Start-ups seems to be popping up all around the globe. It’s an amazing revolution that not only encourages entrepreneurship and ideas, but also allows people to solve the problems of people.
Almost anyone can get in on a start-up and doing it well can be a piece of the success puzzle but there are some things to think about before thinking of starting your startup.
Here are 4 start-ups you shouldn’t try, it isn’t conclusive but it should give you a good framework before starting your out on your own.
1. One without a solid team foundation
A great startup is built not just by hard work, ideas and money. It’s built on a foundation of strong relationships.
People think that by hiring an expert coder or a web designer to carry out a great idea will ensure the establishment of a great start-up. While that can work, for the most part, problems will arise.
Great companies such as Facebook and Google don’t just have people with great skills, they all have people who have great relationships with one another. It is also a reason why work culture is always emphasized.
A start up without a solid team foundation will run into numerous problems. Without the necessary trust among the team members, it’s hard to get anything working.
After all, if you do not trust your team with your big idea, it’s impossible for them to carry it out. Trust is definitely something that is built over time and it can only be built through strong relationships.
When you are working on a startup, it’s like inviting someone into your house. I’m pretty sure you won’t invite a complete stranger into your house.
So first establish trust, then start your startup.
2. One that has not been validated by the market.
The purpose of starting a startup is to provide a solution to a current problem. While most of the time we do have great ideas and solutions to a particular problem, without market validation, the start-up is highly likely to fail. If the problem you are solving is a problem encountered not just by yourself but by most other people, you will have greater success.
After having a rough idea on the service or product your start-up will provide, head out to society and start asking questions.
Have a list of questions that are relevant to the service or product you are planning to offer in the future and ask for opinions. Don’t be afraid to ask for feedback or criticism because every single opinion you get can be a valuable tool in refining your what your start-up has to offer.
3. One without a mission
Any company without a mission is bound to fail. However, start-ups seem to be the “cool” thing to do right now and since there are so many books that can guide you in starting one, everyone believes they should start one.
While everyone can definitely start a start-up, not everyone can make it last. Besides the obvious fact that revenue is important, the mission of a start-up should always be the main focus.
It doesn’t matter if your start-up is for a cause, for a profit or simply for entertainment, having a mission will ensure that every team member works toward a similar goal.
Remember that beginning a start-up is not an easy task, and you are bound to face problems and roadblocks along they way. However, when everything looks like it’s going awry, the mission of your start-up is what will keep you on track.
4. One that is more or less a copy of an already popular venture
What makes a start-up successful is a unique value proposition. A great start-up provides the people with a certain product or service that they never had.
That was what made Facebook and AirBnb so popular. If it’s something people have never seen or experienced, a unique value proposition is the ultimate selling point.
They say copying is the greatest form of flattery, and honestly it is. Unless you have something you are certain you can do better than an existing start-up, imitating their service or product is not a good idea. Especially if they have already existed in the market for awhile.
Try to come out with an original idea, because what people are looking for is something fresh that can add value into their lives.
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