Startups

Published in

whoknowseverythings

2 min readAug 10, 2020

Before starting any business there are few things you should keep in mind in order to occupy a good market shar and keep the business running & growing successfully
Here are 7 questions ! I

1) Technology — Engineering challenge

Can you create something new (from zero ) which is 10x better at performing then the nearest competition ?

If you have created something 10x better or completely new the odds of success are less

2) A Monopoly or not

Are you starting with a big share of a small market ?

If at starting you are in competition with big players — soon you will be wiped out :(
So avoid competition as much as possible in starting years when your company is small !

3) The people

Do you have a good team that will work together to accomplish the goal or they are just interested in money ?

Choosing the right people is important as they are base on which whole company relies on .

4) The Right Time

Is your product is fit in present or does it require some time for people to adopt it ?

You can overcome this by teaching people how is it going to benefit them

5) The Distribution System

Do you have a good system not just only to develop your product but also to deliver it to the people ?

This is where supply and demand gets in the way and it causes a bottle neck !

6) The Durability

Will your market position be defensible 10 -20 years in future ?

7) The Secret

Have you identified a unique opportunity that others do see ? What makes your business different from other ?

Getting 5–6 right might work well
If you don’t have good answers to these questions you might run into bad luck and your business will fail .
So that was it for this post !