How do startup’s 3 critical factors bring the business from zero towards a successful road?
More and more young talented people are setting up their own business to become an entrepreneur to pursue their dreams. However, it is never an easy road to run a business, especially starting up from zero.
There are always 3 critical factors which bring the business from zero to success: product, team and market.
Firstly, it is about the core product, which consist of product quality, product features, product design and product functions.
Secondly, the team can determine the business succeed or not, even the product has not yet been developed to form. As we know, human Resources is always the key & asset for the company to grow. The leaders of the company, entrepreneurs/CEO must lead the team with their vision, innovative business proposal & unique concept always the key points to attract and convince the investors to support & invest on their business or products.
It a golden rule that “product/market fits means being in a good market with a product that can satisfy that market”.
It becomes a trend that people around the world like to trade and earn money creatively by sharing economy via sharing accommodation, clothes, co-working space, serviced offices, online teaching and crowd funding at Kickstarter, etc.
Last but not least, the most essential factor is the market you choose! Entrepreneurs should find the right target market for their product to enter, develop/expand their business in different pharses. Before that, they should conduct efficient market research & survey to help them analyze statistic data for right market positioning to start the business towards a successful road.