Getting your business idea out of the gates and building a business model upon it requires a lot of effort and resources. You always have to fight against the forces of failure and identify and take steps as and when required. But in order to succeed in building upon your dream idea, it's important for you to follow the startup process. You should know when is the right time for what as for every 1000 startups, only two get funding from a venture capitalist and out of every 10 startups, 9 fail because they lack the basic market research before launching their product in the market.
The startup journey isn't easy. The steps, however, if planned correctly can make this journey a lot easier and enjoyable. Here's the startup process to help you succeed in your venture.
You need to ask yourself and your prospective customers varied questions in order to select and validate your idea.
MVP, BETA & EARLY ADOPTERS
Early adopters give you the most required initial feedback and indirectly tell you whether your product is a fit for the market or not.
BUSINESS & REVENUE MODEL
Business model is the ultimate structure of how your idea will work and make money in the real market.
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Branding is important as it gives an identity to your dream.
Pitch deck is really important to secure funding for your startup.
MONEY & FUNDING
The key to secure good funding is to know whom to contact at what time and with what proposal.
The real startup journey starts after the funding is secured. Scale your startup only when it is needed. Premature scaling leads to most of the startup failures.