STEPS FOR BUSINESS STARTUP
- Do you know 93% of business startups fail?
- Do you want to be in that 93%?
- Of course no.
- Just read this if you want to be among the 7% of people.
- What is a Startup?
- New Business + Innovation + Technology + Passion = Startup
Steps to create a successful startup
If you want a successful startup you need to ask the following questions to yourself.
- What is the idea?
- Is it Unique?
- What is your purpose to start a business?
- Is it for my passion, money, or any other reason?
- How much risk will I be able to take?
- Will it be full-time or part-time?
2.Go from zero to one
If you want to be successful, discover something new that goes from zero to one (vertical progress).
3.Become a Monopoly and avoid competition
The more the competition, the lesser you will make the profits. Create a monopoly with your products and services where there will be fewer competitors.
4.Develop high demand products
Find out what people need by conducting different surveys. Talk with them, ask them for their problems and think likewise. It's true that you should be innovative but your innovative idea should also be problem-solving.
5.Start with a niche market and then dominate
Start solving the big problems of people which is often neglected by other businessmen. Give your best service locally and then slowly expand and dominate other niches.
- To keep up the practicality you need to get more profits and work constantly.
- Build your business insurance policy and business support plan.
- Customer satisfaction should be your first priority.
- Take regular feedback from customers and the required changes need to be done from time to time.