| A business startup (otherwise known as a startup | | | | physical energy needed to start a business. |
| company or just simply, startup) is a company at its | | | | 3. Start a business with a family member or a friend |
| first stages of developing the product or service which | | | | who can act as a sounding board for ideas and can |
| their business founders believe will be in demand. | | | | lend a sympathetic ear and shoulder. People starting a |
| These companies are usually financed by its founders | | | | business need a support system especially when a |
| but since this kind of funding will not be sustainable in | | | | crisis occurs. Some entrepreneurs choose for the |
| the long-run, it will require additional financing from | | | | experienced guidance of a mentor, or enroll in a |
| investors and venture capitalists. | | | | support program for startup companies. |
| Although this type of companies exists in all types of | | | | 4. Evaluate the existing demand for the potential |
| business around the world, the term is mostly | | | | business venture. Research the market you will enter |
| associated with the information technology and the rise | | | | and find out everything (including the size of the |
| of many so-called Internet startups during the dot-com | | | | market, possible demand for the products/services, |
| bubble in the1990s. Many of these Internet startups | | | | likely competitors) before committing yourself to |
| eventually failed mainly due to the lack of sustainable | | | | implementing your business idea. |
| revenue or major flaws in their underlying business | | | | 5. Make a business plan to at least to know if the |
| plans. Some of these Internet startups, however, did | | | | startup will succeed or not. It does not have to be a |
| survive even after dot-com bubble burst, like the online | | | | full-scale business plan for you to know this. |
| bookseller and Internet auction place eBay. Most of this | | | | 6. Since a new business venture is likely to take a long |
| startup activity was from an area in California called | | | | time to actually make profit, you should think about |
| Silicon Valley, which is still known for having a lot of | | | | starting a business while still employed. This will make |
| startup company activity. | | | | sure that means there is still money available even |
| A company ceases to be a startup if it has undergone | | | | while you are going through the startup process. |
| various developments, such as being publicly traded, or | | | | 7. Line up clients or customers even before the |
| being merged or acquired by a larger corporation and | | | | startup's official start. Try networking or make the |
| ceasing to be an independent entity. Or in an | | | | contacts by selling or giving away your products or |
| unfortunate turn of events, startups may fail and stops | | | | services. |
| operating altogether | | | | 8. Try to understand all the legal intricacies involved of |
| Want your business startup to succeed? Here are | | | | starting and operating a business, such as the legal |
| some tips. | | | | requirements for your type of business, and laws on |
| 1. Enter a business area that you deeply enjoy, since | | | | health and safety |
| you are going to spend a lot of time and effort to start | | | | Although there are many organizations and resources |
| it and make it succeed. | | | | meant for a business startup, its success is ultimately |
| 2. Ask yourself if you have the necessary skills, | | | | up to the dedication of the person or persons behind it. |
| initiative, determination as well as the mental and | | | | |