How many great ideas for a startup companies do you know of that never really got off the ground? Startups are a dime a dozen and the majority never become successful. Even some of the best ideas and coolest technologies fail to reach their full potential. These days it takes more than just a great technology to achieve brand success. Startup companies must offer a compelling reason for people to embrace their products or services. Often, even the best technology won’t be successful if the company behind it can’t create the buzz necessary for rapid widespread adoption.SOLVE A PROBLEM OR START A CAUSE
To be successful, entrepreneurs know it helps to create a movement or relive a common pain point. The best startups are companies that offer solutions to fix real problems. Likewise, a startup that is built around a cause is also more likely to succeed. You need to start with simplicity by keeping your products and/or services’ solutions as simple as possible. By keeping things as streamlined and focused as you can, customers will find it easier to understand and adapt your technology.
WHO’S YOUR AUDIENCE?
It’s also important to know your audience. You must not only identify who you are trying to reach, you need to truly know them. That means understanding their tendencies, how they think, what drives them and what they’re pursuing. So, you can solve their problems or help their cause, then you can create products or services they desire, deem necessary and purchase.
CREATE YOUR OWN MOVEMENT
If you have clearly defined your value proposition your customer base will start to develop even before they have had a chance to try your product or service. In most cases, companies attempt to reach this stage with advertising and marketing aimed at getting people’s attention. However, if you want to create a real movement that can catch on and push your startup over the top, you must think outside of your obvious consumer base. You need to consider all possible users and how your product might help them. Next, focus your movement efforts to include consumers in those segments until they also see the benefits or value of your product or service.
SIMPLICITY AND DISRUPTION
Countless startups have tried and failed. Even some of the best ideas have ended up on the scrap heap because a company couldn’t gain traction or carve out a market niche. It’s vital to keep things simple, know your audience and ride or create your own movement. Lastly, if you really want to disrupt an industry, or create a new one, it’s vital to immerse every possible stakeholder within your potential audience into your story. That’s how a movement begins.
We hope you enjoyed this article about startup technology is not enough to start a movement. If you have any questions or need expert tax or family office advice that’s refreshingly objective (we never sell investments), please contact us at Info@GROCO.com or visit www.GROCO.com. Unfortunately, we no longer give advice to other tax professionals gratis.
The post Startup Technology Is Not Enough to Start a Movement first appeared on Advisors to the Ultra-Affluent – Groco.