By 2025, the average age of an entrepreneur will be 16 years, that’s how fast the business dynamics is growing. Every day we see new applications, innovations being brought on by young minds and more and more incubation centers are being made by government and organizations to facilitate those startups. With the current market situation, it’s a hundred times better to have your own start-up than to work for anyone else. Here are some words of wisdom as you begin to get started with your startup.
Innovative ideas are key:
It all starts with an idea. The idea doesn’t have to be complex. A simple idea to solve a simple problem – anything as small as a bell service for your pet. The guy who thought of car wipers got paid royalties for years because of his idea. So think of something pressing that’s needed or is missing in the world. It can be anything, of any scale – all it has to do is to make a difference in people’s lives.
Pitch it correctly:
Now that you have an idea in your mind, you’re ready for the next step, to fine-tune it. One of the best ways to get your startup up and running in no time is to pitch your idea to an incubation center. Incubators help new businesses and startups to develop and get on their feet. In Pakistan, several incubation centers are being provided by universities, some are at a Provincial level while others are present in metropolitan cities.
Jazz xlr8 at the National Incubation Center is an accelerator that stands out – supported by the largest telecom in Pakistan, Jazz, the NIC provides access to big data analytics along with distribution packages and financial help that can allow your startup to get in going.
Always know that Investors can only be brought to your startup if you’re able to pitch it correctly. You will need to paint the future of your idea to your investors in less than 4 minutes of it will get boring.
Don’t lose heart:
If your pitch gets approved, you will be on your way with your startup but if it doesn’t, don’t lose hope. Take feedback constructively. We all know how WhatsApp was rejected by Facebook and later got acquired. So maybe you just need to find some more investors or just improve your idea and refine it until it looks like a promising startup.
Hours don’t matter:
When you’re working on a startup, hours don’t matter, progress does. On average, successful entrepreneurs spend 60 hours or more in a week on their startups, it sounds crazy but if you care about your idea and are determined to make it a success, time won’t be a problem and once you start getting results, your hours will pay off all at once!
Startups are a great way to contribute to the economy and they allow you great exposure as well. Most people get disheartened at the start as it takes longer to get results from your startup, even Careem, the only Billion Dollar Company of Pakistan was a flop idea at first but if he had been disheartened at that time, we wouldn’t be here. So keep on till your dreams come true.