Do you like to start, you are about to start your startup, but you do not know which way to start your idea?
First of all, we must keep in mind that being an entrepreneur is a difficult road with many obstacles, but this does not mean that you can not succeed and achieve the goals that we have set ourselves.
In many cases we do not have a broad picture of all the implications that a startup has to undertake, so we make a series of mistakes that ends up discouraging us and leaving our project in the middle. Among the elements to consider that are lost sight of, we can list the following:
- Having clarity in the problem that we are solving, our project is a “pain killer” or is a “nice to have”. Sometimes we think of ourselves as we undertake and what we would like, and sometimes we are not the target market, so the product has a separation between the real need and what we believe. It is also important to be passionate about this problem, and to align it with your goals as an individual, since it will allow you to stay clear with the objective without marrying a single way to solve it, remember that there are always different ways of doing it and it is not necessarily the first idea that you had.
- Knowing the target market in the short and long term, in many cases we undertake an idea that we imagine is great, but we do not really know if it will be well received by those who use it, the segment should not be so broad that it is very difficult to distinguish features and lose focus, not so small for a sustainable business in the long term, it is a key to know and receive constant feedback of what your segment is looking for. Where is your market? What tastes and characteristics do you have?
- A clear marketing and communication strategy that helps us to give an identity and presence to our brand, which should be aligned with our target segment. How do we want them to perceive our brand? Is this aligned to your long-term vision? What are other benchmarks?
- A scalable business model, usually if we are interested in obtaining external capital, investors prefer ideas that lead to a broader market without losing focus, seeking to be the best in the world in a specific product or service and think in what way you can replicate the model anywhere or other markets.
- Knowing our direct and indirect competition, there are currently a lot of entrepreneurs and people with projects that can be very similar to ours, which have already gained a lot of market, with greater economic stability and a great presence, not having them in mind limits to the moment of wanting to compete successfully.
Something that has to be very present is the ability to adapt, many times we close in a vision that does not let us advance and that will stagnate in our growth, knowing all the above mentioned data we must know when to change direction and give a new approach to our project (pivot).
However we should not be discouraged, we must remember that there are currently organizations that are willing to support us in our ideas to undertake, this is the case of Balero: “is a business facilitator whose main objective is to develop business opportunities for entrepreneurs Mexicans who want to penetrate the US market. ” Currently, this organization together with other instances has just opened the 100 startups call that has the mission of supporting in the consolidation of the startups of Mexico that solve world problems, taking the startup from the idea to the escalation stage.
The last quarter of last year, yepah! participated in a program of acceleration in Silicon Valley in GSVLabs and Google Launchpad summoned by Balero, in which we were with mentors of leading companies in the world and presenting our project with investors. Experience to say that was invaluable, great learning and support for our project.
If you want to know more about the call you can visit the following links: