A start-up begins with an idea, which then slowly expands with the addition of other ideas. Still, the process to actually transform the idea into a start-up is significantly more difficult. Many aspiring entrepreneurs give up or do not succeed due to the obstacles they meet prior to launching their business. The common mistakes can, however, be avoided via careful planning and education. Below are some of the most important steps that precede the debut of a start-up.

1. Round up your ideas

As said above, the initial idea which motivates you to begin a start-up can be quickly surrounded by other ideas. While all of your ideas will seem interesting, some may be good and some may be detrimental to your progress. Deciding what to keep and what to discard is a very important step in the path to launching your business. It will help you define your target market and refine your idea so it is fit for generating income.

2. Test your idea, product or service

Before investing all of your savings in a start-up, you might want to test your idea. Validating your product can save money on unprofitable ventures. It will also give you a better idea about the reception of your service. Tests of this type can be conducted in several ways. One of these is to create ads about your product and to see if people click ‘BUY’. If customers are not tempted to buy your product before it launches, chances that they will do so after are thin.

3. Create a business plan

Creating a business plan is a step that many business starters skip, which in most cases results in their downfall. A business plan can be helpful in many ways. For instance, launching a start-up requires funding. To access the necessary money, you are likely to look for investors of some sort. These investors are more likely sponsor a business which has a clear-cut, realistic and profitable plan than a blurry idea. Also, drafting a business plan is not difficult. It is but an elaborate summary of your business’s estimated growth during its first 3-5 years. It should also include ways in which you plan to take your start-up from point A to point B.

4. Join an incubator

An incubator is a good option, one of the best even, if you are a new entrepreneur. To give your business a better chance of survival, you need to surround yourself with the right people. This includes lawyers, potential associates, and investors. In this sense, incubators allow plenty of chances to network. Your start-up is bound to benefit from an environment in which you can communicate and exchange ideas with like-minded individuals. The support from the incubator can also be helpful when contacting investors so as to secure funding.

5. Get started with branding

Another mistake that business launchers make is to skip branding. Making your brand known to your potential clients even before you start selling to them is very important. It will build the foundations for your customer base and will give a good boost to your launch. You should make sure that your brand reflects your product/service and that it is catchy enough to be remembered. Once you launch your business, you can then grow your brand via social media networking and blogging.

6. Create your website

Nowadays, having an online presence is as important, if not more so, as having a physical location for your start-up. Indeed, your business needs to appear on browsers when people search for keywords on the internet. This is very important as it will increase your credibility, help in your branding and ultimately lead to sales. However, websites take time to build and take even more time to get viewers and clicks. Getting started on the creation of a website for your business before its launch is therefore crucial.

 

It goes without saying that the six steps mentioned above are merely the tip of the iceberg. There are countless other procedures that you will go through prior to launching your start-up. That will also only be the beginning. Even more work awaits you after the opening of your business. Maintaining the upward curve of your start-up’s growth can be as hard, if not harder, than getting it started. Therefore, if you wish launch a business, the time to start working on it is now.

When considering start-up ventures in 2019, innovation seems to be one of the central keywords. People want something good, something better or something new. Following this logic, some businesses have a higher chance of success than others. This article lists some of the most promising start-up ventures. These may or may not seem very exciting right now. However, they have the potential to be highly in demand in the future.

1. Social Media Management

The right time to launch a business in the field of social media management is undeniably now. Advertising trends are shifting drastically and the world is more connected than ever. Businesses want to increase their online presence and take advantage of the exposure that social media sites offer. However, the number of websites that need to be kept track of and animated is enormous. It is enough to create job and start-up opportunities that have a very high probability of success. Starting a business in this field also does not require much capital and presents a variety of advantages, including flexibility. This, along with other benefits, can make for a smooth but satisfying start.

2. Online Coach/ Consultancy

There are various ways in which a start-up in online coaching can be made into a successful business. For instance, considering the rise in healthy eating awareness, a lot of people would be willing to spend money on solid advice about their food. Gyms are also currently popular, which means that the fitness market is rising. As such, online fitness coaches might be highly in demand soon. One other way would be to take advantage of the competitive employment market. Giving advice and teaching clients skills that will enable them to land jobs are bound to financially succeed.

3. Online Teaching

In line with a pattern of online jobs, this start-up follows the same logic as the others. People are more connected than ever and they go online for services that they would otherwise have physically sought. Teaching is one of these services. Whether it be learning languages or specific subjects, online platforms such as Skype can be incredibly useful. Time also plays a crucial role in making this venture promising. People do not have time to physically attend courses. However, they are already connected to the internet for work or leisure. It is much easier for them to log in for an online course. Simultaneously, it may also be easier for an online teacher to get more students and therefore, more money.

4. Web Development

The website market is booming and web developers already are and will surely still be in demand. Opening a start-up in this field would therefore mostly guarantee success, depending on the skills of the web developers. This is, after all, sensitive and time-consuming work that not everyone can commit to. The only alternative is to pay for it. Another way to go about becoming an entrepreneur in this field would be to build a series of niche sites. These would then be connected via affiliate links in order to earn passive income. In any case, web development is one of the top start-ups to consider in 2019.

5. Eco-business / Plastic Alternatives

With the decreased use of plastic across the country and the global sensitisation campaign on the matter, people are less and less willing to use the material. There is no reason to keep using plastic if there are good enough alternatives. As such, this field has potential to grow into a flourishing market. An idea and investment in the idea are all it takes for a business to thrive. This field is no different. As mentioned above, people always want something good, which would be an original idea; something better, which would be an improvement over the original idea; something new, which would be an innovation.

 

As the markets continue to evolve, more start-ups will emerge and succeed according to the trends. Picking the right time to launch a business is therefore crucial. There is a common factor in most of the above-mentioned start-up ventures and that is connectivity; technology. Whether to take advantage of this era of online importance or not is a decision that is up to future entrepreneurs.

Turbine has the pleasure to receive 20 years old Matina Razafimahefa, CEO and founder of award winning best social enterprise of Madagascar, SAYNA. The competition was organized by “l’Organisation Internationale de la Francophonie” in March 2018 and a Madagascar incubator, Incubons.

Matina is spending one week at Turbine as part of her prize, the aim being for her to know better the entrepreneurial ecosystem, meet key people and make partnerships.

We bring you her exclusive interview with Turbine!

1. Hey Matina, tell us about you and what best describes you.

I am a young Malagasy woman, student in sciences politics at Sorbonne and a social entrepreneur! If I have to choose 3 words to describe me, I would say : fearless, crazy and adventurous ! I love having new challenges, being out of my comfort zone and I am not afraid of the unknown.  I am passionate about meeting new people and knowing their story so that i can help them or learn from them.

2. Tell us about your start-up, SAYNA.

SAYNA means intelligence. I launched SAYNA in November 2017. However, SAYNA has been on my mind since 2013  when I discovered the educational system of France, which compared to Madagascar, is free and of great quality. Back then, I thought that being a woman and that too so young, I cannot do this project. I changed my mind last year when i met Emma Rosman who built the Welcome app which helps immigrants to find jobs, friends and family in Sweden, who also happens to be young and a woman. Inspired, I decided to go for my dreams and launch SAYNA. I am so happy I did. Sometimes, just a single step and a little encouragement lead you to dare and break barriers.

SAYNA help young people rise out of poverty by training them to be a web developer. We have 12 students finishing their 4 months intense training this week. They will each be joining a company, notably Acces Bank, La Star, Axian, P4H among others.  We have 12 more trainees joining us as from Monday 18th June, pre-selected by the companies who will be recruiting them. The company pays for their training,  which is 800 Euro per student, the most affordable code training in Madagascar.
SAYNA has educational partners such as the Hacking Project and hopefully very soon Simplon, who train the students at our premises in Madagascar.

SAYNA exists because I want be part of that generation that will make this world a better place and provide better quality education.

3. Tell us about the competition you won.

I am here in Mauritius and  at Turbine because SAYNA won the competition of the best social company of Madagascar 2018 awarded by the « International organization of Francophonie» and « Incubons » a local incubator in Madagascar. Out of 30 projects, only 10 reached the final destination; the pitch. SAYNA came out as a star project. Check out the sneak peak of the award night here.

4. What brings you to Mauritius?

The prize was a business trip in Mauritius with Turbine so that I will be able to meet new clients, build new partnership and help create a good atmosphere of collaboration in our beautiful region, the Indian Ocean!

The things that I want to achieve here is simple : have new clients and partners  & give the opportunity to the Mauritian firms to have a huge social impact beyond their borders by working with our students !

How is your journey in Mauritius so far?

It is totally crazy. I am meeting interesting people, potential big clients and partners. Turbine is really an incubator with a vast network. They planned all my visits, gave me contacts, invited me to their events and even gave me a Mauritian welcome lunch!

Turbine is really such a beautiful place, the atmosphere is so fun yet productive. People here are so helpful, constructive and amazing.  One week here is too little. I am coming back for sure!

What is your vision of SAYNA?

I want to see SAYNA grow and have 10,000 digital workers all around the world in the next 6 years.

A tip?

Yes! Imagine what you would do if you get an unlimited credit card? And when you know what you would do, set your goals, plan, find the ways to achieve your goals and just go for it!

The Turbine had the chance to host Dasha Kelly Hamilton, American spoken word artist and social entrepreneur though a fabulous event organised by the US Embassy!

With Dasha’s guidance, we learned tools to use our creativity in exciting and productive ways. Thanks to an imaginative and empathetic group of participants, we could come up with new ideas by going out of our comfort zones.

We were quite impressed to see how newly formed teams could draft comprehensive solutions to tackle civic, economic and social challenges!

At Turbine, we hope to keep contributing to connect creative people from different industries to build collaborative communities of entrepreneurs who will make Mauritius, the region and the world a better place!