A startup must be a new venture, not necessarily the first of its kind but must be the first or something new you as a start –upper is about doing.
It must be something geared towards solving a particular problem. Many a times, we are told ideas rules the world but now, what rules the world these days are problems. Problems are what makes the world moves as fast as it goes now.
If a society doesn’t have a particular challenge, that society won’t be innovative. It’s like challenges gives birth to innovations. Ideas are born out of identifying problems. You would be a very good innovator, if you can identify the problems around you, your community and sort an idea on how to solve such problems.
That’s the reason why problems are what you should look out for rather than ideas.
If you solve a problem, you would have little or less marketing issues. You wouldn’t struggle to market an idea. With that, you’re on the edge of building a successful start up.
The startup checklist
- It must be aimed at solving a problem.
- It doesn’t always have to be a new idea. It could be a be a better way yo go about an already existing idea. It can be something that someone is solving but not solving very well and you now have an idea around the problem and how to solve it better than how the person is solving it. So once you start it, it’s a start up.
- It has to be profitable in one way or another, for you need to sustain the startup/business and you need to meet up an end gain.
- Technology is an enabler of a start up.