"Startup exists to learn how to build a sustainable business and if you want to measure your startup business productivity, then you need to systematically figure out the right thing to build." - Isaac A. Koomson
What is a startup?
Startup is a conceptual framework or hypothesis with high rate of uncertainty which is normally carried out through an experiment and observation to measure its success or failure.
Startup is a form of business model which allows you to start your business idea in a batch form of strategy in other to eliminate/reduce waste. It also has a greater anticipation for growth.
One needs to understand that a brilliant idea/model is the one which has been able to go through testing/experiment and then being accepted by the target customers with higher growth rate and greater level of sustainability
Startup exists to learn how to build a sustainable business and if you want to measure your startup business productivity, then you need to systematically figure out the right thing to build.
Most often successful startup businesses follow the lean business model. It offers a way to test hypothesis or framework rigorously, immediately, and thoroughly.
How to develop your startup idea
1. Find a Product or service: what you sell
The very first step of what you should do is to define what value you will deliver to your customers. This is a serious point! If you can’t describe what real value you provide to your customers, you shouldn’t plan anything else and you shouldn’t build any products. Meaning your product or service should solve a real pain or problem of your target customer.
2. Define people willing to pay for it: your customers
Knowing the main customer for your product or service reduce your startup risk. We always say, if I produce and there is someone who is ready waiting for it then I will be the next billionaire.
3. Strategize a way to get paid: how you’ll exchange a product or service for money
Knowing your customer doesn’t end or gives you an assurance of your startup success. I believe the words of the gospel message which says that “a close mouth is a close destiny”. There is always a competition and as a startup you are supposed to develop the best strategy to win a portion of the market share with higher growth potential.
Features of a startup business
1. Scalability
2. Market growth
3. Investment readiness.
I hope this brief information has been useful to you. Let me hear from you if you have question or concerns for further discussion. Call / WhatsApp the number below and let's connect.
Kind regards
ISAAC AGYA KOOMSON
+233 24 133 2246
START-UP CONSULTANT | CEO | SPEAKER
KIA-STARTUP CONSULT