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5 Principles of Successful Startups
1. Maybe you feel like you have a great business idea that will make you a millionaire in a few months and still ensure world peace and enough peanut butter for everyone. But before you start a business, find out that people are really interested in your service. Do a market research, send out a questionnaire and see if what you are trying to do has not already been done by someone else.
2. Why doesn\’t anyone do that? If you find that a hole in the market really exists and you are interested in this service, you should ask yourself the basic questions.”Of course, it is not excluded that you have encountered a vein of gold. But more likely is that there are some hidden pitfalls throughout. The most common? Cost-effectiveness ratio or product patent protection is the most common reason most start-ups quit before they even start?
3. Are you willing to invest a lot of time and energy? Many people have the idea that their business will become a renter in a few years, like the MySpace founder who already enjoys a secure life, but the foundation is a lot of work and long nights spent on projects with uncertain consequences, frustrations and problems. So before you do anything, ask yourself if you have enough motivation and self-discipline to get the whole thing done.
4. To be honest, it can be adventurous to jump into business when you don\’t have a penny, but most of the time it ends in disappointment. Of course, you do not need to be from a rich family, but at least you need to have some foundation. Already because the business is a full-time job, at least for a while you have to live off their savings.
5. Motivation. Of course, business needs to win you. But if you are not interested in anything other than profit, consider your own company. Most people go into it more to become their masters, and because what they do makes sense to them.