Stuck at home? Launch a startup!
In the post-Covid scenario, if you are stuck at home and unable to go out and have also realised that you can only watch so much Netflix without feeling guilty for doing something unproductive, you can put your time to really productive use and launch the startup you’ve always wanted. In this short blog, we have mentioned some tips on how you can start to get organised about your ideas and processes;
Determine your target audience.
Canvassing your audience is so important for any business. If you can’t define the three main attributes of your audience, then you can never define a product fit for them. The best way to go about this is to create a user persona and then target them as the primary target audience.
Establish business processes.
It is essential to identify the key business processes without having to determine the key business activities. It is important to understand that the business is offering a service, shipping a product, or offering a consultation. Important business processes include product delivery management, marketing, and sales.
Keep track of important business resources.
The key business resources help get your business prepared for launch. For example, a social media handle, a warehouse, a kitchen, licencing or any particular customer lists. Any of the above and all of the above are business resources.
Develop a strong value proposition.
A business needs to understand from the start what makes it stand out. What is the one value that makes it better than the competition? That value proposition is the reason your business is going to grow, and it needs focus and a strong mechanism to take advantage of it. It is important to link the value to a product or service that is eventually powered by a delivery system that links the business up with the customer.
Identify key business partners
Business stakeholders are the people directly or indirectly involved in the business, and they contribute to the business’s ability to serve its customers. This could involve suppliers, wholesalers, vendors, marketing vendors, delivery companies, etc.
Create a demand generation strategy.
It is definitely important to develop a demand and do a pilot run before the actual launch.Doing a small test and marketing run to generate sales is a good way to reach the market. It helps develop a learning curve for the brand. Creating a demand generation strategy develops the entire customer experience process.
Leave room for innovation.
There will always be room for innovation. With a rapidly changing customer market and needs, the ongoing demand will change over time. The more adaptable the initial plan, the more likely it will grow into something.
Customer Development
Customer development is a four-step framework that helps discover and validate customer needs and helps build a perfect product fit to address those needs. Customer development helps businesses gain insights on customer needs, customer feedback, and the experience of a product. Once entrepreneurs can have a closer look, it allows entrepreneurs to strengthen the focus of their product development along with future sales and marketing planning.
How to learn more about launching a startup?
The Startup School plays a vital role. Since courses are given by domain experts, you will find courses covering different industries in the field and thriving entrepreneurs with learning and experience from their work. The models they used for their businesses can provide great learning opportunities for aspiring entrepreneurs. Starting points for a new entrepreneur won’t be vague, and TSS can provide knowledge for anyone who wants to start from scratch with no previous experience. Learn more at https://www.thestartupschool.pk/