Stepping into Start-Up: Part One – 5 Key Questions to consider for Start-up Success
You have this kick-ass idea and you’re ready to give it a go in earnest, but first there are 5 key questions you need to consider for start-up success – even before you take the plunge to go it alone.
According to research published by CBInsights, 42% of start-up’s fail because they have failed to do their homework properly. Understanding what people want is possibly the most important aspect of starting a business and bringing a product or service to market. So, if you don’t just want to be remembered as a failed start-up statistic – one that failed because no market existed or it was not clearly defined in the beginning – it is essential that you consider the following 5 key questions to help you achieve your start-up success.
Answering these 5 key questions when starting a business, will not only help you identify any gaps in your plan, but they may well mitigate early failure too.
1. Is your kick-ass idea truly different?
2. Who will buy it?
3. Why will they buy it?
4. Who are your competitors?
5. Have you done your research properly?