Every Startup, no matter how big, whether you talk about Jeff Bezos’s Amazon or Bill Gates Microsoft, started with an idea.
If we were to put it in fewer words startups are nothing but ideas put too fine execution, however, that does not mean that you can build a startup out of every idea.
So how do you decide? And how do you move forward from there? Does your idea need to be impeccable before you even start working on it?
Fret not, today we are going to answer every query that one might have when it comes to picking a startup idea.
So let’s begin.
Initial ideas are like first drafts:
if you have ever been into writing you would know that drafts are just like a vague hypothesis is of what the final story would look like, one works on several such drafts before the final product
Similarly, for startups, your initial idea might not be perfect, but you still need to start working on it. This is for two reasons
- One, that with every step the idea will evolve, you will get to know what are the shortcomings and thereby rectify them
- Two, you will get an idea if your idea’s target is even achievable or not.
Start at the problem
one of the major problems with most people is that they come up with a solution without even acknowledging the problem they are trying to target.
This can be counterproductive in many ways. How are you going to know what target audience it serves or if the product is useful at all?
Secondly looking at a problem that your product can solve allows having a personnel connection to the startup, which is very useful in the longer run.
Brainstorm your way up
one of the best ways to test the feasibility of your idea is to talk about it. You can talk about it with anyone, a friend who has a hang of the field, a colleague even family. Brainstorming allows more visualisation of the actual product, plus the more number of brains you involve the more help you get about your idea
What makes you fit for the job?
Once you have sorted the first three-pointers out, this one is a question to ask yourself.
What is it that you can give this product that others can’t? And the way to answer this is not in a classical “resume” sense but with a creative bend of mind.
Your MVP is your first ladder.
MVP stands for a minimal viable product.
A minimum viable product is a version of a product with just enough features to satisfy early customers and provide feedback for future product development.
So you decide what your MVP would be.
However, here is the catch: never get too attached to your MVP.
This is essential for you to be open to t to to to tottoprovement.
Continuing on the last point, one of the best ways to not fall in too much love with your MVP is to launch it as soon a possible.
This also gives you a vague idea of what market you are stepping in, what challenges you can face and thus makes it easier for you to build on it further.
Keep an eye on the initial statistics.
Your initial customers can be your Saviour provided they give you honest feedback.
So your initial customers should always be people whole you trust and most importantly people who will not sugarcoat things for you.
Another thing that you need to keep in mind is a lot of consumers are not very comfortable with trying out startup products, you need to focus on this while building on your initial idea itself
Do not solve a problem.for someone who isn’t willing to try out a startup in the first place.
Once you have gone through this entire cycle once here is a very important thing that you need to focus on. Do not pester yourself with the number of people that your product engaged with but instead note if, for any of the people, that did use your product. Did it solve the initial problem?
Always keep in mind, The best of startups reach their highest by filtering their products according to the needs of their consumers.
To end with, here is an important thing to remember, it is veryuch possible that you feel stuck or hindered in any of these steps in such a case, it is always good to ask for help from experts.
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