Thousands of brands fight for our attention every day, so how could you set your project on the top? Distressed by a pity fact that 11 of 12 startups fail, newborn businessmen give up even not trying to deal with it. Believe it or not, you need not be a genius to get a successful start as simple ideas are the most effective usually. So, what are the best ways of thinking when you just begin?
Admit that survivability of any business expands from 0, 1 up to 20 %. This fact shouldn’t terminate your inspiration and efforts, but learn carefully what statistics says. Optimistic stories are truthful far from always. The publicity propaganda hides the examples of beginners’ disappointments while an unending number of bad shots.
Attributes of success
The quality of idea based on both confident knowledge and experience is what you need before everything else. You will also do nothing without relevance of the idea here and now. Think over partners and a team if you’re not going to make one man show. Not only professionalism makes sense here but, certainly, “crew” integration and smart management. Try to be a realist taking into account a political and economic situation in your country and the prospect of possible competitors’ existence. How much could you invest in a future project? The issue is not only about the money. Wonder the risks and the chances to win between the opportunities and an accident.
Increase the possibility of a good fortune
You shouldn’t lose the motivation when something goes wrong. Moreover, don’t be afraid of organizing a new project after fail. Step by step collect all gathered knowledge and social contacts as much as possible. Efficient keeping in touch with people will do you a favour as any business is client-oriented. Take a practical view of the situation and your position, see market and money behind the ideas and technologies.
Some bad news for startuppers
Now let’s try to understand which problems you are going to face starting your business from the ground up. We have some bad news for you to equip yourself with. Only business sharks stay alive. Experienced companies have things you don’t have, namely patents, contacts, maybe some discounts. The worst thing is that your future clients march under the standard of already promoted products that is brands. Taking into account all risks, remember that every project requires high investments. If you’ve already chosen a target idea for a startup, this will be difficult to change. Add the fact that even if the best happened, the turnovers wouldn’t be high at once. But the focus is all that barriers, preventing your entrance to the market at the very beginning, will be your security in future.
Find your core competence
Get your core competence, this means what you’ll do not just as your main activity but better than others, let’s say perfect. Find your core competence or original idea, invest time and money in it. When you need some subsidiary products or services, get them from the company with the core competence for those things.
To get a prosperous business use three basic strategies. The first one is cost leadership (try to get the minimal prime cost for the product). The thing will protect you from the competitors as it gives you an opportunity to set lower prices but still to get benefits. This will not only build barriers for newcomers but make your product stronger than the competitors’ substitute goods.
The uniqueness of an idea protects startuppers from the competitors by means of customers’ loyalty, as they are ready to pay more money for your product. All in all, try to choose the market segment for you to become the least unprotected from substitute products and competitors.
To draw a conclusion, a good idea based on all the described factors will lead you to success. Find the thing you are really good at and remember that a targeted audience is what you should be concentrated on. Give people what they need here and now, develop the recognizability of your content, make people speak about you, use social media and do your best whatever you are going to do.