How to start a business!? 5 Tips for the startup Maker

The startup is a hard and difficult activity, but at the same time, it is the biggest drive in life. LSBC has formulated its 5 rules, allowing you to go through this complicated path in an easier way.

1.Test yourself and the investor for compatibility
Money is an important thing, but be careful with them and choose the right source. Since most business angels and funds will take your company shares from you. Therefore, it is better to love your angel or fund. Check in advance whether you are suitable to each other. If you have any doubts about this – give up the deal. <–more>

2.Create a prototype for your own money
Do not start investing in a start-up without building a prototype. Collect money for the team from your own savings or ask to invest your project of relatives and friends. To sell what can be shown is much simpler. In addition, you will prove that you can realize your idea of a startup.

3. The prototype should be as simple and cheaper as possible
A minimum is a minimum. Do not try to build an industrial solution on a penny budget. The prototype must demonstrate one or more of several functions. It should be simple – both for understanding and for the application. Invest in the interface.

See also: Luxembourg FinTech Startup of the Year Raises €2m in Funding Round

4. Begin testing the prototype immediately
Once the prototype is ready, ask friends, colleagues, any person from your environment to start using it. Listen to all their comments and improve the product. Do not worry if there are errors in the product. If users do not care, they will tell you about them. As a startup, you will be forgiven a lot.

5. Never act alone
Most individual startups fail. You need to have a strong team of co-founders. Moreover, do not start a project if you do not have a design and interface specialist, a marketer, technicians, and developers. LSBC always happy to help! Do not count people in the startup as hired workers. They are co-founders and partners in your common cause, and it’s worth treating them like that.

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