If you’re looking to join the ranks of successful start-ups like Owlet Baby Monitors, FiberFix, and EcoScraps, BYU’s entrepreneurship program—rated third in the country—is the place for you. Even if you’re not in the program, there are many resources on campus and online to help you get started. Here’s some wisdom we’ve found to help you build your own business.
Where to Start
Forbes writer Brent Beshore compiled “The Non-Entrepreneur’s Guide to Starting in Startups,” a list of places to turn for inspiration and the latest news on start-ups and venture capitalists. Everyone has to start somewhere, and this is a great guide to getting in touch with what information is out there.
It’s About Who You Know
In “A Wearables Startup Playbook” on TechCrunch, venture investor Tim Chang shares his tips on starting a tech company in the wearables field, yet many apply to just about any market. His suggestions include assembling team members with various skills to cover all your start-up’s needs, from product design to software to marketing. These folks will be building the foundation of your company, so make sure you hire enough people to handle all the varied tasks you’ll need for your start-up to flourish.
Chang also suggests tapping into the power of crowdfunding by sharing your story. Once you help potential investors and customers know why you are passionate about your venture, they will want to be a part of it. But before sharing your product, make sure you have thought out the timeline and can deliver it on your proposed schedule.
Number Crunching
Danny Crichton, a former venture investor and writer for TechCrunch, gives “The Complete Quantitative Guide to Judging Your Startup.” This handy tutorial shares how to analyze your business’s performance and share your stats with potential investors. He outlines the numbers you’ll need to convince investors that your start-up can become a successful venture. With instructions for finding financial, user, acquisition, sales, and marketing metrics, this article will help you confidently tell investors that buzz about your product is, indeed, viral.