1. Solve the problem that you faced
The idea of a startup is not by solving contrived problems, but by those suggested by personal experience. This is the only way to do something sensible because only in this case you act as an expert and rely on yourself.
2. Unique design
at the stage of launching a startup, there is no need to chase a unique design, especially since both the functionality and the business model will change 10 times more. Do it right away on a ready-made template.
3. Keep your data and customers safe
Read article – How to Protect Company Data from Hackers and Employees to not lose money
4. Don’t start a project alone
990 out of 1000 successful startups were not launched alone. The project must be done with a co-founder and select reliable people who will form the backbone of the team. From personal experience, the team is the first thing that mentors and investors look at.
Therefore, when applying for investment for a project, prepare a team, formulate competitive advantages over others and find out if the market is ready to pay for your idea.
Another tip is to put yourself in the shoes of an investor. Soberly assess from the outside whether you would invest your savings in the project. There is no point in asking for help if you yourself are not ready to take the risk. To launch a startup, you have to put everything on the line.
5. Read negative reviews about competitors and suggest a Unique selling proposition
Feedback from competitors should be your mind food. The project must have a USP, otherwise, you will not win on the market. For example, the DuckDuckGo project was able to compete with the Google search engine, because it found a USP – the ability to search anonymously.
If the project does not have uniqueness, you should not enter the market.
6. Test the idea on users
There is no other way to test hypotheses other than asking end-users.
Communicate with clients before creating a product, a team for a project, and a business model. Just an idea and preliminary calculations. But you need to check the hypothesis at the start.
Source – WebSailors