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5 Things that should be done before you start your company
By SiliconIndia   |   Friday,August 26,2011
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blocks but you need much more than that. You need to know how to sell your idea to your customers, your venture capitalists and to the world. This is where marketing comes. You need to manage your money; finance management comes here. You have to manage your people; people management (not micro-management). You need to stay away from getting sued or any other legal troubles; legal structure. You do not have to be an expert in all these, but a complete ignorance is not recommended.

Money Matters

If you are not in a financially sound situation then do not bother even trying to start a company. The company that you are thinking of starting will be like a rebel teenager from t
he very first day. It will need a lot of money, will not be careful in spending, and will not give you anything back in the first few years. So, either you should have an investor to back you up or, if you are bootstrapping it, you should have a reasonable bank balance, a bank balance big enough to support it until it starts making money.

Name

Naming your company is as important as any other part of it. You need a catchy name that is unique and short enough to remember. The issue is that, there are an impossible number of companies
in the world and they have already used almost all possible words and combination of words. So make sure you are not using a name that is already in use. A name that reflect yours and your company's values and characteristics would be great, but that again is easier said than done. With your name you are communicating with the world outside, so what matters is what they understand from the name and not what you understand. If the name for you means something really positive and the reader gets a really different idea that contradicts yours then the whole point is lost. So name thoughtfully and carefully.
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