Starting a company or Product

You need to test the product viability before launch, test, validate and determine the core features. You have to focus on using the feedback as a basis to build the next version of the product. Each step has to be logically derived on the basis of calculations. No step should be based on intuition and gut feeling. Everything should be derived from calculations and logically driven.

It is not enough to just be another face in the crowd. If a startup wishes to succeed, it must aspire to lead its market category eventually. It can do this in one of two ways: challenging an existing category by offering a better way to do something or defining a new category or sub-category that didn’t exist before.

Startup entrepreneurship refuses to believe“there is nothing new under the sun” They believe that there is always a better solution, new needs to be met, and constant changes that require constant innovation.

The entrepreneur needs to have a hypothesis of where the market is going, foresee the new market needs, and aim to build a solution for these future needs.

Michael Jordon rightly highlights the importance of the right people working as a team,” Talent wins games, but teamwork and intelligence win championships”.

You need to make sure you have the best people from diverse fields and together as a team you can maneuver any challenges and pitfalls. Do not emphasize on a one-man team. A balanced team builds empires and helps you thrive in each situation.

The rules can pertain to what is physically possible or what is considered “good practice.” One implicit rule of commerce is that nothing should be given away.

Startups have repeatedly turned that rule on its head, declaring that something previously for sale is now free and creating a new business model that didn’t exist before.

This advice is usually given to fiction writers. In the world of high-tech startups, it’s not enough to tell people what you can do – that won’t convince them. However, if you provide living proof of what your product can do and that your technology works, people believe you, there’s a good chance they will become your clients or investors.

You need to enhance your leadership skills and focus on personal development. Keep building your acumen and never stop learning. "A great leader can steer the radar smoothly in all stormy times"

You have to keep your technology and software updated and be flexible too. You need to communicate, motivate, delegate and channelize the energies of the team to be successful.

Startups are based on novel ideas, which if synched with market demands, can work wonders. Starting a company or building a product is an easy part, sustaining operations or making them grow is the biggest challenge. Retain your calm, invest wisely in your team and go step by step. 

It’s self-confidence, unique ideas and passi that will truly make any startup unstoppable.