5 Things you should know before you start your startup

Hade Alahmad
By Hade Alahmad on Sep 12, 2016

if innovations were the last centuries thing, then this century must be -by best- the startup era... but don't rush to launch your idea just yet, before launching your own startup there's a few things you need to know first:

do you have enough founding?

some startups may not need that much founds to start giving back profits, but most startups work differently.

what drives many startups straight to failure is insufficient funds; and that's caused by the lack of planning and feasibility readings.

some projects may not provide profits higher than the expanses before the second or third year, so the founding must be enough for the project to go on for three years, taking in the consideration the worst case scenario is the what the plan must base on.

studying the feasibility is one of the most important steps that every startup should take *before* getting the hands dirty.

are you targeting the right market?

especially in the middle east and the Arab countries, you must think really hard before launching any new idea into the market... a lot of great ideas were meant to failure just because of targeting the wrong market.

knowing the right market is decided by one of two things, consulting experts in the field and market targeted, or making surveys to acknowledge the acceptance of the targeted market towards the idea.

most startups go with the first method so the ideas won't be uncovered before launching, the second method is more used I’m startups entering an already ongoing competitive market.

can you assemble the right crew?

even with the whole freelance outbreak thing these days, it's still not that easy to assemble the right crew for your startup, it's harder to define who is more capable of finishing tasks in the required quality from thus who have no knowledge about the field and phony liars, so most successful startups go with a team handpicked from professionals "or newbies in some cases".

the best crew is one that believes in the goals of the project, ready to give time for it to success, and maybe even more by seriously investing in it.

the lack of numbers never was a problem for startups, it's just determination, believing in the same goals, and good management that matters. (WhatsApp as an example.)

is now the right time?

some projects require to be launched as fast as possible while others require waiting and enhancing before the launch, knowing which is which can be known be learning about market conditions, the readiness of the project to be used, it's power to compete, and the financial situation.

there isn't an easy way to know when you should remove the curtain off your project, because every project has it's own conditions, and every startup has it's own plans, but the most important thing is to always have a plan B in case you did something wrong.

laws, don't forget to abide by it.

Arab laws may not have many of startup cases included, especially tech related ones, so it's important to know the few laws there is before starting, and in case of the possibility of starting up in a country with clearer, simpler, and more wider laws such as the USA or any country in Europe, that would be better.

the legal side of any startup is usually never given much attention for some reason, but I personally believe it's the most important side of a startup project, and it should be taken care of even before starting work.

one law violation may take your startup all the way down the fail road, so always make sure your things are legal.

those are the most important five things you should check before kicking off your startup boat in my opinion, and it has all the important things covered for your planning phase for your startup.

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