For any startup to be successful use a limited company for your startup and the following key areas need to be focussed.
Developing your Customer base.
Few startups are established with customers in hand and few establish the company and then lookup for customers. Either way it is a challenge to acquire new customers and expand your business. Startups should come up with blue ocean strategy and make the competition irrelevant and build the customer base.
Building your Brand
Brand Building is the next most important thing as it gives a perception about your company. Who you are and what you do?. If you get your brand established well then, you will see lot of potential customers in your market space walking down your way. Building the brand helps to attract the best talent pool in the industry.
Building a Strong management team
For any startup it is more important to have a Strong management team who clearly understands the vision, mission and the core values of the company and propagate the same to their team members. You should get the people who act as enablers and take the company to next level.
Building a Smart Execution team
This is the most important dimension that a startup needs to focus on. Startups need to excel in Execution and should have smart people who can execute and deliver projects and win the confidence of the customer. This will enable you to do customer mining and increase the revenue from your existing customer base.