Founding your own business and becoming an entrepreneur has never been as popular as it is today. There are many innovative startups out there that provide fantastic services and products, and they go on to be multinational, even multimillion dollar businesses. However, before a company can transition from a startup to a multimillion dollar corporation, it needs to undergo the startup phase.

And most importantly, before you can found a startup, there is some groundwork to be laid. Though founding a company is nothing more than a bunch of paperwork, in theory at least, before you do send in the papers, you should have a set plan for your business and how to execute it.

Reza Shojaei is the owner of Value Marketing - a company that he took from a small startup to a multinational corporation that employs dozens of people globally. Today, he will advise us on what every entrepreneur should do before founding a startup.

A thorough business plan is your key to success

Before you can even imagine getting started with founding a business, you have to have a great idea and put it on paper. A thorough business plan is vital for any business, and it should be comprehensively drafted.

A business plan includes, for instance, the contact information and mission statement for your company, business idea, target demographics, marketing plan, financial projections, and more.

- A business plan is a living organism that can be updated when needed. For instance, our company did not, in fact, get started in the casino industry. Instead, we used to do face-to-face marketing. Later on, we updated the business plan as we redirected our company to a different direction, Shojaei says.

A business plan is all about math. At the end of the day, your business can only be successful if the company brings in more money than it spends. No matter how good your idea, product, or service is, your job as a future business owner is to ensure that it is going to result in profits.
Marketing plan is a part of your business plan
After you have drafted your business plan and included target audience and other details, you should also figure out how to market your service or product. After all, the more people know about your product, the more people will buy it.

A marketing plan includes, for instance, your marketing channels, goals, and budget. Each business should determine which marketing channels are the most effective ones and how to start marketing.

- Online based businesses can benefit from digital marketing very well, whereas local businesses might want to consider collaborations and even direct marketing, Shojaei advises.

Financial projections are important

Financial projections are an essential part of your business plan. After all, you have to ensure that your idea will result in profits. If you do not have any financial transactions to base your projections on, making estimates can be rough. Despite this, you should make projections at least for the first year, and divide the year into quarters.

If you are involving investors into your projects, they will most likely want to see financial projections further out into the future, for instance, 5 years ahead.

Think about the location

In business, location can be the difference between a successful and an unsuccessful business. Of course, if your business is online-based, this does not apply to you. However, if your business is a local shop or a store, you will need to scout possible locations carefully. Even a block into the wrong direction can limit your cash flow.

Choosing a central location where people see your storefront and express curiosity maximizes your profits.

Where does the money come from?

Almost every business needs to have some capital in the beginning. Usually, businesses have overhead costs that need to be paid before a business can open. For instance, you might need to make investments, such as buy equipment or inventory. Also, you will need to cover the cost of rent and utilities, as well as pay your employees.

In the first months, the business will not be making a profit. This is why you as a business owner need to have either savings, a business loan, or an investor backing you up. In fact, many promising startups fail simply because they do not have enough capital to start out. They struggle the first couple of months before filing for bankruptcy.

So, before opening your own business, ensure that you have money to operate the business and cover all costs until it starts to make profits.

In conclusion, proper planning is half the work. When planned properly, a business can excel and move from a startup to a multimillion dollar corporation at a steady phase, growing and making more profits.

Wondering what are some of the most common mistakes to avoid choosing the best app developing companies? If yes then you have come to the right place.

There is no doubt that mobile apps are one of the most important things for any business. As smartphone usage is growing. Hence it is the perfect market to target. But there are quite a lot of people who end up making a lot of mistakes while choosing their first app development company.

So to help you in preventing them I am going to mention some of the Common Mistakes To Avoid While Choosing the best app developing companies. So let’s just head into the topic without wasting much of the time:

Common Mistakes To Avoid While Choosing the best app for developing companies

Going With A Company Which Has No Experience

One of the first mistake that many people makes is that they go with a company which has no experience. Although, there is nothing wrong in that. But if you want the best service then you cannot rely on a company which has no prior knowledge on app development.
As a result, they will face a lot of issues while making your app. And you may end up compromising with your deadline or unsatisfied work. That is why you should always go with a company which has some experience.

Incomplete background search of the company

There are times when we end up hiring a company without knowing their background. Hence it is always a good idea to know about the company. So you can get a basic idea of whether the company will be able to do the job or not. You can figure this out by knowing how many apps they have developed previously and what kind of apps they have developed, what their customers have to say about them. Well in most of the cases you can find all these information on their website only. But in case if they do not have such information listed then do ask the mobile app development company for their portfolio.


Lack of communication skills

Would you like to hire a company which lacks at communication skills? Of course not. If they are bad at communication then they will never be able to understand what kind of app you want to make or what should be the design. Even if you want to make some changes in your design you are going to face a tough time.

Trying to save money

When it comes to app development you should not focus on saving money. As it will only lead you to poor and unsatisfied work. Of course, it is okay to have a budget. But do not focus too much on saving money. If you would like to hire a good app development company for your app development requirements. You will need to have a good budget for the best app.

Wondering what is a software development process? If yes then we are here to help you out. Software development is a lengthy job. You do not immediately jump into the coding part. But there are some other factors that you need to consider while developing software. And to make you understand it in a better way, let us tell you about the software development process:

What is the Software Development Process?

Requirements Analysis

The first step is the requirement analysis. In this step, the developers need to extract the requirements that need to build the software. At one side the client knows what the software is all about. But as a developer, you have to work a bit extra hard to get the idea. Figure out what are the skills required and what are frameworks you will be using.

Software architecture

The next step is software architecture. In this case, the software refers to an abstract representation of the software. Also, the architecture of the software ensures that all the requirements are going to meet the requirements of the product. Also, it must support future requirements.

Start Coding

Once you are understood all the needs of software development, the next step is to code. You have to start coding and come up with a prototype of the software. Also, you will have to design the software in this step and send it to the client and ask them if everything is okay or not. Also, if the client says that there are some changes that you need to make, then you have to do that in this step only. And complete the project.

Testing

Once the software is computed, it’s time to test it. Since you cannot just go ahead and hand over the software to your clients. Instead, you have to test the software at first and check if there are any bugs that are not. If there are bugs, you have to fix them. Check for the areas where improvements are needed. And then make all the required changes and complete the software.

Implementation

Now that you are done with the software completely. Its time to implement. It’s a web based software then you have to implement the software to a web server. Or to the client’s private server. On computers, they will be using your software.

Maintenance

In the end, you have to take care of the maintenance part as well. You never know what kind of issues your customers will face in real time. And as a developer, you have to fix those issues too. Even you will also need to offer time to time update of the software. Plus, if your client needs any future developments, then you have to take care of them as well.

Final Words:

So that was all about the software development process. This is the only roadmap that is getting used by software development companies like Vironit and others. Anyway, if you have any more questions to ask, then do feel free to comment below.