Startup Stages 🌈

Pre-seed Stage
What you need to do:

⁃ Create an idea/ product hypothesis
⁃ Analyze the market
⁃ Find like-minded people
⁃ Refine the idea

At this stage you look for an idea and work out ways to implement it. Besides, it’s necessary to analyze the market and make a business plan.

Afterwards, look for funding sources. If you don’t manage to find an investor, the project starts to fade. So don’t be afraid to speak about your idea — it won’t be stollen. Nobody can implement the idea better than its creator.

Seed Stage
What you need to do:

⁃ Set aims
⁃ Reanalyze the market
⁃ Identify and study the customer
⁃ Prove the demand for your product

Once you find an investor, you should delve into your target audience and product features more precisely. Your product should clearly demonstrate its advantages over other analogues in the market.

What you need to do:
⁃ Create a technical requirement
⁃ Come up with an offer
⁃ Set the right direction
⁃ Develop MVP (minimum viable product)
⁃ Launch
⁃ Analyze the result

The point of this stage is to implement not a grand idea full of various functions but a basic version only with essential functions.

What you need to do:
⁃ Intensively promote the project
⁃ Mind the juridical aspect like brand registration
⁃ Test the product, detect and eliminate errors
⁃ Refine the product, brand and its leaders
⁃ Again look for investors

At this point you should pay much attention to possible drawback in terms of the product quality, usability, and design. Moreover, make sure you have a perfect team that is ready to push your company forward.

Expansion Stage
What you need to do:
⁃ Employ true professionals
⁃ Look for a new niche, sales funnels, and target customers
⁃ Form a corporative culture

As soon as the set aims are achieved, you shouldn’t stop. It’s high time to expand across the market and actively promote the product. Your startup is no longer vulnerable: you have reached recognition, your product is steadily used, and income increases.

What you need to do:
⁃ Delegate management
⁃ Expand the staff
⁃ Look for opportunities abroad
⁃ Create localized teams for more efficient results
⁃ Keep growing

This is a stage when you startup is in the prime of its life. Frequently investors start selling their shares to larger players which brings tons of money. Basically, that was the purpose of investing in the project. Even though you have reached more than you were expecting to, never stop. Keep developing the business and enjoy each stage.

Which stage are you at? Share in comments 💬