STARTUP HANDBOOK
How to Convert Your Idea Into a Profitable Business
Startup Handbook
How to Convert Your Idea Into a Profitable Business
By Lucy Kovalova-Woods
Cover photo by Canva.com
Cover design Artificial VA Team Ltd.
Copyright 2020 All rights reserved. WKGstrategy.com
No part of this publication can be reproduced or transmitted in any form or by any means, electronic or mechanical, without permission in writing from the author or publisher.
Disclaimer
Please note that the information contained within this book is for educational and entertainment purposes only. All effort has been executed to present accurate, up to date, reliable, complete information. No warranties of any kind are declared or implied. Readers acknowledge that the author is not engaged in the rendering of legal, financial, medical, or professional advice with this book only. The professional advice for your unique case can be requested by contacting the author or any other specialized industry professional.
By reading this document, the reader agrees that under no circumstances is the author responsible for any losses, direct or indirect, that are incurred as a result of the use of the information contained within this document, including, but not limited to, errors, omissions, or inaccuracies.
Contents
Foreword
Startup handbook - is a guidebook for the brave individuals who are willing to convert their ideas and dreams into reality - into the working and profitable business.
Wish it will be as easy as flipping the coin, one move, and you are living your dream? Well, it is almost like that if you are well motivated and know what to do. My goal here is to give you a what to do guide, yours- to build your motivation to follow this guide.
This is a second edition, and I was working on it for over a year. Im so happy to finally present it, knowing that it will help you and many other people around the globe.
You dont need ten books anymore to just start your business. All you need is this one book that will help you to organize everything for an optimal start with an effective growth of operations of your new venture.
There is no better way to learn than from experience and the real-time practitioner. What I am offering to you is to learn from my practice, use my experience to start your business, start building your dream. Ive worked with startups for over ten years now, six of those as an external consultant. Ive helped numerous startups and solo-preneurs from various countries and industries. My team managed to build a clientele base on all continents.
I know how hard it might be and how confusing it can feel at the beginning, especially with no experience. Ive started my career journey as an engineer, grew to the deputy of director, then to BDM, then to CEO within the advertisement industry. After that, it was IT, e-learning, and then my freelance journey that built up to the global three-directional business.
The idea behind building the business is to lead the team, keep control over operations and reinvent, building and growing effective income streams. Working on the second edition of the book, I can smile because of what my team achieved and what my clients, who started as freelancers or startups, achieved as well. I am proud of each team member and client Ive served over the years, I can appreciate my own achievements, and I feel gratitude for all the opportunities that have risen on my journey.
This is why I want you to learn from my experience; I want you to be able to bring your dreams to life and take control of your life. This book will help you do so, and Im here for you as well.
Anytime you have questions or need help on your project please do not hesitate to contact me personally, we will find the best solution for your business together. My email address is:
One more thing - this book is supported by the number of case studies. Thus, you will have real examples of how to make it all work - simple and clear examples for you to follow. All the case studies are from the actual projects and businesses; the names and numbers are changed/hidden, sensitive data has been modified.
So, lets begin
Acknowledgment
To my two wonderful men - Jim and Misha.
When I wrote the first edition, there was not much support around, but you two were there, as you are here for me now.
My amazing son, Misha, was 10 y.o. back then, and today, when I told him Im going to present the second edition, he said, Oh, yeah, mom, I remember Ive been the second pair of eyes to help you choose the cover design.
Today, I can proudly see him making his first steps towards his future business and career.
And Jim - the magic that can only happen once in a lifetime. Weve been working together for many years, and you always being my support. Today, when you are also my husband, theres more than just support - it is a constant feeling of happiness and joy from the life we created for ourselves.
Thank you, BOYZ You are the best!
Introduction
For the past eight years, we witnessed quite a transformation. The word, startup became a high-fashioned at first and a taboo afterward, when many people seem to cringe from just hearing it. I think it all came from the stereotype that all of the startupers are just dreamers, not doers. Another factor to cause that is that statistically, the startup average failure rate is over 85%. So yes, heres the skepticism.
Starting a business from the idea/concept you dreamed of, is not just for some dreamers, but for the brave minds who have a great idea to change the world, to help others, to develop an innovation, to change own life, - take control over it instead of sitting off nine to five job the entire life.
It is the action that nothing you can compare to - not a sport, not acting, not anything else. It is way more different.
Starting off and collecting advice, you need to remember you can learn, you can use other peoples experience, recommendation, but theres no such thing as a success recipe. If it were so easy to start own business and grow big, we all would have been entrepreneurs, the startup failure rate would have been 2%, and life will be different - all sellers, B2B model only, no janitors, or sellers in stores, and so on. That is science fiction (if it is) or a crazy dream.
Imagine you have a blank page and starting a new book. You have something in your mind, you have an experience, research, but you need to put it together and make it work readable, helpful, joyful model, description, summary. An exciting thing, right? Thus, the book starts from the first page, the conversation starts from the first word, the journey begins from the first step, and the business starts from the idea, pulled out of the dreamers mind. Do not be afraid to dream; be afraid to miss out on acting on your dreams and ideas.
For the startup, the journey from the idea to business in general looks like further sequence: the idea and its application should be analyzed, competition analysis conducted, and the advantage defined. Later the documentation and descriptions prepared, plan developed, and fundraising started. After all of this done and funds raised, the business considered being started, but it is just the beginning of your business journey. The most crucial part is that you need to make it work to make it (your newborn business) make money. The last part is where the most fail, but some struggle with the simple initial steps as well.
This book is not an ordinary theory book about business or startups. It is a guide for every person starting any idea that is aimed to make money in the future - the idea you will build the business from. From the first steps to the initial organizational points, I am presenting you with the guide to success (nope, not the formula, youll still have to work hard). But I will spare you from most rookie mistakes).
