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We think everyone can establish an IT startup, but there are certain points to consider first:
There are many important factors that make startups successful, but we will list only a few of the main ones. We believe it is important to do detailed market research, use customer development methodologies, and be able to make mistakes quickly and test hypotheses. Great success never comes without a bit of luck.
In most cases, you won't require any money to launch a startup; but you may need resources like marketable skills and existing equipment. We recommend looking for funding once you have tested multiple ideas and are ready to scale, rather than in the early stages when you have no product and no consumers. Private investors, accelerator programs, and other funding sources are available.
It heavily depends on the industry you are building your startup. If this is some super niche market in technology e.g. Artificial Intelligence then you probably want to be good at it. Otherwise, technical skills are a plus and not a requirement. It actually depends a lot on the business that you are trying to do.
The most commonly used steps to launch a startup are : Step 1. Identify and Articulate The Problem Step 2. Determine the Market Size Step 3. Create the Minimum Viable Happiness Step 4. Understand your Competition and Alternatives Step 5. Plan your Business Model Step 6. Develop your Go-to-market Strategy Step 7. Outsource the Right People
Having too many features implemented at the Minimum Viable Product stage is one of the most typical mistakes among startup founders. This causes delays in releasing the product and leads to half of the features being ignored because they are not practical. We think it's essential to separate the product's core features from its additional ones, so we can test our theories with certainty. After releasing the main functionality, you can divide the product into versions and gradually improve the product with each version. At Reviro, we help with exactly these issues. Our team can help develop an MVP in less than 12 weeks and support startups at every stage of the market release.
These were the most frequently asked questions from young people at various events. We wanted to share our answers at once so that as many people as possible would benefit.
Well, if you have any more questions besides those we have considered above, write them in the comments, and we will reply as soon as possible. And if you have already launched a startup and you need technical support, do not hesitate to contact us to get a free consultation Send us a message