Why are some startups taking off and others not?
This question plagues almost all newbies. Really, where is this fine line between a new demanded idea and an unrealizable fantasy? We have compiled the checklist for you — “FLOP or TOP?”
FLOP startup 👎
1. Unformulated value of an idea: abstractions or generalizations are not preferred here. Everything should be detailed, clear, logical.
2. Your idea does not carry any novelty: think about the base and hypothesis of your project. Isn't it just another improvement on an already existing idea? Optimization ≠ startup.
3. There should be only one hypothesis! Many blockchain projects have remained “on the ground” because they relied on assumptions.
4. Startup stop phrase: “We have no competitors”. Why do you think so? Why is no one else doing this? What if this idea has no potential, or it already exists?
TOP startup 👍
1. You are halfway to success if your idea is socially responsive, relevant and thought out in detail.
2. Successful inventors never skimp on design and PR. A startup should be beautiful and attractive so that at any stage it is possible to sell either the entire company, or the technology, or a product, or even just an idea.
3. Interact with your target audience. So you can find out what exactly they need, whether your concept suits them and whether it will be in demand. Feedback and criticism are the best you can expect from the masses.
Discuss your ideas with other startuppers in the comment session