

Test your ideas on Amazon Mechanical Turk, talk to clients, order some keyword testing on Amazon, and see if you're wrong.

You can do all this with little to no capital and overcome the biggest startup hurdles in the first 6 months of development if you know if you're actually doing something that someone needs.

Traditional work, by and large, is not so much more reliable than a startup

Oh, of course, you are an excellent engineer or trader. You can find a great job, perhaps even with a six-figure salary, right now. Add in the other benefits and it looks great.

But here's the thing: no job is secure in our world. Wall Street collapsed almost overnight, and many large companies went down the drain completely unexpectedly. Creating a startup at least gives you some control over your means of earning a living.

If you get fired, that's usually the end of the story, period. When the startup world's equivalent of getting fired happens to you, you can fight back. You can persevere and continue your business.

The worst that can happen isn't that bad actually

It's not as bad as it seems when you think about it in advance. If your startup fails, you will suffer psychologically, emotionally, and financially. This will last for some time. To different people It happened that I was in a worse situation and then emerged triumphantly from it.

If things are going badly, you either a) try to create a new business, or b) join another company that you believe in, or c) give your life a new direction.

Failure in a startup does NOT mean failure in life. I am not at all trying to downplay the difficulties that a business failure brings with it. I'm just trying to say, "You will recover and come back to life so you can fight again tomorrow."

Results

If something tells you to do it and you really believe in it, then go and do it. We need more startups because they are the vehicle for change that can save the world.

Why do you think that now best moment to launch a startup? What makes you want to dive into the world of entrepreneurship?

Howling entrepreneurs around the world are probably terribly jealous of Nick Di'Aloisio's savvy right now. Last month, the 17-year-old sold his news aggregation app, Summly, to Yahoo for an unprecedented $30 million! Now, when he gets ready (if he gets ready) to launch a new startup, he will definitely have good funding!

Of course, many entrepreneurs do not have access to such capital, and therefore ask the question - How to create a startup from scratch and without investment? It takes an average business years to break through, let alone achieve sustainable profits. In the beginning, before you have investors, it's not unusual for you (and perhaps your employees) to go unpaid for a long time. It is important to do everything possible that would secure your product in the market.

Although some founders are willing to leave themselves without money in hopes of achieving serious traction and big profits, most employees are unlikely to sign up for this. To motivate employees to work with enthusiasm, it is important for budget-constrained entrepreneurs to use creativity.

Non-monetary incentives

Many startups simply don't have the money to support a traditional salary structure. This is why many entrepreneurs use initial capital. Finding additional co-founders or paying employees equity shares in the company can sometimes help get you on your feet initially, but these methods are not always sustainable.

Fortunately, there are other, more economical or completely free, methods of motivating people to get to work.

StartupDigest, for example, became champions of the Curator Model. The company is looking for talented individuals to manage or “supervise” the digest in their cities. Curators do not receive monetary compensation, and the work is based on enthusiasm. Why? Because the platform allows curators to publish digests on their own behalf. Such cooperation is beneficial to both parties, and monetary interaction here is replaced by a mutual helping hand.

If the curator is not a potential competitor to the company, he can promote his name and improve his reputation in exchange for a little work. When an employee or partner is willing to do what you need for you, there is no need for monetary compensation.

Colleges and universities may also provide free labor represented by interns. You can offer mentorship in exchange for helping your startup, and this can pay big dividends, as college students today are closely connected to social media and technology, allowing them to be more helpful than the person who makes everyone's coffee.

Lifehacks for young startupers

Sometimes startups need to attract real paid specialists. To allow your company to attract talent and interest them with fees allocated on a very limited budget, you can make it interesting and profitable for other people to contribute to your startup.

Sometimes, life hacks can cost nothing at all, but at the same time make working at a startup much more attractive and interesting than a well-paid position in an old-fashioned, entrenched company. Silicon Valley companies like Google and Facebook are now famous for providing their employees with all the basic necessities of life, from outsourced chefs in the company kitchen to medical care. Of course, such “quirks” will cost the company a large sum, but there are other options:

• Flexible work hours: A startup is not a 9-to-6 job, so allow your employees to come when it suits them.
• Remote work: If employees are more productive at home, allow them to work from home if they need to.
• Public recognition: Praising employees in front of others will help motivate and motivate the rest of your team.

Focus on the lower ones wages, but also provide employees with a variety of entertainment and distractions that will ultimately increase productivity and help you identify the talent that will help you get your company back on its feet.

Not every person will be ready to take an oath to work for your company for free, but there are some people for whom contributing to something large-scale and special is much more important than receiving a stable salary.