How do you Start a Tech Startup? What Steps Should be Taken to Start a Tech Startup

Trying to set up a startup and leave your day job? It is time you gave it a serious thought and mull over the pros and cons. set the start rolling with these tips.

1. Do a thorough market research

Yes, conducting a thorough research should be on the anvil to find out whether your idea is worth all the efforts you put in. Write it all down and keep it in front of you. You will be more aware of the problems and how can you solve the same.  

2. Secure intellectual property

Securing an Intellectual property (IP) signifies that you can own the rights to a created product. Examples are patents, copyright, and trademarks. 

3. Finalize the branding

Branding is not just choosing a name but it represents you and your ideology. Do secure your website domain name and other marketing materials, while you do so. 

4. Incorporation

 Incorporating is the process of transforming your business into a legal entity and deciding how it will be structured. Usually, start-ups are transformed into an LLC, a C corporation, or an S corporation. Both LLCs and S corporations enjoy tax exemptions, while when it comes to C Corporation it is considered a taxable entity.

5. Choosing a co-founder

A proper support is an ideal way to execute your execution. Investors examine the funding team first before considering the idea when going for an investment. So finding the right co-founder is really important. 

6. Pick a workplace

Picking up the right workplace is more important than most people give credit for.  Different types of work environment suit different types of working styles best. While some founders choose to work from home right at the start to save money, while others choose to rent at a co working space, do whatever suits you best. 

7. Raise capital

 Financial investment is very important for the company.  The right resources prove to be of enormous help, consider your capital investments and understand them before you take it to the next level. Decide on the amount of money you want to raise and how exactly it will impact your startup. Your next step will be to decide how much to raise and how will you raise the same, whether it will be through crowd funding, get it from an angel 9investor or via a traditional VC firm, then go for the kill. 

This list may not prove to be all-inclusive, just a few ideas around which you can work around, and your mode of work will be much individualized and you should consider the ones which suits you and your team and of course you can add a few of your own, when it comes to starting a start-up there is no one size fits all guideline. Get help from business consultants in Chennai or chartered accountants in Chennai or anywhere else for that matter to set the ball rolling.