As Albert Einstein said "Anyone who has never made a mistake has never tried anything new". In fact, being an entrepreneur and working in an ecosystem of startups involves making mistakes and learning from them, both with ours and others. And if we think about it, sometimes it is from certain failures or certain problems from the past that great ideas are born and great businesses are formed. Naturally, it is better when we identify errors before we fall into a mess, isn't it? That's why today we bring you another "Blog Tips". The purpose of this text is to mention some tips that, for us, as a startup accelerator with 10 years of experience, make all the difference to the success of an enterprise.
1. Your idea seeks to solve an existing problem or need
It doesn't matter how creative or imaginative an idea is if it’s not useful. It may be something that doesn’t exist yet, but what will really determine the success of your business is to simply check “why should people care?”. Before developing your startup, it is advisable to answer these questions: what is the real need that I am serving with this idea? Is this idea innovative and relevant to someone? How many people would actually buy? If your invention doesn't add anything, it probably won't be successful. Also, it helps a lot if you start by doing a market study, to understand the needs of the target audience and the possibilities you may consider. Interview people, call companies, talk with your customers. Market study is key! So don’t be afraid, search on linkedin and in your network, pick up the phone and ask!
2. Specify your area of expertise and your value proposition
A value proposition is extremely necessary and it is related to the previous topic. This serves to differentiate you from your competitors as a brand. Nobody will buy you anything or request your services if they don't know you or have a good image about your company. Defining your area of expertise and creating an USP - Unique Selling Proposition - helps you to create your position, that is, the perception of your brand in the minds of customers and consumers. To define this, think "what does my business have that distinguishes it from others?". Porter, the “father” of strategy, used to say that you can be differentiated in two ways: you have a set of valued characteristics that others don’t offer, or because you are cheaper. Please, don’t just shoot your shoots based on a low price. Supermarkets have proven that is a really bad strategy in the long run. If your product is really what you say, people will purchase it for a fair price, you don’t need to be the cheaper, especially if you are faster, more efficient, easier or anyhow better.
3. Great team, great work
A good team goes through a good leader. A leader with attitude, determination, ethics and a visionary eye. But what is a leader with no one to lead? Make sure that you have a good team that unders