Roughly 90% of all startups fail. This is a sad fact, but a solid one nonetheless. Why’s this happening? Well, frankly, Startups today are more of a hype thing, rather than a creative, personalized way of business management.
Too many people are getting into the market for the sake of it. They want quick money without any investment.
Not all is gold that glitters!
People don’t care about a market for their startup, a niche the product will be displayed in, target audience or potential value.
An idea is all it takes, they say. I can only wish it was true. I mean, for real, we all have a lot of ideas. That doesn’t mean all of them are good. It also does not mean that the really good ones are desired by others.
A solid foundation
What makes me write these words? I recently came across a webinar about finding a market fit for your startup nowadays. You’ll be able to attend it on the 13th of April. Seductive Mobile, a company I had the great business with earlier is hosting it. So I stumbled across their landing page for the event and suddenly realized – the guys have a point! They are on to something.
Finally, there will be someone willing to teach young entrepreneurs about something that matters, something valuable and nut just click-bait, traffic-generating clutter about how awesome the industry is.
So how do you find a market fit for your Startup?
For starters, strat avoiding catchy titles in media. Here’s an example – most “advisors” state that you have to find something you are passionate about first and then succeed in doing a business out of it.
That’s just a bunch of rubbish. You, as an entrepreneur, will be passionate about anything you do – it’s your own business for God’s sake! That noted your passions are not an efficient driver. The Compelling analysis is.
You can be crazy about tutu-dress wearing kittens or m-16 assault rifles. That doesn’t mean enough people share this vision with you and even less of them will be willing to pay money for related services.
Finding something that pisses you pff, creating a solution for the scenario and selling it, on the other hand, can make for a great business idea but only for as long as you are 100% sure enough people are suffering from the same pain as you do.
Not enough? Here’s yet another example of “advice” you should never follow – innovation. New ideas are great and all, but there’s a reason no one did anything with them throughout history. All of the greater things are already invented, and those that are not are still far from being business-ready.
I’m not saying you shouldn’t be creative. Use your mindset to improve whatever is already existing. There’s no need for re-inventing the bicycle when you can simply improve it with better wheels, a new ramp or an awesome Augmented Reality-based helmet.
I can’t say that that’s it. You won’tfollow these easy tips to your success. Yu will still have a lot of work to do, but hey, at least you will be going in the right direction!