Start from down before you "START UP".
"The True Sign Of Intelligence is not Knowledge But Imagination".-Albert Einstein
These days many of the startup founders come up with there ideas and start working on them without any initial planning. The step where everything goes wrong is starting something without a plan or an implementation strategy. Several factors need to be fulfilled before their product reaches the final customer. The "CORE COMPETENCES" are a must for startups.
CORE COMPETENCIES.
Sales.
R&D.
Finance.
Marketing.
Operations.
When they have a clear view of the above-mentioned points there will is a good scope to perform well in the market. Other important factors affect their growth, such as One Person working, Not having a consistent team, No strategy, No business plan, No technical or management knowledge, and not focused on market analysis and how there product or service is making a change.
“ A vision without a strategy remains an illusion.”
-Lee Bolman.
Several strategies are left unused due to a lack of understanding and time constraints. The two main strategies which help to dig deep into the idea and helps in predicting the future.
SWOT Analysis.
Michael Porter's Five Force Rule.
Likewise, others are also useful. The main drawback is people coming up with there ideas are somewhere or the other are similar to the ones which already exist. so, here comes the point of competitive advantages which play a crucial rule in pitching their idea. They help in understanding there competitive aspects such as.
Cost Leadership.
Differentiation.
Niche.
These are some of the aspects which a startup founder should concentrate on, Before starting the race. This pictures the whole process and gives a proper detail and helps in preparation of Future Implementation.
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