Why would you want to start a startup?
That “aha” moment when you see a problem and want to solve it and turn it into a business startup. You think why has no one else thought about fixing that. It’s so simple and of course if I build the solution, lots of people will want to pay for that solution and I can make lots of money.
The idea is the easy part, the challenge is making sure other people will buy your new solution, before you spend lots of time building it.
It can be hard to get started, as a founder you will have certain skills that will help, maybe you are an expert in industry, finance, sales or operations. However the challenge is that as a founder you will do everything at the start, not just what you have the skills to do. It’s a quick learning curve as you figure out how to do the accounts as well as build the product and eventually sell it.
Whilst going through all this, you need to fund your time. There is no clear path for this and every founder is different. Some founders continue in their jobs and work on their idea as a side hustle, some are lucky enough to have savings to support their idea and some have supportive families that pay the bills while the founder gets to work.
The one thing that is really challenging is getting any funding outside the friends and family circle at this time.
Founders have to sell the vision, the problem, the solution and rationale as to why lots of people are going to buy this solution and therefore it is worth investing in. And not many founders get idea stage or pre revenue funding.
Starting a startup is challenging, however there is lots of support and advice to help. Raise is an accelerator programme that helps you as a founder get the business foundations right and understand the investment landscape. With mentors and advisers on our team and our startup alumni, we are here to provide a community of support, to answer questions and to provide connections to people who have been there and done it.
We run Startup Club, where new founders can here from experience founders, we run Tech for Non Tech where non technical founders can grasp concepts of tech and digital world and we are run Silicon Drinkabout and Digital Circle to build a community.
So why start a startup, you will build something that solves a real problem. You will have satisfaction of being a leader, a founder as well as plotting the path of your own company and it’s culture. If you get it right you will make money.
It takes patience, money, time and resilience, but the feel good factor of that 1st sale is well worth it.