How do you Start an Internet Business?

As Internet professionals we get asked the same question over and over. “I have an idea for an internet company. How do I start?”

It’s simpler than it seems

My answer invariably is as follow:

“Start building… Make a mockup and show it to people around you. Listen to the feedback, throw away your first version and do it again with all the knowledge you have gained from future users. Do that over and over. Stop until they convince you or you convince yourself it’s a bad idea. In that case, kill it and wait for the next idea.”

You read it right: make a mockup and show it to people. This is the only possible first step you can take if you want to turn your internet idea into a business. Don’t think your first step is to write a business plan. That’s the last thing you should do. Right now you have no business even less a product. What you need to know now is if your idea is a product/service people will want. Have you already figured out what they will pay you for? The best way to start is to put your idea there in front of them and listen to what they say as they discover your mocked up service.

In case you feel that you are not a UX designer, that’s OK. You don’t have to be. You just need to be able to put your idea into some kind of wireframe without design. It’s actually not that hard to create a mockup, either it is for a website or for a mobile app. There are a few great tools if you just Google “Wireframing Tools”. I personally use Keynotopia.com – It’s a set of templates for PowerPoint and Keynote. Their homepage says:

“… testing app ideas in 30 minutes or less.”

And… it’s true. If you know how to use PowerPoint, you can create a mockup. I’m not related to them and have no interest if you buy their product. I’m just a happy customer and I use them all the time. They are always my first point of call when I have an idea (well, after the mind map but for that I just use a good old pen and paper).

Once you have your mockup ready, this is when you either have to build your site or app yourself, pay people in cash or equities to build it, or find someone who can finance the idea in exchange for some equities in the company that would be incorporated around the idea.

It gets better

If you are going to need investors, good news; your mockups are your best friends again. Show them your idea! Either they will want the app/service or they will not. The rest are financial details for them. These details are important of course, but now you have the interest of an investor. What’s important is that you can go from having an idea, all the way to raising seed funding with just mockups and a clear monetisation strategy. All it took was to iterate on mockups following users interviews.

That’s how you start an internet business. By creating a mockup of the idea.

Once you have the fund, you need to recruit developers and designers and manage them. Sites like 99designs.com and odesk.com‎ or Freelancer.com are your best bet.

It’s mockup time Baby!

Once again, the first thing they will want to see is what your idea is. Well… How convenient! You happen to have mockups available so they can instantly understand your idea and transform it into reality.

Source: Keynotopia.com

Source: Keynotopia.com

Once the product is developed you will need to become an online marketing wizard, and hope people will talk about it and refer new users every day. But that’s not how you start. That’s how you grow, and the topic of another blog post.

You can also apply to an accelerator like StartupYard. Not only will you receive funding to start developing your first version but you will also be exposed to hundreds of professionals and specialists who will become your mentors during the 3 months program and who will help you develop your idea and be exposed to even more people. And guess what? One of the first things you will do at StartupYard is create a mockup and show it to people to refine and refine again your idea until it’s perfect.

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