The startup model is one of the best known and most in-demand . Many of them manage to survive and even be sold, but it is also true that around 50% fail and disappear.
The success of a startup canada whatsapp number list relies, above all, on strategy and prior planning. Let's look at some tips for creating a startup from scratch and minimizing the main mistakes that can cause complex consequences for its continuity.
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What is a startup?
A startup is a young company that is just beginning to develop. They are scalable businesses with great growth potential .
These startups are typically small and initially funded and developed by one or a small group of founders.
Another great feature of startups is that they tend to be closely related to the technology sector , with new technologies and the Internet being the natural setting for growth and seeking business opportunities and even financing.
Below, we will see the steps to create a startup from scratch as well as some tips to minimize the appearance of the most common errors that can lead to its extinction.
How to create a startup?:
1. Define the business idea
Without a good idea, it is very difficult to launch a startup or any type of business. In fact, defining the business idea is the main step towards success, as well as one of the most difficult tasks to develop.
Turning an idea into a business concept requires thinking about issues such as the sales channel of the product or service and who will buy it, the benefits of the product or service, etc.
The entrepreneur will have to have answers to several questions , including the following:
What is the product or service?
How is it different from other products?
Who will buy the product or service?
Why are they going to buy the product or service?
Who are the competitors?
The entrepreneur must be able to accurately and clearly describe the essence of the business in order to have maximum confidence in continuing with the next steps in creating the startup and not die trying.
2. Conduct a market study
We have the idea, but it will not develop or grow on its own. Once the business model has been identified and defined, along with its characteristics and qualities, there is no other option than to carry out a market study.
One of the main keys to a good business plan is the relevant market study. A market analysis is a quantitative and qualitative evaluation of the market, where the size of the market is analyzed both in volume and value, the different customer segments and purchasing patterns , the competition and other influential actors in it.
At the end of an in-depth market study, we will know what we have and what we are up against, recognizing our values, strengths and having a clear objective.
3. Define the value proposition
Another of the great concepts that arise in the process of creating a startup is the so-called value proposition .
What is a value proposition? In simple terms, we can say that it is a key differentiating element that will make you better than your competitors in the same sector.
From the consumer or client's point of view, it is what makes them decide to choose one product or service over another.