Starting your own business is exciting but can feel a bit overwhelming. In this post, we'll guide you through the key steps you need to take to launch and grow your business using our platform. From shaping your big idea to building your team and getting your product into the world, we're here to support you.

Hey there, founder! Starting your own business is exciting but can feel a bit overwhelming, right? At Foundance, we understand. That’s why we’re here to help you every step of the way. In this post, we’ll guide you through the key steps you need to take to launch and grow your business using our platform. From shaping your big idea to building your team and getting your product into the world, we’re here to support you. Let’s dive in and turn your business dreams into reality together!

Imagine you’re searching for a co-founder and browsing through profiles. What would catch your eye? What would make you want to learn more about someone? The same goes for everyone else in our community. That’s why it’s crucial to put effort into completing your profile. In the virtual world, your profile is your introduction to potential co-founders, investors, freelancers, and advisors. They want to see an avatar that reflects your personality or interests and learn about your hobbies, likes, dislikes, and your journey so far.

At Foundance, we’re all about building an active, reliable, and trustworthy community. That’s why we only display profiles that are at least 40% complete, showing that you are committed.

The first step on your entrepreneurial journey on Foundance is to create a project. This is where you’ll introduce your idea to the community. By sharing your vision, you can start building interest and getting valuable feedback from the community. Your project page is the perfect place to outline your goals, explain what makes your idea unique, and showcase any progress you’ve already made. It’s all about getting your dream out there and starting to build the buzz that will help you move forward. You can read more on how to create projects on our official documentation.

While you may choose when it’s the right time to go through or review the sub-steps below, keep in mind they are essential for promoting your idea to the world.

A compelling visual identity helps your idea stand out and makes it easier for people to remember and connect with your project. While you can use our logo generator, we highly recommend you to providea unique logo that captures the essence of your vision. Choose colors and fonts that reflect the tone and personality of your brand. Consistency is key, so use these design elements across all your project materials and communications. By establishing a professional and attractive visual identity, you’ll build credibility and make a lasting impression on your audience. If you are not the person to create a visual identity and design a logo, look for a professional who might help you.

With your visual identity in place, the next step is to provide a detailed description of your project. This is where you tell your story and explain what your project is all about. Be clear and concise about your goals, the problem you’re solving, and why your solution is unique. Highlight the key features and benefits of your project, and share any progress you’ve made so far. Don’t forget to include your plans for the future and how you intend to achieve your objectives. A well-written description will help potential supporters and collaborators understand your vision and get excited about being a part of your journey.

These days, people often prefer consuming video content over written material because it’s more engaging and easier to understand. Videos are a powerful way to bring your project to life and captivate your audience. Start with a compelling introductory video that captures the essence of your project and showcases your passion. Use visuals, narration, and music to create an emotional connection with viewers. Additionally, consider creating videos that dive deeper into specific aspects of your project, such as your team, your product or service, and your future plans.

Your entrepreneurial journey can feel overwhelming, and it’s important not to do it all by yourself. As in every good story, having the right mates is the difference between success and failure. A great co-founder brings skills that complement yours, shares your vision, and helps tackle the challenges of building a business. They can offer support, new ideas, and extra hands, making the journey easier and more fun. We’ll talk more about how to find the perfect co-founder and what to look for in a future post, so stay tuned! Until then, check out the Foundance community for potential co-founders.

While building is sometimes the most fun part, having a good plan which you revise from time to time will increase your chances for success. A good business plan helps you set clear goals, outline your strategies, and keep track of your progress. It’s something you can refer back to and update as needed, especially when things change or new opportunities come up. By following and regularly updating your business plan, you’ll stay focused and be better prepared to tackle any challenges that come your way. Plus, it’s a great tool to show potential investors and partners that you have a clear vision and plan for success.

A solid business plan will address all aspects of your venture, such as:

1. The Team

2. The Problem

3. The Solution Description

4. The Customer Profile and Business Model

5. The Current Traction

6. The Financial Forecast

7. The Market

8. The Competitive Landscape and Competitive Advantage

9. The Go-to-Market Strategy

10. The Roadmap

While you can generate a first version of your Business Plan using our AI-Copilot, we highly recommend you create your own. If the business part of building a venture is not your strength, find a co-founder who is more versed or work with an advisor.

The your team and your project to the next level and sign a co-founder’s agreement. This document is key to setting clear expectations and responsibilities for each of you. It covers important details like roles, equity shares, decision-making processes, and what happens if one of you decides to leave the company. Having a co-founder’s agreement helps prevent misunderstandings and ensures that you’re both on the same page from the start. It’s all about protecting your partnership and making sure everything runs smoothly. So, don’t skip this step – it’s an essential part of building a strong foundation for your business.

At Foundance, we are dedicated to supporting ventures without borders. Having co-founders all around the world makes it difficult to sign and enact a traditional contract. Our mission lead us to implement smart, on-chain agreements. Besides allowing co-founders to build remote ventures, they have a couple of advantages. First off, a smart agreement is more secure and transparent since it’s stored on the blockchain, making it nearly impossible to alter without everyone’s consent. This transparency helps build trust between you and your co-founder. Plus, smart contracts automatically enforce the terms you set, so there’s no need for intermediaries, which can save you time and legal fees.

Furthermore, in order to adjust to your previous experience with agreements and to your business model, Foundance offers multiple agreement types you can choose from. Please read more on agreement types here.

Building a venture from scratch requires a lot of time and resources (e.g., computers, subscriptions, office space, etc), which in turn, translates into money. Either you want to bootstrap or you’re looking for investment to accelerate your growth, keep an eye open for opportunities.

Hackathons aren’t just for people wanting to play around and explore new avenues. These events offer founders a structured environment to focus on their venture, access to diverse talent and resources, opportunities to win prizes or funding, and valuable feedback and mentorship. Depending on the event type, a hackathon might prove a great opportunity for your team to start building a feature from scratch or continue working on an existing one.

On Foundance, we are hosting periodically hackathons. Make sure you check out our upcoming events – maybe you will find one that suits you!

Participating in an accelerator can help your team by providing structured mentorship, access to networks of investors and industry experts, intensive business training and workshops, potential funding opportunities, and validation of their business model through rigorous validation processes.

We are proud to call these our own creation. Venturethons are a special flavour of events, born from our collaboration with soonami, They are a mix between a hackathon and an accelerator, offering you the best from both worlds: a boxed time frame to build, access to builders, trainings and workshops, mentorship and the possibility of pitching in front of an investment committee. Interested? Check out future events and success stories from previous editions.

Don’t forget to keep an eye out for freelancers who are open to accepting project tokens or crypto as payment. They can bring a unique perspective and skills that align well with your venture. By offering tokens, you’re not just hiring talent – you’re also building a team that believes in the project’s success. Plus, it’s a great way to tap into a global talent pool while staying innovative and efficient. If you are considering exploring this option, read more about opening freelancer roles on Foundance or check out freelancers who are already on the platform.

We know this might seem overwhelming, but don’t forget: you are the hero of this story and we are here, as companions, to help and guide you along the way. Join our community of like-minded founders and collaborators and embark on your entrepreneurial journey with confidence.

Let’s build something amazing!