There is no secret formula to starting a company that guarantees success; founders take many different paths to to achieve their goals. We recently caught up with Jeremy Ostermiller, the founder of Altitude Digital, an advertising technology company founded with just $500 during an economic downturn. That was the balance of Jeremy’s savings account at the time. The choices, as he saw it, were start a company or move back home with his parents. Jeremy leveraged what he had learned from his previous work experience and applied it to a building his business.
Most of time you hear about entrepreneurs following a process: research the market, create a business plan, obtain financing, etc. Jeremy, on the other hand, started Altitude Digital the best he knew how; he did not create a business plan, get advice from a mentor, etc. He knew advertising and saw the value in the future of online advertising. Jeremy knew the market problem and built a product to combat industry challenges.
Although Jeremy didn’t follow the typical path, he says if he were to do it again he would:
- Create a clear business plan from the beginning
- Network and have strong business mentors for guidance
- Get legal counsel from day one
- Create a clean and powerful website and web presence
Although it would have been easier for Jeremy if he had followed the above steps, there is more than one way to start a business. What steps have you followed to start a business?