Millions of entrepreneurs are eagerly tugging at the leash to launch their startups with the prospect of being your boss and possibly earning a ton of money. Starting a startup is easier said than done, however, and most businesses that try to get up and running inevitably fail within the first few years.

Because we live in such a technology-driven society with the internet allowing us to connect with customers around the globe, launching and maintaining a startup business is easier than ever.

5 Steps to Start a Startup

Here are the five essential steps you’ll need to follow to learn how to start a startup fast.

1. Plot out Your Vision

The first and most essential step in launching a successful startup is to plot your commercial vision thoroughly. Many entrepreneurs have a rough idea of how they want to foray into the market. Yet, few of them draft comprehensive business plans that will steer them through the tumultuous starting period that all startups must endure.

You can’t content yourself with vague details regardless of how ambitious you are. Even the most dedicated entrepreneurs need a roadmap to follow if they don’t want to get lost or outcompeted in the open marketplace.

Those who want to set up a high-growth business can’t simply snap their fingers and expect the profits to start rolling in. You should review McKinsey’s comprehensive business planning manual^[1], which has been made publicly available, as this will elucidate the fine details you dare not ignore if you want your startup to be prosperous sooner rather than later.

This manual and similar guides will help you draft a tailor-made business plan for your startup, but remember that there’s no one-size-fits-all approach to commercial success. Manuals are excellent for giving you a general overview of what’s expected in a business plan. Still, you’ll also want to remember that your startup must chart its course with its specific strengths and weaknesses in mind.

This is an excellent time to plot out how you intend to lure in investors, too, as most of the investors you seek will inevitably want to see some business plan or similar document detailing the inner workings of your ambitious startup. If you can’t convince investors and prospective employees that you have a comprehensive vision of where your startup will be in a few years, then your commercial ambitions are effectively doomed from the start.

Now that you’ve plotted out your vision for your startup, Supposeou can move on to the next crucial step: assembling a team of professionals who will help you attain financial success.

2. Launch Your Recruitment Effort. In that case,e second crucial step when learning how to start a startup fast is launching your recruitment efforts early on in the process; the sooner you get some stellar employees on your side, the easier a time you’ll have navigating the marketplace.

Investors will be attracted to startups that have attracted talented specialists, especially since having the best human capital available is a surefire sign that your startup will stand apart from the crowd and become a dominant market actor one day.

Furthermore, workers will help give your startup a sense of legitimacy that’s sorely missing when you’re the sole employee, as few customers and investors will take you seriously if you’re a one-person operation.

Phrases like “recruit the best human capital” may sound savvy, but how can you go about actually doing it? After all, the best workers usually demand hefty salaries for their expertise, and most startups seldom have excess cash to burn. This is one of the most challenging aspects when starting your startup, as you’ll have to determine how much you’re capable of spending on talented workers without bankrupting your company, understanding all the while that too much penny-pinching can result in lackluster recruitment drives that drum up meager talent at best.

Every industry is different, so your startup can’t necessarily rely on the hiring models used by others. Nevertheless, conducting market research on your competitors is worthwhile to determine how they’re scooping up talented workers to see if you can copy their techniques.

In addition to scoping out what your competitors are up to, you should also be enlisting the help of technology; any twenty-first-century startup that isn’t tech savvy is going to struggle to attain success, so consider investing in human capital management tech that can expedite the hiring, training, and management processes^[2].

If you can’t afford to invest in expensive management software, consider doing things the old-fashioned way and searching for talent on today’s social media platforms. After all, the next generation of tech-savvy workers is constantly online, rendering the most popular social media platforms an ideal recruitment environment for your ambitious startup.

This strategy will also enable you to gain a more comprehensive understanding of the personal lives of your prospective employees, which will help you determine if they’re a good fit for your aspiring business.

3. Learn to Master Differentiation

After you’ve assembled an elite team of professionals who will help you learn how to start your startup, you need to consider how you will differentiate yourself from competitors in your local marketplace.

By their very nature, most startups are venturing into hostile territory from the get-go; when trying to climb to the top of your local market, you’ll face stiff headwinds from established businesses that don’t want to cede an inch of their turf to your budding company.

Rather than stand idly by as significant companies try to stomp on your growing startup, you need to take action to separate yourself from the masses and make yourself more attractive to new customers.

The previous steps are directly related to this; if you have a stellar workforce composed of talented individuals, your startup will have an easier time proving to customers and investors alike that it’s different from others in its industry.

However, learning to master differentiation takes more than hiring good workers if you want sustained attention. To clarify, you’re unlike anything customers, or investors have seen.

There are several techniques that aspiring startups can rely upon to differentiate themselves. Competitively pricing your goods and services is an age-old tactic that has worked for countless businesses in the past, but this isn’t always an option if your startup is desperate for cash and finds itself in need of higher rates to keep the lights on.

If cutting costs to offer low prices isn’t possible, your other option is to provide goods and services of unparalleled quality to your customers and clients in hopes that they come to associate your brand with excellence.

Reviewing a list of ways startups can differentiate themselves^[3] is a must for any entrepreneur who doesn’t want their new business to flounder in the market. Suppose you’re offering new and intriguing services like a blockchain service unlike anything presently available. In that case, your startup is much more likely to garner positive press for itself while attracting talented individuals in its industry who want to be a part of the best up-andSupposeoming company around.

Businesses that fail to differentiate themselves will inevitably fail, particularly now that. In that case, we’re in the era of specialized services tailor-made to meet consumer demands. Ignore differentiating your startup at your peril, as doing so will relegate your company to the dustbin of history before it can prove itself.

4. Know How You’re Going to Leverage Tech

After you’ve drafted a stellar business plan, recruited talented employees, and figured out how you intend to set your brand apart from others in the market, you can address the pressing issue of how your startup will leverage tech as it attempts to establish itself.

Most entrepreneurs eager to launch their own business have a simple tech strategy: digitize your operations to the greatest extent possible to cut costs.

In reality, however, this is far too vague a strategy to base your entire startup on. It would help if you had a specific, tech-centric plan addressing how your company will leverage digital technology to make a name while keeping operational costs under control.

You are establishing an IT budget as early as the startup process is an excellent start. If you don’t have an allotted amount of cash to spend on your digital operations, you’ll likely be overspending or underspending, depending on your industry. Getting your startup up and running as soon as possible is essential. Still, you must understand that rushing to establish your digital operations is a surefire way to weaken your startup’s market prospects permanently.

Who you hire is essential to know how you will leverage tech for success. For instance, if you rely on third parties to manage your digital operations, you’ll save money but lose significant autonomy.

Considering your startup’s industry and the local market conditions, you need to determine how much you’re willing to spend and whether you’re eager to have dedicated IT specialists as members of your permanent team.

While tech gurus frequently command high salaries, they’re often a worthwhile investment, particularly if your startup needs to establish a strong digital presence to lure in new customers and attract potential investors.

Marketing is an integral part of this process, too. Nowadays, virtually all marketing is conducted through digital mediums that demand IT expertise to truly master, so having some digital gurus on your side will undoubtedly bolster your outreach to customers. Knowing how to use tech^[4] to take your startup to the next level may be the deciding factor that determines your overall success.

5. Plan How to Scale Your Business Upwards

Perhaps the most egregious mistake many entrepreneurs make when leading their first startup business is ignoring that they’ll one day have to scale their business upwards.

Startups are tiny by their very nature, but some startups grow at a ravenous, insatiable rate that quickly sees them outpacing competitors and growing to such an immense size that scaling upwards is necessary if you want to keep operating.

You may think you have a plan for when you hit profitability and gain some extra spending money. Still, the truth is that scalability must be considered from the earliest days of your startup if you don’t want to flounder once you start hitting the big league.

When establishing your company’s IT network, for instance, consider how scalable your digital operations are and whether the tech investments you’re making right now will be helpful if your startup suddenly expands. Ensure you have adequate commercial insurance[5] to protect against cyber-attacks and other issues. Some software services are ideal for tiny startups, for instance, but simply insufficient once your business grows and finds itself in need of more complex digital services.

Furthermore, your hiring model needs to consider that you may suddenly need to recruit more employees to appease consumer demand or convince investors that you can keep growing.

This final step of starting a startup quickly is fundamentally tied to the very first step. When envisioning your startup’s future, you must consider what you would do if you were to attain success beyond your wildest dreams. This is because businesses plan extensively for failure yet seldom think about their next step if they achieve their goals under budget and ahead of schedule.

Keeping an eye on the future and understanding that scalability must be considered from the earliest days of your operations is crucial to becoming a successful entrepreneur.

15 Startup Business Ideas

Here’re 15 stellar startup business ideas for the burgeoning entrepreneur:

1. Online Coaching

If you know how to do something well and enjoy teaching others, launching an online coaching business can be one of the most rewarding business endeavors.

Whereas pre-internet, you would essentially be limited to the people in the city you live in, a camera and internet connection are all needed to share your skills with the entire world.

Are you looking to get started?

• Write down three skills you’re really good at.
• Break them up into how-to steps.
• Begin putting lessons together.

Whether it’s offering dating advice, teaching music, or yoga lessons, people are willing to pay for specialized coaching.

2. Social Media Management

If you haven’t noticed already, social media is everywhere, and every business on the planet is looking to use it to expand its customer base. Businesses attract new customers and keep existing ones informed about new products and services.

Creating social media posts for businesses and launching campaigns that truly go viral isn’t easy, but for those with a wild creative streak, it can be incredibly lucrative.

If you have experience navigating the ever-changing social media landscape, the sky’s the limit for expanding your client base.

It should also go without saying that being an expert in social media strategy will prove incredibly useful in growing your own business.

3. Healthy Option Vending Machines

After years of unhealthy processed foods, we see a movement towards more health-conscious fare. It’s happening in the restaurant biz, and vending machines are likely next to ditch the empty calories.

Employers want their employees to stay healthy. It means fewer sick days and higher rates of productivity. So many businesses are looking to ditch the traditional junk food vending machines and bring healthier snacking options.

The healthy vending machine wave is already a substantial $43 billion, and growing industry and new entrepreneurs have the option of launching with a single machine or fleet of any size.

4. Flipping Websites

Flipping houses is so 2010. Plus, it’s backbreaking labor, and there’s no telling when the housing market will take another downward turn.

If you’re willing to do your research, flipping websites can equal some fast cash — though it does require some skill.

Through buying and selling domains on your own or using existing platforms like Flippa.com, this is a business with absolutely zero overhead. When you factor in that every new company is launching a website and a good domain name is everything, this online business will be around for quite some time.

5. Virtual Assistant

If the word “virtual” is in the job title, you can bet that it’s a growing industry. Quite a few companies are out there looking online for remote help, and assistants are one of the leading roles they’re looking to fill.

As a virtual assistant, you’ll pick clients you enjoy working with and manage their emails, schedule meetings, and complete other tasks that need to be done to help their lives and businesses run a little smoother.

This startup industry should be especially appealing to somebody who is well organized and p themselves on planning anding others.

6. Crowdsourcing

It’s a term you’ll find littered they needorbes and The Wall Street Journal, and for a good reason.

Renting is more popular than ever. People would rather pay a few bucks to borrow X or have somebody do X task for them.

It’s precisely why mega crowdsourcing companies like Takl and Upwork are booming, and long-established companies like Budweiser and Coca-Cola are embracing the trend.

Are you looking to launch your own crowdsourcing business?

• Build a platform where people can list their goods or services.
• Get it in front of your intended audience.
• Take a fair cut of each transaction.

Find the right niche, and you might have the next Airbnb on your hands.

7. Drone Photography

Few technologies have seen the boom in popular culture the way drones have, and it’s estimated that some 600,000 are currently in the skies today.

Offering photo and video options that would have previously cost thousands of dollars and required helicopter use, drone photography is a booming industry.

Resorts use them to capture the grandeur of their lodgings from above, farmers use them to monitor crops, and newlyweds use them to take wedding selfies.

With a higher-end drone and good camera, an operator can tackle any number of projects.

8. Property Management

From housesitting to managing a vacation rental, ensuring that one’s property is properly cared for is a service that will always be in demand. Property owners may not be around to handle things like managing repairs or tackling the needs of renting guests and will need reliable help.

It will take some willingness to be flexible in your schedule, and knowing somebody who needs their home or property managed will help to help to establish early clients. This can be a very profitable business with an extensive enough portfolio.

9. Eldercare

There are more than 74 million baby boomers in the United States today, and as they age, they want to continue their accustomed lifestyle. Most want to continue living at home, but they’ll need more at-home care as they grow older.

Because of this, there is a wealth of opportunity for businesses that serve the various needs of senior citizens.

Whether helping with driving and delivery services, cleaning, landscaping, pet care, or medically-specific requirements, this market is a deep well of possibilities for anyone who enjoys serving others.

10. Monthly Box Services

Subscription box services are one of the fastest growing startup businesses today, and the vertices for these services are nearly endless.

They range from monthly tie subscriptions like Spiffster to Cuban snack services like Abuela Mami.

The business model is so appealing because it allows you to zone in on offering a premium service to a particular niche with continuous recurring revenue.

As the business grows, you can branch out to other products that people may want monthly or bi-monthly. This is precisely how Dollar Shave Club grew from nothing into a company valued at over $600 million.

11. Website Consulting

Remember earlier when we pointed out how every business needs a website? Many have no idea how to build or maintain a website and turn to outside help to get their business on the web.

If you are an IT wizard with an eye for design, the opportunities to custom-build websites are endless.

You’ll need the patience and know-how to deliver a stellar website that aligns with your client’s vision, but you’ll be able to charge several hundred dollars for getting their idea up and running online.

12. Plus Size Clothing

With all the technology focused on this list of stellar startup ideas, launching a clothing business seems out of place.

Customers and retailers are looking for more diversity and want collections and products that appeal to every body type.

There’s a real need in the fashion industry for more startups dedicated to curvy bodies, with 25 percent of women browsing through the plus size section. At the same time, shopping, opportunities abound for the right products.

13. Professional Organizing

Just like virtual assistants, property management, and website consultants, there’s a large market for those who can make life and business a little easier for others.

Suppose you can declutter an overwhelmed mom’s closet or help a business owner finally tackle the storage room that hasn’t been organized since the Clinton administration. In that case, your services will be put to use.

This job is only for highly organized people with an eye suppose making the most out of any sized space. As long as people are messy, this job will need to be filled.

Bonus: Combine it with crowdsourcing and expand yours. In that case, business is faster.

14. Gadget Repair

Cell phones and tablets are in the hands of everyone, yet most of us don’t know what to do past turning the device off and back on once there’s a problem.

People put their entire lives into these devices and can’t fathom the thought of going a day without them.

If you can repair a smartphone or tablet with a quick turnaround time, then you’ll always have customers.

Companies like iDropped smartphone repair are going national. Still, with the market for this service being anyone with a cell phone — so, everyone — this industry is going to continue to grow.

15. SEO Management

As long as people continue to use their smartphones, tablets and laptops to find their next Chinese restaurant/ landscaping company/ personal trainer, this business will be around.

Businesses big and small want to do everything possible to ensure that customers can find them when a keyword is plugged into Google, and those who know how to work that internet magic are in high demand.

Knowing how to manage SEO well isn’t something one stumbles onto; there are hundreds of algorithm classification factors, but it offers a passive income route to earn severe online revenue.

The Bottom Line

While the business world constantly changes and trends come and go, there has never been a better time to be a burgeoning entrepreneur.

The internet has allowed us to reach a greater audience faster than ever before, and with that comes new businesses and new ways for old business ideas to find tremendous success.

All the business ideas above are on the upward swing, but it’s up to you to find the one that fits best and make it your own.

Final Thoughts

Building a successful startup fast isn’t easy–you’ll need to make complex hiring decisions, invest prudently in the technology your company will rely on and be constantly ready to change course if things go south.

Furthermore, ever-changing market conditions can jeopardize your otherwise successful startup, even though you did everything correctly. Remaining flexible and fostering a persevering rely on, and constantly becessful startup leader. Keep that in mind, and everything else will naturally fall into place.