Common products are made by common startups. If the products you make is a replica of, or almost similar to your competitor’s, you’ve most probably assured a funeral for your startup!
The stress here is on the fact of “thinking out of the box.” Thinking on the roads which may not have been traveled. It is agreeable that such roads are often risky, but otherwise, it’s a near certain death, once you’re a startup. There is hardly any scope left for "Orkut" of India, "Flickr" of India, etc. You can look at the fate of numerous social networking sites which were launched and were lost in quick time! The onus in today’s competitive world is to focus on being the unconventional entrepreneur, having a radical approach, coming up with innovative ideas in almost all things done by a startup. That is what we call, thinking out-of-box. Only then can you get noticed among the plethora of startups competing in a niche.
The necessary requisites to think out of the box is to have a team which is supported by a true leader who inspires them to have a radical approach. This in turn results in creation of products that perfect-fit the customer requirement parameters. The other considerations that a startup needs to have are;
- Mental Attitude – It is highly likely that almost all startups fail with their products once, but if the attitude is right and you have the capability to think out of the box, there is no further stopping for you to excel in your domain.
- Situation Analysis – Obstacle are common to all businesses across the globe. It is the positive frame of mind of every individual working in the startup that helps in transforming the negative situations to positive ones.
- Leadership – Be it an individual or be it the market structure, always attempt to be the best. Leadership is something which you can command on others only when you the capability to think out of the box and do not let the company rock the boat. Always aim to create a product that has in it to be the market leader in its category.
- Customer Satisfaction – Times have changed and companies look for exceeding customer satisfaction. Well, that is the mantra, to be different, you have to outperform others. And if you can exceed the expectations of your customers, there is no other way to enhance the brand equity of your company.
- Self development – It is all about “Survival of the Fittest”. A startup should always look to continually evolve in all the parameters of its business as self improvement is the most important performance tool that an “out of the box” startup should map itself with.
So are you ready to have that kickass product off your venture? Gear up!
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{ 2 comments… read them below or add one }
I guess team motivation strategies too form a cohesive part of the list. That is entirely my perception though. Good article otherwise.
@ Ritesh: Yeah, to an extent I would say! The list however is endless and differs from person to person. Thanks for your words though!