A few people get together and come up with an innovative solution to a common problem. They test out their new solution, iterate a little, and find something that works and that a sizable group of people actually want to use.

Add rigour and discipline to your brainstorming and idea evaluation process: Build lists of potential customer types and business or pricing models. Evaluate the opportunities where these lists overlap. Then, exit your ivory tower and evaluate the top ideas with real potential users, customers, or suppliers.

When launching a startup, location can be a crucial factor that determines whether or not you are going to be successful. Even though most of your business might be done online, and you can hire remote workers and network through email, the physical location of your office has the power to make or break your business.

Seed funding or seed-stage funding is a very early investment which aims at helping a business grow and generating its own capital. Also referred to as seed money or seed capital, investors often get an equity stake in exchange for the capital invested.

The general rule of thumb for angel/seed stage rounds is that founders should sell between 10% and 20% of the equity in the company. These parameters weren’t plucked out of thin air, they’re based on what an early equity investor is looking for in terms of return.