Start-Up: Why You Need To Start One Today
For quite a while now, the word “start-up” has been popping up online more frequently than it used to some years ago. Here is a definition efficient enough to satiate your curiosity:
A start-up, simply put, is a company at its infancy stage; it is new, young and just starting to develop. Start-up companies are always small, funded and directed by an individual or the founding partners. These companies are created with the goal of meeting the needs of the market. They do this by forming a viable business model that revolves around an innovative product, a platform, or service.
FIVE REASONS WHY HAVING YOUR START-UP NOW IS BRILLIANT
Are you in college or a graduate unsure of what next to do? Instead of joining millions of job-seekers, or cooperate workers in the world, why not start your start-up? Here are reasons why you should have your start-up, not at any other time but right now:
FREEDOM TO EXPLORE
People in corporate positions are often stuck with an assigned tasks, and rarely ever get the chance to try other things. Building your start-up gives you the ultimate freedom to explore different things.
Start-up businesses that help people in solving problems have a huge positive impact on a lot of people around the world. For example, someone started a company that produces water-filters that solve the problem of undrinkable water. This has reduced the cost from purchasing bottled water as well as the death rate caused by drinking unhealthy water. Your product or service will have impact once it improves peoples lives.
YOU CAN START ANYWHERE
Your geographical area is no limitation in building your startup. The important thing is you get started and let people know about your offer. Technology has made the world a global market, so take advantage of this and market your product or service online.
EARNING A LIVING FROM A START-UP IS POSSIBLE
We are no longer in the age where companies have to suffer so much loss before they get a considerable amount of profit. With current technological trends, you can earn from your startup by building an app for it or creating an app as a startup. You can earn your dividends by charging customers for usage over time or even running ads on the app. The initial income may not be so much, but as your customer base expands, your pay also increases.
THE CAPITAL TO GET STARTED IS AVAILABLE
One of the questions frequently asked by prospective entrepreneurs is “Where do I get the money to start my business?” There are so many ways to acquire funds for your startup, and none of the alternatives is void of advantages and disadvantages. Here is a list of the common sources where you can get funds for your startup.
- START-UP INCUBATOR OR ACCELERATOR: Start-up incubators are companies that aid the development of new businesses by providing them with funds or materials. These incubators are usually associated community development organizations, large corporations, or big universities.
- BANK LOAN: To get a loan from a bank, you need to have an existing asset to use as collateral. However, in the United States, Small Business Administration can get you the loan you need when you lack the collateral for acquiring a loan from a bank.
- CREDIT CARD: If you are with an excellent credit history, this can help you in getting a credit line in funding your business.
- YOURSELF: You can self-fund your start-up. It may take some time to save enough money for starting your start-up, but this is the best way to fund your business because you don’t have to pay anyone back or give up control some day; the business is completely yours.
There are more ways to fund your start-up, but the stated ones are the best.
Do you have a business idea? You do not need to wait any longer, begin your start-up today!