Start Up kit
My startup kit will introduce you to basics related to every startup process. My personal tips:
In order to succeed, you need to create values that people will follow and support. This is how brands and companies succeed. This is also how projects gain attention. “Apple” did not become successful because they made great computers; they became successful because their marketing campaign wasn’t about computers, it was about people and their creativity. “Nike” did not become successful by advertising shoes; they became successful by advertising great athletes and building values that were telling everyone “work hard and your dreams will come true because people are amazing”. You should think about the most important value that you are offering to your customers, not just your product, and you should promote that value, not your technology
Before you approach any investors or backers, you need to gain some traction and generate some feedback. People usually support projects that need their help to grow, not projects that need their help to start (unless they personally know you for a long time). You should focus on your execution, quality of your software or prototype and general technology, your team etc. because this will be your leverage, not your idea, ideas are considered worthless today.
The quality of your platform is very important and you should focus on friendly and hassle free features & UX. People are judgmental, so most of them will judge the quality of your services through the quality of your platform, plus, it is 21st century, robotics and virtual reality are taking over industries, your platform should be remarkable. A lot of teams on the market focus too much on formality when it comes to their design and users do not find their product enjoyable.
When pitching to investors or backers, your presentation needs to be short, clear and supported by facts, research and results, not your opinion or ambitions. There are many great companies and projects on the market, so no one is willing to risk with emerging startups; everyone is looking for investment opportunities that are safe, improving our wellbeing or generating significant revenues quickly. Your execution will be crucial for your project and your funding process so focus on your operations and strategy before you approach any investors.
You should also conduct interviews with potential users and customers, talk about their problems, ask them for their feedback or desired products etc. You can easily create your questionnaire with Google Forms and share it with others. This might not look important, but this data is your leverage when it comes to fundraising. It also shows that you care about your customers.
When it comes to your platform, you should also focus on different features, but start with basics. A lot of features tend to confuse people and it is negatively affecting active engagement of your users. One of my friends taught me a great lesson related to creating a great business. This might not be related to your idea, but you will get the point.
One day he decided to start selling fruits and vegetables, so he prepared his business plan, found a supplier and started selling products on the local market. When I went to see him, I saw that he was selling only a few types of fruit and vegetables. I was wondering why, but I went to see him again in a week and I saw that he added oranges and tomatoes, but removed potatoes. From that day on, every week he was adding something new and making some changes. All this confused me a lot, so I asked him what was going on? He told me:
„Look at all these sellers around me. They are all the same, selling everything at the same time, it confuses people and it’s boring. Look at me, I am making changes every week, so people are actively coming back to see what is new. I am adding something new so my customers will be interested to come back every week and I am removing products that are not selling well, so my new customers can focus only on things that are great.“ He was doing so well... he opened his own shop after two years. GOOD LUCK
In order to succeed, you need to create values that people will follow and support. This is how brands and companies succeed. This is also how projects gain attention. “Apple” did not become successful because they made great computers; they became successful because their marketing campaign wasn’t about computers, it was about people and their creativity. “Nike” did not become successful by advertising shoes; they became successful by advertising great athletes and building values that were telling everyone “work hard and your dreams will come true because people are amazing”. You should think about the most important value that you are offering to your customers, not just your product, and you should promote that value, not your technology
Before you approach any investors or backers, you need to gain some traction and generate some feedback. People usually support projects that need their help to grow, not projects that need their help to start (unless they personally know you for a long time). You should focus on your execution, quality of your software or prototype and general technology, your team etc. because this will be your leverage, not your idea, ideas are considered worthless today.
The quality of your platform is very important and you should focus on friendly and hassle free features & UX. People are judgmental, so most of them will judge the quality of your services through the quality of your platform, plus, it is 21st century, robotics and virtual reality are taking over industries, your platform should be remarkable. A lot of teams on the market focus too much on formality when it comes to their design and users do not find their product enjoyable.
When pitching to investors or backers, your presentation needs to be short, clear and supported by facts, research and results, not your opinion or ambitions. There are many great companies and projects on the market, so no one is willing to risk with emerging startups; everyone is looking for investment opportunities that are safe, improving our wellbeing or generating significant revenues quickly. Your execution will be crucial for your project and your funding process so focus on your operations and strategy before you approach any investors.
You should also conduct interviews with potential users and customers, talk about their problems, ask them for their feedback or desired products etc. You can easily create your questionnaire with Google Forms and share it with others. This might not look important, but this data is your leverage when it comes to fundraising. It also shows that you care about your customers.
When it comes to your platform, you should also focus on different features, but start with basics. A lot of features tend to confuse people and it is negatively affecting active engagement of your users. One of my friends taught me a great lesson related to creating a great business. This might not be related to your idea, but you will get the point.
One day he decided to start selling fruits and vegetables, so he prepared his business plan, found a supplier and started selling products on the local market. When I went to see him, I saw that he was selling only a few types of fruit and vegetables. I was wondering why, but I went to see him again in a week and I saw that he added oranges and tomatoes, but removed potatoes. From that day on, every week he was adding something new and making some changes. All this confused me a lot, so I asked him what was going on? He told me:
„Look at all these sellers around me. They are all the same, selling everything at the same time, it confuses people and it’s boring. Look at me, I am making changes every week, so people are actively coming back to see what is new. I am adding something new so my customers will be interested to come back every week and I am removing products that are not selling well, so my new customers can focus only on things that are great.“ He was doing so well... he opened his own shop after two years. GOOD LUCK
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