{"id":4167,"date":"2020-08-07T11:14:38","date_gmt":"2020-08-07T11:14:38","guid":{"rendered":"https:\/\/www.octalsoftware.com.sg\/blog\/?p=4167"},"modified":"2021-05-04T13:44:32","modified_gmt":"2021-05-04T13:44:32","slug":"from-idea-to-startup-how-to-get-started","status":"publish","type":"post","link":"https:\/\/www.octalsoftware.com.sg\/blog\/from-idea-to-startup-how-to-get-started\/","title":{"rendered":"From idea to startup &#8211; how to get started?"},"content":{"rendered":"<p><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-full wp-image-4170\" src=\"https:\/\/www.octalsoftware.com.sg\/blog\/wp-content\/uploads\/2020\/08\/startup.jpg\" alt=\"idea to startup\" width=\"751\" height=\"639\" srcset=\"https:\/\/www.octalsoftware.com.sg\/blog\/wp-content\/uploads\/2020\/08\/startup.jpg 751w, https:\/\/www.octalsoftware.com.sg\/blog\/wp-content\/uploads\/2020\/08\/startup-300x255.jpg 300w\" sizes=\"(max-width: 751px) 100vw, 751px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Is your notebook full of good ideas just waiting to be implemented? Have you already <\/span><a href=\"https:\/\/www.octalsoftware.com.sg\/software-consulting\"><b>developed a business<\/b><\/a><span style=\"font-weight: 400;\"> in your head that everyone will be talking about? Then everything is ready to start a startup\u2026 Or not? We&#8217;ve gathered the steps needed to get started.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But why exactly are startups needed? We recently launched our latest service, Startup Consulting, which was created because we know that the future belongs to those who dare to dream big and invest in innovation. Think, for example, of the overwhelming success of Uber or Net Waiter \u2014 all of which couldn\u2019t have come about if the founders were just waiting to make it easier to \u201ctaxi\u201d or <\/span><a href=\"https:\/\/www.octalsoftware.com.sg\/food-ordering-app-development.php\"><b>order food online<\/b><\/a><span style=\"font-weight: 400;\">. But instead, they designed, innovated, innovated &#8211; and their calculations came in: with their businesses, they gave people something new, something unusual, which made their lives easier in some way.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Nowadays, universities and colleges where <\/span>entrepreneurship<span style=\"font-weight: 400;\"> is taught are becoming more and more popular among young people. Yet these institutions provide theoretical education rather than practice and real-life examples. What\u2019s more, it\u2019s not uncommon for them to be taught from decades of \u201cproven,\u201d familiar curriculum \u2014 even though today\u2019s business and market demands are changing so fast that there\u2019s a person on their feet who can keep up with it \u2014 and can even teach. Let\u2019s face it: entrepreneurship is not something that can be learned well in a school.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">That\u2019s why we\u2019ve now put together a few steps that can help you make an idea that is (and can be) a real business from an idea that\u2019s just in your head right now.<\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_41_1 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" area-label=\"ez-toc-toggle-icon-1\"><label for=\"item-6a19e8e10ae59\" aria-label=\"Table of Content\"><span style=\"display: flex;align-items: center;width: 35px;height: 30px;justify-content: center;direction:ltr;\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/label><input  type=\"checkbox\" id=\"item-6a19e8e10ae59\"><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><ul class='ez-toc-list-level-2'><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.octalsoftware.com.sg\/blog\/from-idea-to-startup-how-to-get-started\/#The_idea_itself\" title=\"The idea itself\">The idea itself<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.octalsoftware.com.sg\/blog\/from-idea-to-startup-how-to-get-started\/#Validation_of_the_idea\" title=\"Validation of the idea\">Validation of the idea<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.octalsoftware.com.sg\/blog\/from-idea-to-startup-how-to-get-started\/#Have_a_plan_for_your_company_to_enter_the_market\" title=\"Have a plan for your company to enter the market\">Have a plan for your company to enter the market<\/a><ul class='ez-toc-list-level-2'><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.octalsoftware.com.sg\/blog\/from-idea-to-startup-how-to-get-started\/#The_prototype\" title=\"The prototype\">The prototype<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.octalsoftware.com.sg\/blog\/from-idea-to-startup-how-to-get-started\/#Find_investors\" title=\"Find investors!\">Find investors!<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.octalsoftware.com.sg\/blog\/from-idea-to-startup-how-to-get-started\/#The_key_to_success_a_cohesive_team\" title=\"The key to success: a cohesive team\">The key to success: a cohesive team<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"The_idea_itself\"><\/span><b>The idea itself<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><a href=\"https:\/\/www.octalsoftware.com.sg\/software-consulting\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-full wp-image-4169\" src=\"https:\/\/www.octalsoftware.com.sg\/blog\/wp-content\/uploads\/2020\/08\/idea-for-startup.jpg\" alt=\"idea for startup\" width=\"1000\" height=\"667\" srcset=\"https:\/\/www.octalsoftware.com.sg\/blog\/wp-content\/uploads\/2020\/08\/idea-for-startup.jpg 1000w, https:\/\/www.octalsoftware.com.sg\/blog\/wp-content\/uploads\/2020\/08\/idea-for-startup-300x200.jpg 300w, https:\/\/www.octalsoftware.com.sg\/blog\/wp-content\/uploads\/2020\/08\/idea-for-startup-768x512.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/a><\/p>\n<p><span style=\"font-weight: 400;\">Every success story starts with a good idea\u2026 But what is a good idea? If you\u2019ve come up with a new <\/span>mobile game<span style=\"font-weight: 400;\"> that you and your friends will love spending time with, you\u2019re not at all sure there will be a demand for it in the market either. When it comes to startup ideas, perhaps this Einstein quote best shows you what to aim for:<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cIf I had an hour to solve a problem, I would focus on the problem itself for 55 minutes and just spend 5 minutes thinking about the solution.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Are you starting to understand? A <\/span>good idea<span style=\"font-weight: 400;\"> is one that finds a solution to some existing problems in the target market. As a general rule, a good product is like a painkiller &#8211; and not like a vitamin. Vitamins are essential for the body, it is good if our vitamin levels are adequate, so we often take them in the form of capsules and tablets. However, if our head hurts, we will not reach for the vitamin, but for the painkiller. If we project this model onto our target market and needs, we can see that it works the same way: if the market has a perceptible, descriptive problem and we can provide a solution to it, we are probably on the right track.<\/span><\/p>\n<blockquote>\n<p style=\"text-align: center;\"><strong>Also Read:\u00a0<a href=\"https:\/\/www.octalsoftware.com.sg\/blog\/why-singapore-is-an-ideal-market-for-startup-founders\/\">Why Singapore is an Ideal Market for Startup Founders?<\/a><\/strong><\/p>\n<\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"Validation_of_the_idea\"><\/span><b>Validation of the idea<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">So where are we now? You have a group of people with an existing problem and you have an idea that can help with that problem. Unfortunately, that\u2019s still not enough for a startup to become successful. After all, just think about it: when do you reach for a painkiller? Right after your head hurts? Maybe only in case of a very severe migraine, or already when the front arrived, saying \u201cit will hurt anyway\u201d? And which painkiller do you use among the hundreds and hundreds of brands available?<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As you can see, even on a topic that seems as simple as pain relief, there are significant differences between people. Therefore, it is far from certain that your solution will be ideal for them. Therefore, once you have the idea, it needs to be validated.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">And the easiest way to validate an idea is the \u201cfake door test\u201d. This means you need to <\/span><a href=\"https:\/\/www.octalsoftware.com.sg\/web-development-singapore\"><b>build a website <\/b><\/a><span style=\"font-weight: 400;\">and a marketing campaign &#8211; but you have to do it all as if the product actually already exists. So you work out the product, the whole concept, the features, and the pricing as well. Then you upload all this to your website, launch some ads, and watch the reactions. When the number of interested people reaches the set targets, all indications are that there is a real need for the idea you come up with in the market.<\/span><\/p>\n<h1 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Have_a_plan_for_your_company_to_enter_the_market\"><\/span><b>Have a plan for your company to enter the market<\/b><span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><a href=\"https:\/\/www.octalsoftware.com.sg\/blog\/cost-mobile-app-development-singapore\/\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-4171\" src=\"https:\/\/www.octalsoftware.com.sg\/blog\/wp-content\/uploads\/2020\/08\/what-is-a-business-model-1-1024x624.png\" alt=\"business-model\" width=\"1024\" height=\"624\" srcset=\"https:\/\/www.octalsoftware.com.sg\/blog\/wp-content\/uploads\/2020\/08\/what-is-a-business-model-1-1024x624.png 1024w, https:\/\/www.octalsoftware.com.sg\/blog\/wp-content\/uploads\/2020\/08\/what-is-a-business-model-1-300x183.png 300w, https:\/\/www.octalsoftware.com.sg\/blog\/wp-content\/uploads\/2020\/08\/what-is-a-business-model-1-768x468.png 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/p>\n<p><span style=\"font-weight: 400;\">There can be no business without a <\/span><a href=\"https:\/\/www.octalsoftware.com.sg\/blog\/cost-mobile-app-development-singapore\/\"><b>business model<\/b><\/a><span style=\"font-weight: 400;\">. Once you\u2019ve validated your idea, make sure you define the main direction you and your team will follow when starting your startup. Do you want to expand at home or abroad? What is the maximum amount of time and money after which (if you don\u2019t start a business) you decide it\u2019s time to look for something else? If you don\u2019t lay down these ground rules, a good idea can unfortunately easily become a waste of money and time.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The plan should be relatively short and to the point, easy to understand even for laypeople. Of course, it\u2019s important to be optimistic about your options, but try to formulate realistic, really achievable goals. Find out about the statistics for your country (ies) to get a more accurate picture of your chances. Learn to present &#8211; the <\/span><a href=\"https:\/\/www.octalsoftware.com.sg\/software-consulting\"><b>business plan<\/b><\/a><span style=\"font-weight: 400;\"> is not just about informing yourself and your team: when you are looking for investors, you will need to present something to them as well. One part of it is the business plan and the other&#8230;<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_prototype\"><\/span><b>The prototype<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The next step is to come up with a <\/span><a href=\"https:\/\/www.octalsoftware.com.sg\/software-product-development\"><b>prototype<\/b><\/a><span style=\"font-weight: 400;\">. You don&#8217;t have to downgrade or produce the full, final version of your product right away &#8211; just a version to demo, present your product or service. This is called the <\/span><b>Minimum Viable Product or MVP<\/b><span style=\"font-weight: 400;\"> in startup circles. With a validated idea, you\u2019re well on your way to a real startup. And with a good prototype, you too can get closer to finding out the exact user needs, and prospective investors can get some taste of your business right from the start. And if, based on the prototype, you see that it\u2019s not yet the real thing you can offer customers, it\u2019s still not too late to change &#8211; or even approach the idea from a whole new direction.<\/span><\/p>\n<blockquote>\n<p style=\"text-align: center;\"><strong>Also Read:\u00a0<a href=\"https:\/\/www.octalsoftware.com.sg\/blog\/cost-mobile-app-development-singapore\/\">How much does it cost to create a Mobile App in Singapore<\/a><\/strong><\/p>\n<\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"Find_investors\"><\/span><b>Find investors!<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">This topic is causing a lot of debate among startups. Many doubt whether there is a need for investors at all or whether a new business should rather support itself from profit. In addition, the following issue arises: some startups will already experience success if they have raised enough support for their project &#8211; although this does not mean that the business will be successful.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Either way, one thing is for sure: as a start-up entrepreneur, you\u2019ll probably need more resources than you already have, so it\u2019s definitely worth looking for investors. But don\u2019t make the mistake of leaning back after raising capital, since now comes only the good. The goal is always to float before your eyes &#8211; and that is nothing more than starting a successful startup.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_key_to_success_a_cohesive_team\"><\/span><b>The key to success: a cohesive team<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">It doesn\u2019t matter if you\u2019re 2 or 22 on the team. More importantly, these are the people that come out with each other. Try to keep the common interest in mind, but don\u2019t be afraid to pick people with different mindsets, cultures, pasts &#8211; you can learn a lot from each other. Do you remember the business plan you wrote? It will now benefit you: it will help clarify guidelines and set common goals. If everyone knows exactly why you\u2019re working, you need to spend less time explaining, meeting, and leaving a lot more time to focus on what you really need: starting a startup.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Is your notebook full of good ideas just waiting to be implemented? Have you already developed a business in your head that everyone will be talking about? Then everything is ready to start a startup\u2026 Or not? We&#8217;ve gathered the steps needed to get started. But why exactly are startups needed? We recently launched our [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":4170,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_editorskit_title_hidden":false,"_editorskit_reading_time":0,"_editorskit_is_block_options_detached":false,"_editorskit_block_options_position":"{}","_uag_custom_page_level_css":""},"categories":[21,567,625,206],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.13 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>From idea to startup - how to get started?<\/title>\n<meta name=\"description\" content=\"Every success story starts with a good idea.. But what is a good idea? 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