By Debasish Dutta; Managing Partner & CEO; Orange Corp, Global
“Startup” is a word much common nowadays with name of such applications and the companies becoming quite familiar with our daily life. This has more become a success story in a way with people getting familiar with smart phones and ecommerce trying to engage us in our spare time promising to deliver whatever we may need.
“Startup” actually means a new business establishment. Its only about a decade now where this has got the momentum because reaching out to end users is just a mouse or key click away.
If you think that you have what it takes to build a successful startup, please read this guidance note thoroughly. Always remember that getting on with something is easy but you need to have the Interest, Passion and Vision to make that successful.
Be the Visionary
Think what is it that you like doing?
Think what is it that drives you?
Think what is that you can do well?
Think how your liking can influence others’ life for betterment?
Think how big you can make this work?
Think who are the family members, friends, others whom you know can support you in this?
Be The Boss, Be The Employee
Once you have the vision clear in your mind, lead yourself to start small and direct yourself to complete rough roadmap.
You are yourself the 1st employee of your Startup.
Now you alone cannot do all the work. Choose the right people to complement the required activities.
It is quite possible that you now don’t have money to pay hired employees. In that case get your chosen family members or friends work with you for some desired benefit at a later date. If they lack motivation, you should be motivating them to help turn your dream startup into reality. Give adequate credit to all those according to their contribution and remember that all of them are significantly important for the success.
Be the customer yourself
If you are ready to work on your project, try to get answers to the following first considering yourself as a customer.
Is this product meant for you i.e which part of the population is your target? Always remember that you cannot make a product meant to work for entire population. Hence, target customer selection is a must.
Why will you use such a product
What alternative products are available for you to choose from
What is the competitive edge or USP which will make your work easier upon trying this product
You will be successful only if you can balance technology and customer satisfaction in appropriate proportion.
Be The Trumpet
How do you intend to reach your target customer?
Test market your product within your known circle and ask them to provide unbiased feedback which you need to work on in order to improve on the bugs or defects. Make a questionnaire to get the feedback from such users and address the points which are most critical and then on to others.
Don’t get disappointed if you receive a major negative feedback since its good to have the issues resolved early than being late. Take time in analysing the reasons and take help from your team members by constantly discussion on the same.
When you are ready and have resolved the issues, ask the persons who have tried your product to recheck the current performance and again repeat the questionnaire session for feedback. Resolve if any issue which is still existent.
Now if you are convinced on the performance, promote the same in a manner to best suit your budget and industry. Try to generate revenue i.e. get the 1st set of customers who will pay for using your creation. Send them personalised emails or messages thanking for the same and asking for feedback. This is how you can build customer loyalty.
If you want to be successful, avoid taking shortcuts and be a patient listener.