If you’re involved in the business world, you’ll understand how much time and effort it takes to have a running startup. Sadly, 90% of startups fail, and even those that do manage to make it through, it takes them 2-3 years to make a profit.
But that doesn’t mean your startup has to remain a distant dream. With these simple tips and tricks, you can ensure your company turns heads wherever you go!
Table of Contents
Identify the problem at hand
Any good startup idea starts with focusing on the problem at hand. For this, you’ll have to keep your eyes and ears open all the time to notice the trending issues. This way, you can identify a big problem that most people around you face.
Once you have a rough idea about how the problem affects people, you will automatically come up with a possible solution.
For example, the creators of Whatsapp understood that global calls and messages had skyrocketing prices. So they wanted to introduce an app that reduces this cost considerably and connects people worldwide.
Simply solving a problem isn’t enough. You need to figure out how your solution or product differs from your competitors.
Suppose you have come up with a brand that focuses on providing kids’ ready-to-make cereal at low prices, but there are others in your niche who have similar ideas or products.
If your idea isn’t clearly defined, people will take only one look at your products and tell themselves they’ve already seen something similar many weeks or months back.
They will ignore your product and perceive you as a dupe if you don’t give enough effort to stand out. So, make sure to come up with something that piques other people’s interests.
Print business cards
Once your startup has been launched, it’s time to make yourself look as professional as possible. And one great way of doing that is to print a stack of premium business cards and hand them out to successful businesses.
If you have a bunch of business cards ready at your disposal, your peers will notice your willingness to connect with others and your professionalism.
You can purchase conventional paper-based business cards on glossy paper or metal cards. Many of these metal cards are embedded with a QR code that will redirect the receiver to your company website.
Do your homework
Make a list of questions and topics, such as your possible competitors, their products, and their target audience.
If you don’t research these things beforehand, you might end up investing a ton of time and money on something that has already been in the market for ages.
In the end, your startup might fail to make its mark or resonate with anyone in your target client base if you don’t have a clear idea about the market. So, talk to industry experts, search for mentors, and look up online to get more information.
Think of future demand and supply
Back in the day, many sci-fi movies showed robots working alongside humans, even when that wasn’t the case in reality.
And now, that has been actualized in many domains around the world. This is because the makers of these movies predicted what the future might have in store.
Like them, you, too, need to think of the demand and supply your products will have a decade or two later.
If you want to make a successful startup, the idea is to plan ahead and visualize how the world will be in the next few years. Of course, nobody has actually seen the future, but good foresight is necessary to strengthen your startup.
Build a good prototype
If you’re offering a service, you need to first test it before rolling it out to customers. This is why building a strong prototype and learning from it is important.
Your first prototype might not be that functional and might even be a failure but don’t let that stop you.
If you have a service in mind, you can map customer contact points and the processes you need to ensure to meet customer needs.
A physical prototype needs to be clear, functional, and reliable. If you hit snags while building or testing it out, try again and measure the variables.
Over to you
The first step of having a strong startup is to have a clear idea. You might not be sure of it yet, but if you keep working hard and stay patient, you’ll notice positive results quickly!