Want to launch your startup but don't know where to begin? Here are 4 easy steps to start up.
1. Determine your value
Make a list of things you are great at. How to launch a startup without money? Think of the knowledge and skills you've never applied before. What abilities could you potentially monetize? For instance, you are good at arranging parties or explaining hard things.
“Ask yourself:
Do you want to change the scope of activity or keep developing a business in the sphere you are well familiar with?
Do you have a hobby that could be turned into your income source?
Are you satisfied with your skills and abilities or you need additional trainings?
2. Analyze the market and pick a niche
Make thorough market research, consider the competitive environment and timeliness of your product launch. For instance, Uber was launched during the economic recession
when people needed extra income.
3.Things to do:
1. Create a detailed table of competitors, write down their strengths and weaknesses;
2.Test the chosen niches: post ads on the Internet, send emails to potential customers, start a blog or landing and track the attendance;
3. Conduct research on the key words in search engines and analyze the results;
4. Survey your acquaintances offline or online.
5.Identify your USP (unique selling proposition)
Without USP your brand promotion and sales are not going to be effective.
Why should people buy your product? What is unique about it? What value do you propose? What problems do your customers experience? By answering these questions, you will form your USP.
6.Make a business plan
This is a step-by-step guide on your startup. Here you describe your product, USP, competitors, sales markets, goals, estimates, and marketing strategy.
It's no use trying to make a perfect plan for 5 years ahead. One of the common mistakes is delving yourself into planning without starting to act.
Think through only those details which are essential at the first stages: your initial capital, when you are going to reach profit, and how many competitors there are. After a few months, reanalyze and correct the strategy.
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