Becoming the boss of one’s own venture is never a short term pursuit. Many times, it appears to be a self-defeating undertaking. Maintaining a startup is a herculean task. Nearly twenty one years ago, Amazon.com was ideated by Jeff Bezos. Now, Amazon.com is ruling the internet based retail businesses in United States. The mastermind behind Amazon.com is Jeff Bezos. He clearly had an unusual business plan. He never anticipated any profits for the first five years. He took various factors into consideration.
Curios about the 5 factors that preoccupied Jeff Bezos’s mind? Setting up your startup’s office, consider these 5 things first:
Let me quote a witty phrase- ‘Beginning is the hardest but finding a perfect location to your startup is the toughest’. Office should be accessible. Location of the office brings cult status to the consumer and enterprise world. Before deciding on the location of your office, jot down the list of neighborhoods and locations. Transportation is mandatory. So, ensure that the cost of transportation is reasonable and most importantly-affordable.
Well, the journey of amazon.com began in a single room with less than 5 employees. So does infrastructure count? Yes, it does! Due to the radical changes in the behavioral patterns of people, infrastructure still remains an issue of prime concern. Let me tell you a simple truth- your office team remains unproductive without any access to internet and proper office space. Without proper office space, employees lacks vitality and hence the vibes stay cheerless.
Without proper investors and sound investment, one cannot expect to plough profits in the long term. Ensure that you win the trust of your investors. Maintain a ‘hand-in-hand’ relationship with them. Resolve any conflicting issues at the earliest. Sign the required documents and make them sign the legal documents. A startup cannot sustain in the absence of investors.
Startups have to keep this point in mind- For the first three-four years, one should never expect unmatchable profits. Do not look for a speedy cash-out. Understand the purpose of the startup and work accordingly to realize the short term goals. Slowly but surely, work on the long term objectives. ROI is a far-fetched dream during the first three-four years.
- Marginal Niche:
Choose the correct niche and not an obscure niche. Think out of box to face the competition. Never do away with the good ideas to avoid competition. Who wants an easy way? Perform and outperform your competitors with supreme derivative ideas.
Do you wish to carve a niche for yourself in the entrepreneurial world by setting up your startup’s office? Consider the aforementioned 5 things……Good luck!