Startup is a problem solving company that gives solutions regarding the problems we face in daily life with creative methods. Startups not only solve the problems we have but they also have a significant effect on the economies as well since they create jobs for many people. For instance, Uber and Airbnb allow everyone to make money by driving a car for people who need a ride or renting their houses for people who need a place to sleep. Unfortunately, however, it is extremely hard to become a successful startup. Some people claim that start-up companies are born to die. According to the Wall Street Journal, the author, Deborah Gage, writes, “Now there is evidence that venture-backed start-ups fail at far higher numbers than the rate the industry usually cities.” Although there is no tip or method with 100 percent certainty that lead you to become a person like Mark Zuckerberg or Steve jobs, everyone can increase the possibility or chance to become a great startup CEO with following tips.
- Great ideas are not always great solution for people: Some people claim that a great idea will naturally lead them to a success. This, however, is not necessarily true. Before people come up with good ideas, they should know what a real problem is and create a solution for that problem. Alan Johnson, Co-founder of Treehouse, said, “Solve a real problem that creates real value in the world. Focus on the problem => solution => value => profit chain of events, and try to make a pass through this sequence sooner than later”.
- Find a target customer: Even if you make a solution for a certain problem, you cannot guarantee a success without solid target customers. For instance, let’s imagine that you want to build a IT solution company in places like Alaska or other rural places. It is unlikely that your company will be successful.
- If you are not capable of making IT-related products, spend a considerable amount of time for searching people who can create what you want to make: When I and my friends tried to make an online marketplace for college students at University of Michigan last year, the hardest problem we had to solve was finding an engineer or programmer who can actually make a website. When we went to IT companies where they make a website for people like us, they asked $30,000 for the website we were trying to build. In the end, we found a person who wanted to join our team as an engineer but it was never easy for us to find a person who has certain abilities that we were looking for. Everyone should be aware that competent person would never come to you unless your company is like Google or Apple. You must remember that you should actively seek talented people.