First, the founder should focus on finding the right people, especially for key roles. Ultimately, it’s not a perfect strategy or targeting a good audience but the team that will determine whether our startup succeeds or fails.
@e_slyusarchuk The team always determines success, the main thing is to reach the stage with the team, most often all startups die at the stage of one employee.
I'll start.
In fact, it all starts not with the idea of a startup, and even no matter how you will implement it. Start with the size of the market. I have encountered several times that a startup was launched in a very small market, and when they wanted to scale it up, it became clear that the product was completely tailored for a small local market.
So if you have a rough idea of what you want to do, first choose a market that suits you and then start talking to potential users to understand what problems they have.
And only after all this can you finalize the idea of your product.
@ash_grover Premium products are a completely different story. If we are talking about a high check and a small market, there is a high risk of going broke, because the market can dictate the rules of how to work, because you have no alternative clients.
First things first: Obsess over the problem, not your solution! Dive deep into your target market's pain points. Talk to potential users until your ears fall off. Build a janky MVP and test like crazy. Remember, a founder's superpower is turning confusion into clarity.
Entrepreneurship is not just a trend; it’s a tough but rewarding journey. The key is to make sure your product meets the market’s needs, build a strong team, and create a positive company culture. Focus on what really matters – your product and your people – to set your business up for success. Enjoy the journey, as it can be just as fulfilling as reaching your goals.
I believe one of the most important things is understanding the core problem we are solving. It's crucial to connect with the target audience very early to ensure the product or service meets their needs, and to assure that the way we are trying to solve it is really a good way from the target point of view. The solution must come from interacting and really understand the people, from fieldwork, and not from books or theories.
Building relationships and networking with other entrepreneurs, mentors, or advisors is also key to gaining insights, support and motivation!
If you've got an idea that you want to implement, then I believe first thing should be validation:
1) Do you have a unique value proposition that sets you apart from competitors?
2) Can you ship an MVP with your UVP in under than 3 months?
3) Do you have a clear strategy to acquire new customers without running out of money?
If you're green on all questions - then I'd create a landing page with an email waitlist, and reach out to your target audience to gauge interest and acquire early users while building.
FirstHR
FirstHR
FirstHR
FirstHR
FirstHR
FirstHR
FirstHR
FirstHR