If you think you can change the world, you actually can. Your product can be one of the best latest innovations round the corner. Every startup needs endless hours of hard work and genuine effort which at times leaves the founders in a dilemma. Here are few tips on the most common dilemmas that the founders face when they are just starting to build their product.
- Do it yourself (DIY): Success never comes easy. If you have the right setup up in your mind with the accurate ideas, nothing in this world can stop you. There are times when people do not have a co-founder but they do have big dreams and revolutionary ideas. Being alone should never deter you or stop you from bringing your ideas to life. There are enough resources available on the web that can easily help you get started. Remember as a founder you always have to Do it yourself.
- Competitor research: Competition rate in any given field today is extremely high and in the tech world it is even higher. With a number of upcoming products and innovative ideas in the market, you might feel that you cannot do this, but do not underestimate your capabilities and/or your beliefs; also never, for once even, underestimate the strengths of your opponent. In a way your competitors are your primary guides; do a thorough research of every direct or indirect competitors work anywhere in the world. That’s the quickest learning you can get in your sector.
- Build a prototype, not a product:Remember, you are just ‘assuming’ that people want your product. Don’t let these assumptions overpower your work. Of course you are doing it after your research. So don’t waste months building a beautiful product to satisfy your assumptions, instead build a prototype and test it within your user group. Many a times you don’t even need to build a product. For instance,Magicstill uses SMS. Reid Hoffman said “If you are not embarrassed by the first version of your product, you've launched too late.”
- Choose a stack that you are comfortable with:In very obvious terms, you cannot just work on something that doesn’t fit in with your field of work or something that you aren’t comfortable with. When you are starting, it’s important to test fast. There is no right or wrong framework, language or stack when you are just starting up with 0 scales. Hence,you’ve got to take up something that you are familiar with and can build fast on, something that doesn’t make you feel regretful later. Whatever you choose, you’ve got to choose wisely.
- Measure: Analytics is one major aspect and one cannot give it a second thought. It is what should drive your decisions. You need to collect the right data and turn it into knowledge. It will boost your confidence level and will help you stay goal-oriented. So build your product and measure everything. There are many good, free to start with and easy to integrate tools like Flurry, Google Analytics, Mixpanel, etc., available which will help you kick start your dreams.
About the Author:
Pawan Gupta is the founder of Curofy. He did his B.Tech in Electrical Engineering from IIT Delhi. He has worked with Deutsche Bank for two years in Mumbai. He has an interesting mix of interests in technology and finance.He represented IIT Delhi at the Stanford University Entrepreneurship Summit and also finished runners-up in Elevator Pitch Challenge at the Summit. He is also a travel buff and has spent considerable amount of time travelling across continents.
(Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views of YourStory.)
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- Stanford University
- Private equity
- Reid Hoffman
- Startup company
- Deutsche Bank
- travel buff
- beautiful product
- mobile tech startup