They say only one out of 100 start-ups succeed. As budding entrepreneur, the obvious next question rises is that what should I do so that I don’t meet same fate as that of 99 other start-ups? And below are few obvious things that you actually can do to avoid your start-up failure
The simple questions you need to ask is that is your product doing some value addition to your target customers? Will your customers pay for your product? And is your product driven by some “Big idea” or real customer need? Don’t waste too much time on product development. Make MVP, get feedback, improve and repeat untill you become perfect.
Many start-ups spend too much time on product development but not enough time to find suitable market and paying customer. They make product which they think is suitable and don’t look for gaps which they can fulfill
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