As much as you are excited about your big idea, there comes a point where you need to get down to a cost-saving plan of execution. Here’s when you begin to ask yourself – was my idea big enough? Or did I choose an expensive idea? You know very well that one of the most crucial things as a startup is to become profitable. That’s easier said than done, yet not impossible.

Here are the five things you need for your profitability:

1. Get a customer-funded business model

As you solve a problem or address a pain point, you need to make every effort possible to keep bootstrapping your business. For instance, if you wish to develop a taxi aggregator application, you must create a business model that compels your customers to pay you the money upfront. This would help you get the funds for a sticky mobile application development.

2. Hire those who love your idea

Boy this is vital. Some startup founders ask potential employees to sell the former’s startup idea during the interview or give them an assignment to make a business plan on their own idea. Hire people who can sell your own idea to you. This is the kind of people who would totally justify your investment on them and bring you output.

3. Don’t order, cook. Don’t hail, walk and other things

As a startup founder, you must know by now that every penny saved is five gained. Develop a culture of cooking among flat-mates or walking to nearest places. Get your high-school bicycle out and ride to work. Avoid paying for services you don’t need. This money saved can be used in customer acquisition, mobile application or any other business development activity.

4. Count expenses and revenue

You have got to become at least one version of Uncle Scrooge when it comes to calculations. As you follow tip No 3, you also need to keep a track of your savings, expenses and revenues. A simple weekly reviews of these will give you the kind of profitability tips nothing else can.

5. Devour small markets first

We all want to hit it big and make it global the first time. We hate to break it to you but no one got there at the first shot. Think of selling it to friends, family and your own city. If you can sell your idea to your mobile app design partner or your mobile app to a neighbor, you will know exactly what to expect nationally and globally. Small markets will give you the benefits of Tip No 1 – the cash to expand further.
As they say, one step at a time. It’s vital to mark you steps and make them count.