How to create a Startup

Having a great idea is one thing; bringing that idea to life is another ball game entirely.

In my quest of building two startups at once: instinctHub.com and optimalinfographics.com, I might have the answers you need to start one.

When starting a new idea, the major challenge you will face is a lack of resources. Let me put it straight; you will need lots of money!

Unfortunately, if you wait to gather enough money before you commence, I doubt if you will ever start! So, to get an accurate picture, let me share a bit of my experience with you.

1. My reason for building a startup

I started my design journey in 2010, as at then, the internet wasn't accessible as it is today. As a result, designs were created off-hand, nowhere to get inspiration.

You will need to go to a cyber cafe to download images to be used in your project. Today, by visiting platforms like freepik and dribbble, it is easier to create designs because it can grab inspiration from other designers.

After working for three companies within the space of 10 years, designing and managing their brands, I realised it is essential I create a platform where my unique skills can be transferable.

On a serious note, the idea was so important to me!

The African continent has an 11.9% unemployment rate, according to trending economics. With a population of 1.216 billion (2016) people, the continent has over 145.9 million unemployed individuals.

That is a lot!

Let us set the record straight: these unemployed individuals are jobless not because there are no jobs, it is because people don't have the right skills employers are looking for.

I once spoke to a hiring manager at GTBank (a well-known bank in Nigeria), and he told me this same thing.

He said when they had new openings in 2020, and they called for applications, over 1k people applied, and when they vetted, it was once difficult for them to find ten people who have the right skills for the openings they had as at that time.

He even told me that the bank had to close some of the positions because they couldn't get people to fit in the roles.

With all these challenges, my startup ideas will impact lots of lives.

2. The fundamental challenges with building a startup

I won't say it is funding based on my experience so far; instead, I will say, the significant challenges are categorised into three:

Firstly, having the right product could be the most significant challenge! This is very tricky because ideas often sound nice; you won't know how broad, complicated, or complicated those ideas are until you start building.

Considering that people are already doing what you're about to start doing in the market makes it even more challenging to distinguish your core values.

Secondly, another challenge you may phase is getting the right people to work with.

Getting the right team can be hard not only when you don't have enough funding, but it can also be challenging when you do have funds.

You will have to search and search until you get people who will likely work with you regardless of what resources you have to put on the table.

Lastly, you will need lots of funding from your pockets, and often, it is not always enough; however, see it as an investment.

3. How to navigate through and build a startup of the future?

I will say you have to work super hard. If possible, try to analyse how many hours your competitions used in operating, multiply those hours; this is the only way you can outrun their output.

While in all of this, avoid unnecessary pressure. Instead, signal over noise; invest in improving the product and services (invest in research and development).

In the beginning, no one will help you; do things yourself. Of course, it will cost you your sleep, comfort and freedom, but please, try it out, and you won't regret it.

4. Putting it all together

• Generate the right idea; you can do this by trying to understand what you do well as a person, try to search for people who are doing similar things and what they've created. Learn from it and see if there are ways you could do yours better.

• In the beginning, you are likely to do most of the work. So you need to work as if your life depends on it (it does anyway).

• Be proud of your little beginning; in other words, show your work through all the available social mediums.

• Please, I will say, before you start pitching your ideas to investors, make sure you have tried it out and you have the complete pictures of the possibilities. Most startup founders' mistakes are that they focus on searching for money and leaving the project to suffer. This approach will put you under pressure, and if you are not careful, you will lie to your prospective investors.

5. You need a mentor

Finally, I will say, you need a mentor. Look for someone who has done so well in your niche and try to make them your friend.

It would help if you had someone to validate your ideas with; that's the advantage of having a subject expert mentor.

In the early days of instinctHub.com, I remember when I wasn't sure of what I was doing. I couldn't tell if I was doing the right thing because everything seemed so slow, and as of then, I was the only one doing everything (no team member).

I reached out to Ryan Carson, the CEO and founder of Treehouse, on Twitter. He was so welcoming, and he agreed to have a video call with me.

On the call, I was able to ask him all the things that were clear to me (since he has passed through the path). Earnestly his responses and tips validated my operations and gave me more momentum to keep pushing.

It is never too late to start! And if you've started, keep pushing and don't give up. Let me know your thoughts in the comment session.