How do you build a successful business? Is there a business model you should follow?
Should you focus on marketing, social media or content marketing?
Or maybe you just need a mind-blowing technology that would leave the competition dragging behind? Do we gradually improve an application, or do we come with a brand-new technology that will hit the market like nothing before?
We read about successful businesses and we die to know more about people who simply changed the world via their entrepreneurial spirit. But somehow, as we read about them, we always seem to lack something, a piece of information that we never receive.
And so, their stories do not seem to apply to our own and we are left wondering why.
Is there something missing from the picture? Or maybe, we simply cannot have access to the context and the events leading a business to become successful while others are losing focus.
Is your startup company ready for the market?
1. How good is your technology?
Does your company bring a new technology superior to the present one in the market? Or is your product or service just a little bit better than the competition?
In case of the latter, will it be difficult for you to keep your strategical advantage over a longer period of time?
In addition to the questions above, you also need to find the element of novelty in your startup and how exactly is your technology changing lives for the better.
Once you have the right answers, you will know how to prepare your marketing and sales strategies.
2. Is your startup connected to the present?
A business can become successful also by taking into account the right moment of its launch.
Is the market ready for your product? Are you too early or too late? What are your potential customers thinking?
In order to find some answers to these questions, maybe it would be useful to do a market research before you actually build the product.
Is it an accident that social networks and app-based businesses flourish these days?
If we are to look better at the ecosystem they emerged into, we can surely find strong connections with the spread of Internet infrastructure and the mobile devices adoption speed.
3. Who is your target audience?
What problem is your business solving right now? And who are you building your product for?
Are you addressing the entire market or just a niche section?
You may consider that your products could be used by a high number of individuals, but do you speak their language? Do you understand what they need and where they look to purchase?
Are you conducting a B2C or a B2B business?
These are just some of the questions you need to approach before starting your startup company. What we can tell you is that it is easier to dominate a small niche market than trying to take over the whole cake.
4. Do you have the right people?
You have a great product built upon an impressive technology, you have a vision for your business and for your brand, and you even managed to get all the investors’ money so there’s absolutely no reason for you to worry anytime soon.
What about the human element? Did you take that into account?
Have you brought the right people into your team? Do they have the necessary experience to push your newborn company into the market? Do they have the drive, the ambition, the grit? Are they willing to learn and adapt?
Remember that working for many years in a secure corporate workplace is not the same as working in a startup company.
A startup business will inevitably throw at you unexpected challenges that you’ll have to settle, from marketing and sales to product development and customer care.
Do you have what it takes to build a strong company?
We tried to put together a number of essential questions every company needs to answer before taking the jump into a sea of unknown perils and unexpected setbacks.
Should your startup company be able to find answers to all these challenges before going live?
It’s not easy to reply to that, but we do emphasize the importance of having a great technology and the right people in your team.
Are you looking to become the next unicorn in the digital space?
If you look for financial support, technical and marketing expertise, plus great mentoring and networking options, our team of professionals is ready to incubate your business. Contact us and let’s talk business.