Key Points To Remember During Your Startup Journey
                     Key points to remember 
during your Startup Journey
Market 
research
Conducting market research is the first and 
most important step when thinking about 
starting a business. It is a way to gather 
knowledge about:
• Inherent customers
• The target audience
• Demand and desire of the product
• Market size and value 
• The preferences
• The competitors
Source: www.mapsofindia.com
Conjecture the Dedication
Starting a business is not an easy job. It 
takes a hell load of hard work, 
determination, sacrifices and whatnot. 
It is comfortable to think about starting 
up a business but implying the ideas and 
executing them makes anyone’s spine 
shiver.
Source: www.mapsofindia.com
Business Plan
A business plan is essential as it lays the 
foundation and principle of the business. 
Using a road map or a vision board to 
create through the critical components 
of one’s market leads to better planning 
and execution.
Source: www.mapsofindia.com
Preparing a budget
No business works without proper 
funding and budget. A person’s goal 
might be greater than the budget, 
leading to financial problems.  
Make sure to evaluate your budgets 
monthly. Self-funding is the most 
important as you grasp complete 
authority over the business. 
Taking money from trustable and long 
term “angel investors” is also a good 
move. 
Source: www.mapsofindia.com
 Prepare a business structure
Register the business to the government 
for licenses, copyrights and tax ids for 
paying taxes. 
Decide whether the business would be a 
partnership, Sole Proprietorship, Private 
Ltd or Public company. 
Source: www.mapsofindia.com
Register the business, take 
license permits
Business owners should register with the 
federal government to become a 
legitimate entity and have trademark 
protection or tax exemption. 
If the business is a franchise of an 
established company, it is essential to 
look through the legal documents. 
Check if a Seller’s Permit is required. It 
sanctions the business to collect sales 
tax from patrons.
Source: www.mapsofindia.com
 Self-discipline
In every way, running your own business 
– especially during its startup phase – 
requires discipline in all areas.
Source: www.forbes.com
Flexibility
If there’s anything that’s consistently 
true about launching a startup, it’s that 
very little will be consistently true. 
When you put so much time, effort and 
faith into one business plan, built on one 
business model, it’s logical that you 
would have trouble accepting that 
maybe it needs to be modified, or worse 
yet, scrapped and rebuilt entirely.
Source: www.forbes.com
Follow-through
At the end of the day, knowing how do 
so something is arguably more 
important than knowing what needs to 
be done. 
Source: www.forbes.com
THANK YOU