How to Develop a Startup Idea in 8 Easy Steps

Have you ever had a brilliant business idea, but you are struck, because you don’t know how to get your startup idea to the next level? Well, here’s a concrete step- by- step guide for developing your startup idea to help you get started.

1. Evaluate and Research the Significant Markets

First, consider the niche(s) on the market to which your startup idea applies. What are the requirements of the industry and its consumers? Are there unresolved problems the industry faces? Will your startup idea bring improvements and solutions to the situation? You can refer to industry – specific websites to keep you up to date with the latest trends constantly.

Techcrunch, for example, is an excellent technology blog that discusses the latest products and shares the latest news in the technology world. It also describes new start- ups and gives an overview of the upcoming and upcoming market developments.

TED, famous for its well-known slogan ” Ideas Worth Spreading, ” is an excellent source of inspiration. It’s a treasure trove of information about all imaginable things under the sky. It was launched as a conference in which experts from different niches gather to share their views on issues that can reveal and raise awareness.

Presenters usually have about 18 minutes to talk about their topic and the focus of their presentation can range from the latest disciplinary developments to social issues they want to raise awareness. After you attend the talks or watch her videos, you will feel more inspired than ever before.

2. Write your ideas and expand them

You may have identified at this stage needs or areas that can be improved. Please note them with a tool like Evernote. Evernote allows you to save clippings of web pages, images, documents and slides attached. You can create several notes and sort them by subject and genre. Evernote can be accessed through different platforms like windows, ios and android. A simple click on the sync button ensures that all the platforms synchronize your notes.

3. Start competitive analysis

Competitive analysis is a great way to compare and predict how your company will compete with your industry competitors. Can your company fill a void that other people have left untouched?

Here’s how to perform your competitive analysis:

4.Model your Company

If the idea of creating a business plan seems too cumbersome and tedious, you will enjoy using Lean canvas. They are templates that emulate a business model with one page. Adding and updating the model is easy. You can also have a clear overview of the following nine elements of your business model: customer segments, value proposals, channels (to reach customers), customer relationships, revenue streams, key resources, value – creating activities, cost structure and key partners

5 Create/design/Draw your mockup and then test it

The time has long gone by when you draw sketches on a whiteboard and scribble throughout the place. Online tools like Framebox allow you to create and export wire-frames in a variety of formats like jpg or pdf. There are several buttons or components of a web application to choose from so that you can easily build up your sketch. Would you like to receive feedback without unnecessary distractions and confusion? InfluenceApp is the way forward.
You can upload your design in different formats and assimilate the remaining documents in a full presentation. You can then share the final mockup with your teammates simply by sharing a URL and by simply commenting on the specific design elements. That’s easy!

6. Carry out a market survey

No business should be launched without a market survey. Sites like Survey Monkey allow you to create a questionnaire online and send the URL to your target audience. This transcends geographical boundaries that are a major advantage over field surveys, as you can gain a broader global perspective.

Another option is to hold a focus group session before or after your minimum product has been completed. You invite people from your target population to participate in a group discussion about products or services. The following can be helped by a focus group:

• Finding the consumer’s first impression of the product or services based on the packaging and marketing campaign

• Real- time feedback from customers on the virtues and vices of the products / services

• Changing your marketing strategies and improving your product before the final delivery.

7. Build your final product

The next step would be to make the adjustments and adjustments necessary to produce the final product. There is a number of project management software to help you keep track of progress during this stage. Trello and Agile Zen are good suggestions. The template is divided into different stages (or boards) where it is possible to assign individuals to be responsible for different sections. Tasks can be moved between different stages, e.g. From backlog to approved work. This provides a clear picture of the progress and what needs to be done in each project segment.

8. Collect customer feedback and measure results

There are many business uncertainties, but what if you can get answers to the burning questions, if things don’t work as expected? Kiss insights will help you reach your audience. You can install it on your website and visitors will have two questions on your homepage. You have the flexibility to check who is exposed to the investigation. Kissmetrics is another tool you shouldn’t miss. It tracks your visitors ‘ surfing and buying behavior and gives you valuable information, such as from where they came. This useful information helps you improve your marketing strategy and your site navigation. The last two steps are repeatedly revised as your business continually evolves and adapts to the market.

Irfan Shafi
I am businessman, software engineer, artist, web designer and writer.
I am businessman, software engineer, artist, web designer and writer.

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