Very few people knows that I have attempted startup three times. All the time, I faced financial issues. I would like to share my learning experience when I tried to make product based company. Most of the people know me as bad man and I am really a bad man because most of the times I got some business ideas from normal discussions that’s why people don’t like to talk with me so much.
Failure does not mean to give up in life. Because it is the matter of time and direction of right efforts. These things I learned through experiences.
I took the startup on two different basic ideas with electric engineer and marketing/sales person. This post will all about what I have learned about product based company and product lifeline.
1. Initial capital is one of the important part for startup. Startup step shouldn’t taken till we have capital for one and half year.
2. First six months should spend on idea, documentation, business budget planning, business processes and prototype.
3. Next six months should spend on marketing and sales. These six months will leads towards success or failure.
4. Once you have success, then don’t forget product lifeline. Everything in the world has life line. It has to start from one point and end somewhere. Good business analyst will always take care of product as we take care of our children. Like initial stages, child take more attention, care and love. Than, it start taking food by own. Than, it start taking earning by own. Than, one day he die due to illness or any other reason. Product life cycle is also exactly same. We have to take care about product as child.
5. Education is very important part of life. Before class 9th, I love mathematics and poetry only. I always face problems in all other subjects, because my teachers did not teach us in the way at least I get any kind of attraction. Once I entered in class 9th, I found three more attractive subject for me, physics, chemistry and biology(for the short times only). These subjects thought me what is life and how it effects. Although, due to some reasons I joined computer science field. Education is very important part to renew product life. Ideas come out from different educational fields to renew product life line.
This topic is not end over here because it is a matter of reader life time.