Now a days many startup are coming up with great ideas but few of them become unicorn startup or most of them failed due to their mistakes So today we will discuss 7 thing which should be check before starting our startup.
Following 7 things should be check
- Know Yourself
- Identify your Expertise
- Identify your Customer
- What problem you want to solve
- Decide your product or services
- Build a team
- Take action
Know Yourself
Before starting any startup you should be know following thing about yourself
- Doer or Dreamer – Who are you doer or dreamer it means you are good in planning (Dreamer) or Execution (Doer). Both are equal for startup. if you good planner than identify your executor (we can say CEO) but if you good in execution than build good planning team.
- Loner or Team Player – It mean you are self centric person or team person if you are self centric than you are good in hold all work with yourself and if you are team person than you know how to hold a team.
- Your Purpose – You should be know your purpose, your goal.
- Your Skills, Capabilities & Weakness – You should be known about your skills, Capacities which will helpful in building your startup or what is your weakness which will be hurdle in near future so we can focus on them.
Identify your Expertise
Narrow down your exact Expertise – You should be narrow down your expertise (We can say USP) so customer will easily identify you. For Ex.
- Nike – Bring inspiration and innovation to every athlete in the world. If you have a body, you are an athlete.
- Domino’s Pizza – You get fresh, hot pizza delivered to your door in 30 minutes or less—or it’s free.
- Canva – Empowering the world to design.
Identify Your Customer
- Research your target customer
- Identify His/her pains & problems
- Create a customer persona
- Customize your offering
What problem you want to Solve
This is very important point. we can say it is your Foundation.
So you should be Clear on what problem you will solve.
Decide Your Product or Services
You should be decide your product or services which you will be serve to customer. you should be follow this things on your product or services.
- Create an MVP – Minimum Viable product
- Test It
- Take Feedback from users
- Do integrations
Golden Statement – “Aim for Excellence not for perfection”
Build a team
Teams are backbone for any business, startup.
Organizations are much more likely to perform well when their people work effectively as a team. This is because good teamwork creates synergy – where the combined effect of the team is greater than the sum of individual efforts.
So you should be perform three thing when you build a team
- Identify nature – When you interview someone, then first thing you should do is identify his/her nature.
- Train – Trian team according to their skills, Capabilities.
- Empower – Motivate your team, empower them for your organization goal.
Take action
All things are in vain if you don’t take action.
“A wrong business idea will still give you 100 time more money than the right business idea which you never started”
The more you do something, the easier it is to keep doing it, whether good or bad. You can’t succeed if you don’t do anything. By maintaining the action, you are setting yourself up for a greater chance of hitting your goals without being too detailed and overplaying the plan.
So Take Action.
Thanks for your valuable time & I hope this article will help you.
Disclaimer – This article whole credit goes to Dr. Vikas Rajput Sir & Bada Business Community. Main content has taken from Bada Business Masterclass.
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Name: CA PRADEEP JAIN
Passionate Learner