These are some points that I learned over the last couple of years, anybody who wants to startup should at least know these.

  • Its not really difficult (or easy) to start one.
  • Its surely not expensive to build a successful one.
  • Implementation/execution is the key, without which startup can not succeed
  • Before you start to work on an idea, just ask yourself — Why would anyone use this product? or even better would you use this product if you didn’t build it?
  • Another idea validation tip, check if your startup will help users save money or save time or entertain them. If you answered yes to either one, it’s good, if 2 yes then great & if all 3 yes then start right away! (source)
  • The idea doesn’t matter much
  • Its not what you build that matters but why you are building it matters the most.
  • Building a startup is probably one of the toughest ways to become rich.

I’ll be updating this list. Stay tuned!

Originally published by Sandeep Tripathy at Quora.