The life cycle of IT startups: why are products better than children?

First of all: finding a solution

Mature and responsible people do not suddenly have children. First of all, the right person and his or her partner must agree on how to ensure a normal life for the child together. The couple weigh up the pros and cons and decide whether to have a child and, if so, why.

Similarly, when starting a business, one must have these ideas before starting work. You see an unmet need in yourself or someone else and conclude that your product will help solve a real problem, then there will be a question. Even if you are cynical, you must recognise that people create copies for selfish reasons, mainly for themselves. Unless, of course, it is a planned thing and not the result of a chance meeting at a student party. Both children and entrepreneurship are necessary to realise your full potential and to secure a comfortable retirement, so they must be based on a sound and competitive idea.

Second: Seeking Initial Funding

This step is closely related to the previous one. "For mums and dads, this means making initial savings for the period of maternity leave and then, if you are thinking of a business, finding potential investors. It may also be necessary to invest your own money until the business becomes profitable. In any case, a start-up usually relies less on its own money and if you are lucky, you will only have your parents to help you.

Third: start with an MVP

This is the first concrete step in the life cycle of a business. You need to test your idea by creating an MVP (minimum viable product). An MVP is a simplified version of your product that will meet the needs of your first customers and provide them with valuable experience in the final stages of development. The MVP will help you understand how best to optimise your budget to reduce risks and start-up costs. If you want to test your skills before actually becoming parents, you can also have a robot child, as in the acclaimed Detroit: Become Human. However, this option is not yet available for modern humans, so even then the child loses the entrepreneurial project.

Fourth: setting the budget

Unlike the second phase, in which you make sure your project receives public attention and investment, in the fourth phase you have to secure the funds yourself to build and launch a fully functioning product. You have to prove to potential investors that your idea is ready for full implementation. You must use the statistics gathered during the MVP to strengthen your arguments. Imagine that your child is old enough to finish high school and needs a good university education to be happy as an adult, so the MVP score is like a grade in an independent external test or a high school exam

Fifth: make it competitive

During education, your child must acquire the skills and knowledge that will make him or her competitive in the labour market and appreciated by employers. It is a thousand times easier to work with a company than with your child. You must perfect your product and retain your customers. If customers keep coming back to your product and recommending it to family and friends, you are on the right track.

Sixth: expansion

Once your child has successfully graduated from a prestigious university and obtained a degree, you need to find him or her a job. This is the time for parents to educate their child to become an adult, to be content with everything, not to harm himself or others and to have good prospects. He must become truly independent, mature and free, and there should be no reason to worry. Needless to say, this task takes a long time. Yes, it is also difficult to ensure that the child lives to at least the age of majority, not to mention that by then he is not stupid enough to be responsible and goal-oriented.

Conclusion

After phase 6, the business project can objectively be considered a success and has achieved its basic objectives: it has become popular, sought-after and profitable. If you wish, you can sell cycle of IT start-ups a comfortable retirement while continuing to do what you have dreamed of doing since childhood. Or you can stop working altogether.