In today’s technological and advanced environment, where everybody is trying to be more and more technical and coming up with emerging innovative ideas, we can find many entrepreneurial examples around. Everybody wishes to have its own business setup so he may not have to follow the rules and regulations of a typical job system. In every country, we see many incubators taking place to support the entrepreneurs and emerging startups.
“Coming up with an emerging idea and taking it to the big level is not an easy thing. Starting a startup is not a very simple thing, many people think that if they have a good idea, they might start implementing it and it will go in the market and create a huge buzz. But this is not this simple.”
Many people who are very enthusiastic and arrogant, they think that they can do their startup on their own. Most of them are inspired by the entrepreneurs who told them to “just do it”, so they just start putting their capital and everything in developing their first MVP. We can take explain this further with a story of a person, who did the same. He was inspired by many entrepreneurs who told him to just do it, things will sort down automatically, just put your 100%. He started building his MVP, putted them in front of the customers, and did everything to take his startup to the next level. But because of short time, lack of planning, startup failed. So always keep this thing in mind, always try to find investment from other sources, and don’t just start doing things.
In order to make sure that your idea will create a good hustle in the market, always know your audience. You must keep this thing in mind that you cannot target 100% of the audience, always choose a fraction of the audience, explore their priorities and customize your project accordingly. This way, you will be able to hit that fraction and make your startup beneficial for you and for your country. So, working on idea is not a big deal, do not waste your time on just implementation of your idea, but try to refine it first accordingly to meet the conditions.
One of the most difficult parts of setting up a startup, is pitching your idea and force the investors invest on you. The key point of this part is having a good sound grip on your idea. Don’t complicate your idea, make it simple and explain it briefly to your investors. If you will try to find complexities in your idea, you may find a lot of loopholes, which may lead you uncertain about the innovative idea you have in your mind. The investors will only invest on you if they found you confident and certain about your idea. If they get even a little fraction of uncertainty, they will surely never spend a single penny on you. So the first thing to keep in mind, is to keep your idea as simple as you can so that you could explain and develop the MVP as quick as possible.
Most of the people around are always afraid of failure. But this is a pretty much obvious thing, that when you start something new, you always find many difficulties and fail. What happens when you first started walking? You always fail. But this doesn’t mean you cannot change your failures in to success. When starting out, we see whatever we do, is always a failure. We think that we might have found our desired chunk of audience, but when we deploy our MVP, we came to know that No, the audience isn’t interested. But this never mean that you give up, but you must have the courage to shift your failures into experiments. You shouldn’t say yourself “I’m a failure”, you should say “I’m an experimenter”. When you get experienced, you don’t make those mistakes again and you start getting success. So never let your motives down because of any kind of failure.
Last thing you should focus on is the relationships. Always keep good relationships with the people who are working with you on the idea as well as the customers. Keep the doors of suggestions and emerging ideas to polish the startup. Keep in touch with the people working with you and keep on asking them if they have any suggestion that could make our project look better. Also, there must also be good relationship between the customers and you, keep on getting feedback on your product from your customers. Because what a user is feeling about your project is the most important thing, you must take feedback and make the user experience as good as possible.