What Makes a Really Great Startup?
The journey of a startup can be a long one, from the initial idea to the blossoming of the whole venture. There are so many steps from start to finish and many routes to get there, so where do you begin and where can you go wrong?
We’re a growing startup so we know how difficult this journey can be. However, with the fundamental qualities in place, the journey can be made that much smoother. We’re into the New Year, so as a way of taking stock ourselves and helping any other eager startups out there, we’re taking a look at the important points that can help a startup reach the point of success.
So, what must a successful startup comprise of to reach the desired success status?
A focused and passionate founder
The driving force behind a startup is the founder, this person can set the tone for the whole startup, journey and employees. A passionate driving force such as Andrew Seymour, founder of Letproof.com, will ensure all doors are opened and all avenues are explored in the effort to find success for their startup. So founders, keep the passion alive and keep focused!
The power to disrupt their market
Does the concept have the power to disrupt the market? Is it something different enough to instil change in the market? This isn’t essential of course, but if a startup has the possibility to make a real change to the way that that market works and the passion behind it to create new norms, that can be a powerful quality, especially when looking for investment.
Building an engaging community organically
Having the support of a community, shows that you have the trust of this community, and is a great way for your startup to grow from the very beginning; with a tight-knit community gradually building and engaging with your startup, you can learn from their needs and can change as you grow in the early stages.
Encourage and Respond to feedback
Leading smoothly on from the above point, encouraging feedback from all around can be scary but is such a positive experience overall. Whether this be via social media, via your website, in person, from peers or industry experts, all feedback should be welcomed and most importantly responded to. This way, with outside views, your startup can grow and develop the way your customers and the industry requires it to
An interest in social change
Is the startup going to benefit, bring about or support social change in any way? Showing an interest in making a difference, for obvious reasons is an excellent idea. This may attract customers who would not have noticed you otherwise and speaks well for your brand as a whole. An interest in aiding something bigger than yourselves is an attractive quality to show to customers, peers and investors.
Filling a gap in the market
Finally, possibly one of the most important, does the startup fill a gap in the market? Letproof.com for example fills the gap that has appeared as landlords and tenants have become tired, frustrated and complain about the lengthy process and high costs of letting agents. This is likely how you began your startup, by identifying this gap, but keep this clear and constantly in mind as you grow.