Technology startup - basic HOWTO

"One fine day 'A' wakes up and decides that he wants to do a startup" - "He feels proud of himself that he is going to be an entrepreneur"  - "Why does he want so?" - 

The answer is simple, "He wants to be RICH and FAMOUS. 

"How would he do so?" 

The answer is again simple, "He has an Entrepreneurial Orientation, that means he has an IDEA and he wants to make MONEY out of it."

"But, how? Who would buy the idea?"

The answer is again simple, "He has a Proof of Concept"

"What's the use of it?"

Answer is again simple, "He has the Environment. He can set up his service on Cloud. He can use SAAS model. User can pay per use."

"How would you get funding to do that?"

The answer is again simple, "He can use open source services. Further, he and a few friends of him can work on it on equity."

And the conversation can proceed. If one reads the story of Google or Facebook, it conveys having an idea and a concept can make a business in this environment of connected world. 

If nothing else, at least 'A' is very optimistic about being bought by a big company for a few million dollars.  

Though the skills required to run a business are the following - 
  1. Entrepreneurial Orientation
  2. Business Planning
  3. Economic Environment
  4. Business Economics
  5. Industry Analysis 
  6. Business Strategy
  7. Product Development
  8. Marketing
  9. Sales
  10. Services Marketing
  11. Product Management
  12. Operations & Supply Chain Management
  13. Accounting
  14. Costing
  15. Working Capital Management
  16. Pricing
  17. Finance 
  18. Banking
  19. Budgeting
  20. Managing People
  21. Law
  22. Taxation
  23. Communication
  24. Negotiation 
  25. Networking

However, the comforting factor is that someone can help 'A' do the setup. There are courses on entrepreneurship. There are communities (like TIE etc) and incubation centers (like NSRCEL and incubation centers in IITs etc) to help 'A' have an overall understanding of these factors, get funding, and hire right skills to do the job. There are accelerator programs (by Nike and Microsoft etc) to help him step by step.

Not everyone succeeds, but it doesn't stop 'A' from dreaming. Afterall, most of it starts with a thought