CHENNAI : Start-ups just like everything else have a life cycle too. Being self-aware about where your business stands based on various parameters keeps your head afloat. Here’s a handy guide.
Conception and Research
The eureka moment of the idea to whether or not the idea is plausible followed by building it to a viable point is the first stage for a start-up.
Commitment
Once you decide upon an idea, the next step is to put it into practice, with a prototype, a structure and a team.
Traction
This is typically the first year of a start-up. This is the stage where you begin to get the word out about your product and gain your first customers.
Refinement
Using the feedback from early adopters, you continue refining your product or service.
Scaling and Establishment
The next stage of a start-up is scaling, or growing your customer base, your offerings, and your company itself which will establish your company.