How to Launch a Tech Startup in 2020
But why is this happening? Why do some ideas work while others don’t? CBInsights conducted a study and found out what are the most common causes of failure among startups. The three leaders included the lack of demand in the market, lack of money, and the wrong choice of a team.

The results of the study make it clear that the idea is not everything for a successful business, and to achieve results, you need to make a lot of additional effort.

So how to launch your startup

Most articles on this subject contain voluminous paragraphs with tips on how to develop your brand, hire a sales team, start social networks, and so on. That’s right, but several other crucial stages precede these. Remember the main reason for startup failure? Lack of market demand. Therefore, the first stage depends only on you — test your idea.

Unfortunately, the idea is worthless if it doesn’t benefit people. The fundamental rule for creating any new product is to answer the question of what problem it solves. You must clearly understand who will use your product, how it will be helpful, how it will improve someone’s life. Otherwise, no one will pay for it just because it’s an interesting idea. Ask yourself as many questions as possible regarding the future product:

What problem do you solve?

Who are your future users?

Who are your competitors?

What market are you going to work on?

What result do you expect after launching your product?

After that, do market research to find out the main trends and determine if your startup will fit into the system. You can even ask representatives of your target audience if they would be interested in the product. Want to develop a retail app? Ask sellers about their challenges and offer your idea.

“If you’re competitor focused, you have to wait until there is a competitor doing something. Being customer focused allows you to be more pioneering.” — Jeff Bezos, American entrepreneur, founder of Amazon.com

You shouldn’t create a product solely for yourself, relying on your opinion if you want to sell it to other people. Tech startups always bring something new but try to turn your idea into an understandable, simple product that people will gladly use.
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['Startup Lessons', 'Software Development', 'Tech Startups', 'Startup', 'Technology']