4 Pillars To Build Your Next Startup
After being part of several startups, product designs, and product development there comes the time when you think you are fairly resourceful to share your experiences with the community and aspire young entrepreneurs to get their next startup off the ground in first attempt.
In business world different experts offer different approaches to tackle the same issues. Some of them say — lets go lean, some talk about checklists and some talk about sales plans etc! However the idea of basic needs or pillars of a business is often obscure by the wants.
If you are thinking to jump into a new business then this piece of writing will assist you to get your basics right.
Solve A Problem
Every frustration in daily life is a new business.
Everyday we come across with challenging situations or issues which ultimately frustrate us and indulge us in complaining. So instead of nagging about those issues young entrepreneurs should build their next business around the solution for those problems which are irritating them. There will be many people around the globe who are as frustrated as you are but waiting for the solution. End that waiting by standing up and kicking off your next startup.
Build A Team
Do you think you are jack of all trades?
We all can do many things by our own selves but when it comes to solving a problem there are many people around the world who knows better and can deliver exactly what you are looking in solution of yours. For instance you are an excellent software developer however you have no clue or limited idea of marketing or PR. Find such people from linkedin or other platforms and bring them together under your umbrella. They should be different then you and must be able to create a nexus around the solution of yours.
Oh yes ! Money talks.
Finances does matter in businesses however keep reminding yourself that your not starting your business to attract venture capitalists but solving a problem. Therefore try to finance your business with your own money, offering equity to team or someone who is passionate about your solution. Along with seed money you need to be very cautious about the monetizing your business. Monetize wisely and focus on growth.
Selling or bringing value?
Businesses love numbers and often forget that people who need your solution aren’t bait. Therefore your energies should be focused on bringing value for them and evolving your business by incorporating their feedback in your solution.