What questions should you ask yourself before chinese malaysia cell phone number data bombarding investors and venture capital funds?
1 Will my product really be in demand in the market?
A project idea may be good, but not necessary. A startup product must be useful to society and meet existing needs. Research the demand for your product or service.
2 Will the product be competitive?
If your project is not innovative, you need to conduct a market analysis and find out about your competitors. Then supplement your idea with new details that will distinguish the brand. These can be additional functions, a creative approach or a bold design.
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3 Will I be able to get support from investors?
Try to “test the waters” before going to investors with a full-fledged project presentation. To do this, try starting the conversation with the phrase: “I would like to hear your advice so as not to implement the wrong things.”
Talking to a potential investor or just a businessman in the format of advice is a great way out for you! You will receive fair criticism and will be able to apply the advice to your startup.
Moreover, by presenting your startup to an investor based on his advice, you have a better chance of success!
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4 Am I doing what I love?
Most often, the idea of a startup appears precisely when daily work does not bring pleasure. The idea of your own business inspires with the prospect of doing something that you really like.
And in order to work hard on a startup, develop it and not abandon it, you need to connect it with your own hobbies. Inspiration and passion are your must have.
5 Do I see the global development of the idea?
A startup has potential if you see how to gradually gain popularity in the market, expand your audience, and become a franchise. Perhaps you want to go international. Create a business plan and a startup vision for 3 years, outlining the tasks and actions you will implement.
6 Will I be able to become an expert?
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You don't need a master's degree to start. But to take your project to a good level, you need to develop and become more professional. Your startup idea should challenge you! Are you ready to spend a lot of energy on your own learning and improvement?
If you were able to answer all the questions on the checklist, go for it!
