5 Things You Should Know Before Creating a Startup

Despite the ramifications of the Covid-19 pandemic, new business applications increased by 26.9% in 2020, compared to 2019. This is part of a general upward global trend in startup launches that’s been increasing year on year for over a decade. However, starting a new business is no small undertaking – new business owners face countless challenges. But a lack of information doesn’t have to be one of them. From learning what successful entrepreneurs have to say, to looking at market statistics to find customer-driven data. There’s a lot to learn, so here’s a breakdown of the most important things a new entrepreneur should know before launching their startup. 1. Research the Market This first tip might be a tad obvious, but many new business owners don’t realize just how in-depth their market research needs to be. They think they’ve got a great startup idea and that there’s enough of a demand for it. But the reality is that they haven’t looked at all of the variables – which is one reason why around 21.5% of startups fail within the first year. Utilize readily available tools to know the target audience’s demographics, behaviors, wants, needs, and problems. A business owner has […]

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