What to think about before starting a startup

WHAT TO THINK ABOUT BEFORE STARTING A STARTUP

ELIYA ELOND I R E C TO R O F E D U C AT I O N &

AC C E L E R AT I O N @ S TA RTAU

THIS IS ME

FOCUS ON IMPLEMENTATION. NOT IDEAS.• The success of a startup is

purely dependant on execution

• Ensure that a profitable market

exists and focus on your USP

“It’s not about ideas.

It’s about making ideas happen.” – Scott Belsky

IDENTIFY A PROBLEM AND SOLVE IT.• In order for you to be incentivised

to work on your startup, pick an issue close to heart

• Once you have gained a personal experience of the issue, you understand what needs to be done

“The best startups generally come from entrepreneurs

needing to scratch an itch.”—Michael Arrington,

Founder—TechCrunch

PERFECTION IS OVERRATED. JUST GET IT DONE.

• If the focus is purely on perfection, too much effort will be placed in the production process on adding new feature, instead of creating a product

• In simple terms – it is impossible to earn money if you aren’t selling anything!

“If you are not embarrassed by the first version of

your product, you’ve launched too late.”—Reid

Hoffman

DESIGN IS SECONDARY. FOCUS ON THE SOLUTION.

• Your product should be centred around the USP, not on good-looks

• Remember – people don’t buy from Amazon because the website looks pretty

“Customers don’t want a design. They want a solution” -

Unknown

CUSTOMERS ARE KEY• Products were created for the

customer – not yourself

• Be open to constructive

criticism!

“Don’t fall In love with your product. That’s the

customers job.” - Unknown

VALIDATE YOUR PRODUCT• Gut instinct is important – but

more critical is discovering

whether or not the customer is

satisfied with your solution

“Until you ask, you cannot know” - Unknown

FEEL FREE TO CONTACT ME