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Learn More Institution Signup Entrepreneur IntroductionWant to drive innovation, change or solve an existing problem?
Want to create a product or service, and sell it to the world at large?
Love to learn, thrive on adventure and like taking risks?
Want to have a larger impact on the world by creating something for the future generations?
Are you trying to solve a problem or fill a need? Problems often necessitate creative solutions to make a business successful and enduring. Though this intuitively may sound difficult(because it is) it often creates a barrier of entry for competitors as well.
Step 1
Once a problem has been identified, and a solution has been formulated, the entrepreneur must discern whether or not the solution is something the user who feels the problem will pay for. The key for finding out if the solution is sellable is easy-talk to your users! Try to sell your solution before you even build it!
Step 2
Gather feedback, implement the change to fit the need; improving their initial ideas as they continually learn from customers. Favor experimentation over elaborate planning, customer feedback over intuition, and iterative design over traditional "big design up front" development.
Step 3
Once your idea and business have been validated and vetted by people, register your company and make it official. Adding employees to each further experiment or iteration, and eventually starting to build a product. Find a co-founder, register your company, split equity.
Step 4
First start with providing the seed funding yourself. A source of fund, is from customers buying your product or service. You may not have your own final product line yet, but you may be able to be a reseller of related products in your target market. This will allow you to generate revenue, get your name out in the market place and gain a much better knowledge of your customer. Demonstrate potential for growth of your startup for investors to pitch in.
Step 5
Building an audience before you even have a product is critical. You're going to need to tap people to test what you're building. Use social media marketing, blogging, email marketing, getting ahead on your marketing, so you're not starting from zero when you launch, will be a key to your success. Once you have the resources and insight you need, you will have the confidence to execute the more scalable channels.
Step 6
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